It started when I spotted an ad in the Herald last week where a lawyer was advertising and it has snowballed into something bigger today, where we have news of a public meeting for investors being held in Auckland later this month to look at action.
It will
be fascinating to see how this pans out, are these lawyers
vultures or eagles and is this a public meeting or a lynch
mob? I have talked about it some more in today's Blog
and would love to hear what advisers think of all these developments.
Either drop a line here or post a comment in the Blog.
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Vultures
or eagles circling? You decide |
Also, as we flagged earlier, PINs, has "postponed" its quarterly interest payments due to the credit market turmoil.
The other story which caught my attention this week was Standard and Poor's downgrade of finance company Geneva. It seems to me the rating company has given Geneva a rough deal here, and I intend to comment on it some more next week.
The new PIE tax regime is a hot topic at the moment and we have a useful piece in the Features section which explains the changes.
The home loan market is at a fascinating point currently with some rates going up, others down, and of course some terms not moving. Good Returns' Mortgage Centre has a comprehensive up-to-date report on what is happening and where things are going.
The past week has had good news for those looking to put money on deposit. We have a full report at depositrates.co.nz, which includes the rate set for Rabo's perpetual notes, a 12% offer from a finance company and another firm offering existing customers an extra 85 basis points.
New appointments have been thin on the ground this week. The main one we report on is the new additions to Fisher Funds. These two new appointments are the investment managers for the companies new global share fund, Marlin.
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