About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, February 1st, 6:18PM
rss
Latest Headlines

Ex AMP man to manage money forTower

Tower Asset Management has contracted Stephen Walker to manage part of its New Zealand share portfolios.

Friday, September 14th 2001, 11:34AM
The manager is Walker Capital Management, a new firm headed up by Stephen Walker. Walker has 14 years investment experience, the last 7 managing New Zealand equities for AMP.

The reason for the move is to expand its capacity for managing New Zealand shares on behalf of the Tower Group and its other institutional clients.

Tower Asset Management manages almost $900 million of New Zealand shares. This has grown from $250 million in the last 9 years.
Over $550 million is managed for independent third party clients such as large corporate superannuation schemes and charitable trusts. $350 million is managed for the Tower group of companies.


The NZ share portfolios are managed by Wayne Stechman who has been with Tower for 12 years.

"Tower Asset Management has an outstanding record in managing New Zealand shares over the last 10 years or more. Risk adjusted returns over 3 and 5 years are the best in the market place bar none" Tower Asset Management managing director Paul Bevin says.

Tower Asset Management closed its doors to new institutional accounts over 2 years ago because the amount of funds had grown too big to manage actively in the New Zealand market without threatening the investment results of its existing clients.
"We continued to accept funds in Tower’s pooled retail funds and will continue to do so. Out-sourcing some of those funds will enable us to maintain performance while accepting some new accounts," Bevin says.

Initially Walker Capital Management will be managing about $85 million for Tower Asset Management but it is hoped to increase this in the near term.
"We expect comparable performance to our existing portfolios and we would not be doing this if we weren’t confident about that," Bevin says.

Walker Capital Management will be opening its offices in Auckland in October.
« Demystifying Hedge FundsSovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • DIMS conditions clarified
    “What am I missing? I agree with MPT Heretic's questioning of the importance of NTA when the client or the custodian holds...”
    3 days ago by Murray Weatherston
  • DIMS conditions clarified
    “It is the final paragraph from MPT Heretic's response that caught my attention: Perhaps it is time for the playing field...”
    3 days ago by Pragmatic
  • DIMS conditions clarified
    “Well Minister Goldsmith does not have to look far to find unnecessary costs being piled onto adviser businesses and ultimately...”
    3 days ago by MPT Heretic
  • Demand for simpler trauma policies
    “Maybe Milton and the other Head Honchos should maybe suck the Sav a bit and dial down their profit margins eh! And dont give...”
    5 days ago by billy the broker
  • Demand for simpler trauma policies
    “The Lifecare product that Fidelity offer is a good way around the problem. I think a lot of people do not understand it. Appreciate...”
    11 days ago by Wall
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 ▼5.95 6.09 6.39
ANZ Special - ▼5.45 5.55 5.99
ASB Bank 6.75 5.99 6.09 6.39
ASB Bank Special - 5.59 5.55 5.59
BankDirect 6.75 5.99 6.09 6.39
BankDirect Special - 5.59 5.55 5.59
BNZ - Classic - 5.69 5.75 5.59
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 5.74 ▼5.79
HBS Special - 5.59 5.49 ▼5.49
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.30 -
Housing NZ Corp 6.74 5.70 6.09 6.29
HSBC Premier 6.84 5.45 5.65 5.79
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
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 5.89
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 5.74 ▼5.79
SBS Bank Special - 5.59 5.49 ▼5.49
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 5.99 6.19 6.39
Sovereign Special - 5.59 5.75 5.59
The Co-operative Bank 6.70 5.59 5.59 5.74
TSB Bank 6.74 5.95 6.19 6.30
TSB Special - - 5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - 5.79 5.89
Median 6.70 5.95 6.09 6.29

Last updated: 31 January 2015 5:00am

News Quiz

A well-commented on story last week mooted that many authorised financial advisers are out of their depths discussing what with their clients?

bonds

death

divorce

piles

birth control

MORE QUIZZES »

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