KiwiSaver funds shake off Middle East tension
KiwiSaver funds rebounded in the June quarter, after a rocky start to the year.
Morningstar’s latest KiwiSaver survey shows that KiwiSaver funds under management ended the June quarter at $147.7 billion, up $10 billion over the quarter.
The increase was driven by investor contributions and market returns.
Average returns for multisector funds ranged from 3.3% for the quarter for conservative funds through to 11.9% for aggressive funds.
Morningstar said funds had staged ...MORE»
NZX 50 gains as oil prices ease; Vista hits two-month highMonday, August 3rd, 6:02PM
NZ dollar hits month-low vs yen as Japan, US intervene. MORE» |
Staffing cuts helped Fisher Funds lift annual net profit 21.7%Monday, August 3rd, 7:06AM
Fisher Funds Management has reported a 21.7% jump in annual net profit, mostly reflecting a drop in operating expenses as its staffing numbers fell following the integration of the Kiwi Wealth business. MORE» |
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[The Wrap] What the heck is happening at the FMA?
[OPINION] It would be fair to say the Financial Markets Authority is a bit of a mess at the moment – well at the top level.
The Chairman’s gone and now the Chief Executive, Samantha Barrass has been put on leave around “cultural concerns” within the organisation. (Will she back before her term finishes in January? Wouldn’t bet on it).
There is no doubt there are good people at the regulator trying to do the right thing, but having this much turmoil can't be helping.
For a long time now we have ...MORE»
Michael Lang now controls more than 75% of NZ Funds ManagementFriday, July 31st, 6:12AM
The mystery within New Zealand Funds Management’s accounts appears to have been resolved ahead of deadline with a company associated with chief executive Michael Lang taking a controlling interest in the company’s parent. MORE» |
FMA CEO on leaveWednesday, July 29th, 7:04PM 5 comments
The FMA has been thrown into further turmoil with its chief executive taking “a period of leave from today”. MORE» |
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News Bites
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Kernel goal: Wealth OS for all
Kernal Wealth opened its funky new Auckland HQ last week with bold plans for the future. MORE»
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GoodReturns TV
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[GRTV] FMA puts AI advice and banks’ return to wealth management under spotlight
Watch FMA Director of Deposit Taking, Insurance, and Advice Michael Hewes regulating AI-generated financial advice and why banks should consider getting back into the wealth market. MORE»
The Placebo Effect: Healthcare's Defensive Reputation Under the Microscope
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Are we doing right by our clients when it comes to TPD?
Katrina Church takes a different look at Total Permanent Disablement (TPD). MORE»
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TMM Online
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Mortgage holders still riding lower interest rates
Borrowers paid $4.783 billion in interest on $397.4 billion in residential mortgages outstanding at the end of the June quarter this year, the latest Reserve Bank figures show. MORE»
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Code Committee gets new chair
Angus Dale-Jones steps done as Chairman of the Code Committee after nine years in the role. MORE»
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Active managers slip down KiwiSaver tables
A number of active KiwiSaver providers have failed to fire in the past year, while passive management has come to the fore. MORE»