NZ sharemarket down slightly
The New Zealand sharemarket was down slightly, while investors across the Tasman were inspired by the Reserve Bank’s move to keep interest rates on hold.
The S&P/NZX 50 Index closed at 11,800.78, down 20 points or 0.17% after reaching an intraday high of 11,840.89.
There were 68 gainers and 72 decliners over the whole market on volumes of 35.14 million share transactions worth $115.75m.
The Reserve Bank of Australia (RBA) kept the official cash rate (OCR) at a 12-year high of 4.35% and said inflation continued to moderate but was declining more ...MORE»
Nikko relaunches its KiwiSaver propositionTuesday, May 7th, 10:00AM
Nikko has relaunched its GoalsGetter KiwiSaver proposition adding other managers’ funds and making improvements for advisers. MORE» |
ANZ exits wholesale funds managementFriday, May 3rd, 10:06AM
ANZ Investments to exit Wholesale business and focus on better outcomes for everyday Kiwi investors MORE» |
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Stewardship reporting steps up in first year of code
In the first year of New Zealand’s Stewardship Code, most of the signatory investment managers released some form of stewardship reporting, a 2023 review shows.
The stewardship reports of three signatories; Milford Asset Management, ANZ and Russell Investments, are provided as examples of investors stepping up their reporting activities.
ANZ’s Sewardship Update was cited for its “clear and succinct summary” of its proxy voting.
From Jul 1 to Dec 31, across 991 unique proposals available to vote, ANZ voted against management 64 times (6 ...MORE»
RBNZ says there's a moral hazard risk with deposit guaranteeThursday, May 2nd, 5:26AM
There's a “moral hazard risk” the the deposit guarantee scheme could lead some people to chase the higher interest rates offered by non-banks, Reserve Bank governor Adrian Orr told journalists. MORE» |
RIAA launches investor guide on AI and human rightsWednesday, May 1st, 6:48AM
Potential harm to people, reputational and operational risk to companies, regulatory and financial risk - all reasons why investors should care about AI and human rights. MORE» |
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