About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, February 27th, 8:44PM
rss
Latest Headlines

Goldstein talks retirement

ASB Bank reckons it can make an impact in the corporate superannuation market, although current players say the going is tough.

Wednesday, September 5th 2001, 10:51PM

The bank yesterday rolled out its superannuation master trust that is tailored for the workplace environment.

ASB Bank manager group superannuation Burton Shipley says the key advantages the bank's product has is that it has low fees (because it mainly uses passive funds), there are low contribution levels and the technology behind the trust is advanced.

He claims the trust is the most technologically advanced one in New Zealand with a registry system built for recording and tracking investment activity and online reporting is planned.

Shipley acknowledges the bank has been late getting into this market, however he is confident it can do well.

"Our research shows that New Zealand's retirement savings market is poised for change."

Shipley says there is a growing awareness from companies to provide superannuation as part of a remuneration package.

He says a couple of things are driving this change. One is that providing superannuation is a good way for an employer to retain good staff. Secondly, the compulsory Australian system is having an impact in New Zealand.

Shipley says there is a trend for New Zealand head offices to shift across the Tasman. When employment packages are put together from Australia for New Zealand staff workplace super is included as it is the norm in Australia.

Currently the trust is offering a range of diversified and single sector investment options made up of four balanced funds (three passive and one active). Each option has a different composition and risk profile.

ASB is using AMP as its manager for New Zealand and international because "they offered what we wanted," Shipley says.

He says the investment manager decisions were made before Commonwealth Bank acquired the Colonial First State Investment business.

« Ethical funds get a big boostSovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Where are the financial advisers?
    “my criteria of an adviser either as a client or recruiter will be: 1. someone in mid-30s upwards. 2. financially stable...”
    2 days ago by w k
  • Where are the financial advisers?
    “Not sure a 20-30 something year old adviser would generally have the necessary experience or skills to service a bank's investment...”
    2 days ago by Craig Simpson
  • Super Fund files proceedings
    “Hmmmm..... a Goldman Sachs led consortium of global investors suing the Portugese government in a Portugese court of law....”
    2 days ago by winstonkey
  • Lost loan a small proportion of NZ Super Fund
    “Nice story Regant....but it is all in the telling. Try it this way around. At my local school there are 300 kids....”
    3 days ago by Bobby
  • Where are the financial advisers?
    “In my experience, potential clients are mainly mature people who have accumulated a "nest egg" and want sound, solid advice...”
    3 days ago by traveller
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.69 6.19 6.55
AMP Home Loans $200k+ 7.14 5.59 6.09 6.45
AMP Home Loans LVR <80% - - 5.75 6.09
ANZ 6.74 5.89 5.99 6.29
ANZ Special - 5.39 5.39 5.79
ASB Bank 6.75 5.99 5.99 6.39
ASB Bank Special - 5.59 5.39 5.59
BankDirect 6.75 5.99 6.09 6.39
BankDirect Special - 5.59 5.39 5.59
BNZ - Classic - 5.69 5.39 5.69
BNZ - GlobalPlus 6.74 5.89 6.19 6.29
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.89 6.19 6.29
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.95 5.99 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
Lender Flt 1yr 2yr 3yr
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.65 5.69 5.39 5.69
HBS Special - 5.59 5.19 5.49
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 5.70 5.80 -
Housing NZ Corp 6.74 5.70 6.09 6.29
HSBC Premier 6.84 5.65 5.65 5.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.29 5.29 5.29
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 5.69 6.09 6.29
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped - - - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.55 5.55
Liberty - - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
Resimac 6.59 6.03 6.10 6.19
SBS Bank 6.65 5.69 5.39 5.69
SBS Bank Special - 5.59 5.19 5.49
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 5.99 6.09 6.39
Sovereign Special - 5.59 5.39 5.59
The Co-operative Bank 6.70 5.59 5.39 5.59
TSB Bank 6.74 5.70 5.70 6.00
TSB Special - - 5.35 5.60
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 5.99 6.19 6.39
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - ▼5.39 5.89
Median 6.70 5.82 5.99 6.19

Last updated: 23 February 2015 11:03am

News Quiz

US 10-year bond yields fell to 1.64% in January, how many basis points did they fall?

53

23

33

43

13

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com