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News Round Up

Colonial First State name goes, Hedge Plus here today, Deutsche strengthens its position.

Monday, October 1st 2001, 6:36AM

All the Colonial First State Investments (CFSI) managed funds taken over by Sovereign on September 7 have been renamed.

The CFSI unit trust range is now called Sovereign Unit Trusts and its Retirement Lifetstyle series has been renamed the Sovereign Retirement Lifestyle Series.

Sovereign is now offering its rebalancing facility with these funds. Under this feature a client's asset allocation is automatically realigned each quarter.

Rebalancing occurs when an investment is more than 5% off the desired benchmark.

Hedge Plus is here


OM Strategic has today launched the latest series of its popular capital guaranteed funds in New Zealand.

The latest fund, Hedge Plus, is similar to the OM IP 220 funds that have been offered to New Zealanders.

Order a copy of the investment statement by clicking here.

Deutsche strrengthens its position
Deutsche Bank has struck a deal to buy all of US-based asset manager Zurich Scudder Investments from Zurich Financial Services for USD$2.5 bill. The deal does not include Scudder's UK operations, Threadneedle Investments.

The heads of agreement also include a broad strategic cooperation between Deutsche Bank and Zurich Group primarily in the fields of insurance distribution, asset management and banking.

The deal make Deutsche the fourth largest asset manager in the world with more than EUR1 trill in assets under management. It also provides a major expansion for Deutsche in the important US market and increases its product capabilities for actively managed investment products.

It also strengthens its position on the Asia/Pacific region through the operations in Australia, Singapore and Japan.

Latest deposit rates
UDC's new deposit rates are:
- UDC Secured term investment, 5.4% for one year. Min $25,000
- UDC Telephone call account, 4.8% for $100,000 plus, 4.65% for $20,000 to $100,00 and 4.2% for $5,000 to $20,000.
- UDC Secured Term Investment, 6.65% for 5 years, min $25,000.

« ORC gets sortedSovereign takes regulation bull by the horns »

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 ▼5.69 6.39 6.65
AMP Home Loans $200k+ 7.14 ▼5.59 6.29 6.55
AMP Home Loans LVR <80% - - ▲5.99 ▼6.19
ANZ 6.74 6.15 ▼6.39 6.49
ANZ Special - ▼5.69 ▼5.75 6.09
ASB Bank 6.75 6.09 6.40 6.65
ASB Bank Special - 5.70 ▼5.75 6.19
BankDirect 6.75 6.09 6.99 6.65
BankDirect Special - 5.70 ▼5.75 6.19
BNZ - Classic - - 5.75 ▼5.85
BNZ - GlobalPlus 6.74 5.89 6.39 6.59
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.89 6.39 6.59
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 6.05 6.20 -
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 5.85 5.99 6.19
HBS Special - - - 5.89
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.39 6.59
HSBC Premier 6.84 5.95 5.95 6.39
HSBC Premier LVR > 80% - 5.75 5.75 5.75
HSBC Special - - - -
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 5.79 6.39 6.65
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.89 6.19
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 6.35 6.58 6.77
SBS Bank 6.65 5.85 5.99 6.19
SBS Bank Special - - - 5.89
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 6.09 6.40 6.65
Sovereign Special - 5.70 5.75 6.19
The Co-operative Bank 6.70 ▼5.70 ▼5.89 6.19
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 - - ▼5.75 6.19
Median 6.70 6.00 6.39 6.52

Last updated: 24 October 2014 9:27am

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In a study of performance fees by Pathfinder, how many of the 10 equity PIE funds reviewed have to achieve a margin over and above their benchmark before performance fees kick in?

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