News Round Up
Monday, December 3rd 2007, 6:27AM
Rate rise this week unlikelyGood Returns survey of economists show a rise in the official cash rate is unlikely this week. [READ MORE]
Perpetual Trust to wind up fund
Perpetual Trust is winding up its Moorhuse Property Fund and considering a restructure of its remaining property funds.
The Moorhouse fund, which was established in 1994, is set to wind up after providing investors a capital gain of more than 70%, with the sale to a syndicate still being settled.
Investors had already received regular income, with distributions having averaged more than 9% annually on the initial investment.
After the sale, and after allowing for repayment of debt and the expenses involved in selling the property, the net asset value per unit is expected to be more than $1.70.
RBNZ looking for regulators
The Reserve Bank is currently looking for staff to run its newly-created Prudential Supervision department. While the bank's current responsibility is for advising on the structure, regulation and supervision of the New Zealand financial system as it relates to banks, non-banks, insurers and payments systems.
Its role is expected to expand to include non-bank regulation and anti-money laundering responsibilities. Check out the jobs here.
| « Capital + Merchant unlucky 13th as liquidity freezes | Sovereign takes regulation bull by the horns » |
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