Tourism Holdings bounces as NZX trades flat on low volumes

The New Zealand stock market ended Tuesday slightly up on subdued volumes.

The benchmark S&P/NZX 50 climbed 0.09% to 12,689.63 points on Tuesday, with 27.5 million shares changing hands, amounting to $92.2m in value traded.

It was the second day investors failed to stump up $100m on the exchange this week.

Paul Robertshawe, Octagon's chief investment officer, said investors may be taking a breather ahead of earnings season, which will kick off in mid-August.

“There’s ...MORE»

Big, fat beautiful fees Tuesday, July 15th, 9:42AM  1 comment Banks have lobbied themselves another profit centre under open banking, which could kill fintech innovation, Sam Stubbs of KiwiSaver Simplicity says. MORE»

Trust Management starts push into financial advice market Monday, July 14th, 6:00AM After two decades in the institutional market, Trust Investments is expanding into financial advice channels. MORE»

Salt's Long Short Funds delivers the manager a big payday

Salt Funds Management’s Sale Long Short Fund performed well enough to earn the management team a performance fee, which is why the fees earned jumped to $2.9 million in the year ended March from $1.1 million the previous year.

Salt director Matt Goodson says the fund’s benchmark is cash plus 5% and that it has “a forever high water mark,” meaning any failure to meet that return has to be made up before any performance fees can resume.

“It requires genuine out-performance to get paid,” Goodson says.

Salt’s website shows the fund’s annual returns at May 31 were 10.63% since inception ...MORE»

Jarden Securities ex-wealth lifts annual net profit 26% Tuesday, July 8th, 4:42PM Jarden Securities' annual net profit excluding the since-sold wealth management business jumped 26% while revealing that investment banking and unrealised capital gains contributed the bulk of the increase. MORE»

Nikko expands Goals Getter fund range Friday, July 4th, 8:23AM In a week of new fund offerings Nikko is the latest to add new funds to its offering. MORE»

News Bites

AI provider to KiwiSaver secures funding

Sevaka secures $1 million to scale AI platform for financial services. MORE»

GoodReturns TV

[GRTV] Antipodes portfolio manager discusses emerging markets fund's potential amid volatility

Antipodes Portfolio Manager John Stavliotis discusses the opportunities in emerging markets, their strong growth potential and diversification benefits.  MORE»

Fin Ed is Good Ed

For most Kiwis growing up in New Zealand financial education was a hands-on experience. We’d earn $1 from weekly chores, deposit 50 cents into our Post Office savings account, and spend the rest at the tuck shop—back when 50 cents could buy heaps and even leave you with change. MORE»

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Mutual insurance returns to market

South African-based insurer PPS Mutual has been granted a licence to operate in New Zealand by the prudential regulator the Reserve Bank. MORE»

TMM Online

Big, fat beautiful fees

Banks have lobbied themselves another profit centre under open banking, which could kill fintech innovation, Sam Stubbs of KiwiSaver Simplicity says. MORE»

Sponsored by:

Fisher Funds makes new private equity hire

A month after it announced plans to invest $1 billion in private equity Fisher Funds makes an important new hire. MORE»

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KiwiSaver is the future of financial advice: Bascand

More than a million people will be seeking advice on their KiwiSaver, Harbour Asset Management co-chief executive Andrew Bascand says. MORE»