News Round Up

Mutual recognition of securities offerings across the ditch; Socrates joins UN Responsible Investing club

by Maddy Milicich

Mutual recognition of securities offerings across the ditch
A new, landmark agreement between New Zealand and Australia will smooth the way for businesses to raise capital and for the public to invest with greater ease in both countries.

The Mutual Recognition of Securities Offerings regime, launched Friday 13 June, by Commerce Minister Lianne Dalziel and Senator Nick Sherry, Australian Minister of Superannuation and Corporate Law, allows for the same securities offerings documents to be issued in both countries.

"It will remove barriers to trans-Tasman securities offerings and reduce costs to businesses as only one prospectus will be needed in most cases and investors will benefit from having a wider choice of investment opportunities," Dalziel says.

It is another important step towards creating a single economic market between New Zealand and Australia.

Socrates joins UN Responsible Investing club

Socrates Fund Management has become the first New Zealand owned PIE unit trust fund manager to be accepted as a signatory to the United Nations Principles of Responsible Investing.

Socrates is promising to incorporate environmental, social and corporate governance (ESG) into every investment analysis and decision-making process, and all policies and practices.

The fund manager has been a keen supporter of environmental protection and sustainability and has been a long-standing member of the Sustainable Business Network.

Socrates also supports one third-world child for every $1 million under management.

Their three current unit trusts, the Income Unit Trust, the Performance Unit Trust and the Gold & Metals Unit Trust have been the top performing PIE unit trusts in New Zealand in their respective categories for the last seven months.

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