NZ shares gain; index reweighting drives heavy trading in Kiwi, Kathmandu
New Zealand shares rose in heavy trading as Kiwi Property Group and Kathmandu Holding gained on strong volumes, with the quarterly index reweighting driving traffic.
The S&P/NZX 50 Index increased 28.34 points, or 0.3 percent, to 10,829.39. Within the index, 34 stocks rose, 11 fell, and five were unchanged. Turnover was $282.9 million, with 17 stocks trading on volumes of more than a million shares.
The benchmark index ended the week marginally lower, down 0.3 percent, as investors weighed up the impacts of geopolitical uncertainty, ranging from a spike in ...MORE»
Strong response expected to KiwiSaver default review: GovtFriday, September 20th, 6:00AM
Government officials expected the discussion paper proposing reform of the KiwiSaver default fund arrangement would provoke "full and rigorous debate", a cabinet paper reveals. MORE» |
Advisers directing clients to DIY: HatchThursday, September 19th, 6:00AM 3 comments
Advisers are directing clients to digital platforms to carry out their investment plans, the general manager of Hatch, Kristen Lunman, says. MORE» |
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ASB adds impact to its fund range
ASB has added two new funds to its stable of investment options – the ASB KiwiSaver Scheme Positive Impact Fund and the ASB Investment Funds Positive Impact Fund. Both will have a focus on investing in companies that are making a positive impact on society or the environment.
The decision to launch the funds was based off an increasing demand from customers who want to put their savings to work to give the world a better future, but still want solid long term returns.
ASB’s executive general manager private banking, wealth and insurance Adam Boyd says, “these funds are a great option for those who want more than our broader approach to responsible investment ...MORE»
Commission structure may need Govt intervention: FMAWednesday, September 18th, 6:00AM 13 comments
An insurance industry reluctant to move on high upfront commissions may find the Government does it for it, the Financial Markets Authority says. MORE» |
Insurer response 'not good enough'Tuesday, September 17th, 10:03AM 6 comments
Commerce Minister Kris Faafoi says insurers are "passing the buck" to advisers. MORE» |
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Advisers feeling overwhelmed by change and scrutiny, group says
Financial advisers are struggling mentally with the amount of change they are being forced to go through and need more than just business and licensing support, one dealer group says. MORE»
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OCR Preview: economists predict no change
Economists believe the Reserve Bank will hold fire on making further cuts to the Official Cash Rate next week, with a further cut more likely in November. MORE»
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Anti-commission advocate appointed to FMA board
Two new appointments have been made to the Financial Markets Authority board; One is opposes commission payments and the other a director who has polarised people. MORE»
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FSC KiwiSaver overhaul: Boost access to advice
Financial advice could be provided free or at a discount to SuperGold cardholders, or be made tax-deductible, the Financial Services Council has suggested among its package of recommendations to overhaul KiwiSaver. MORE»
