NZ sharemarket down 0.8%, ASX almost double that
The New Zealand sharemarket remained stoic as its counterpart across the Tasman plunged more than 1.5% from record highs on increasing bond yields.
The S&P/NZX 50 Index fell sharply at the opening, then traded steadily till a late dip and closed at 12,813.15, down 110.07 points or 0.85% after reaching an intraday low of 12,800.6.
Trading was heavy, with 57.63 million shares worth $262.49m changing hands.
The US deficit
Matt Goodson, managing director of Salt Funds Management, said the local market did quite well considering the fall in ...MORE»
KiwiSaver shortcomings identified in global reportSaturday, October 19th, 6:11AM
Bumping up KiwiSaver contributions and introducing a carer’s savings credit for those with young children are among the improvement measures identified in a new report benchmarking New Zealand against other countries’ pension systems. MORE» |
AI forecast to take care of majority of advisor loan dealsFriday, October 18th, 9:03AM
Artificial intelligence will be able to handle up to 80% of advisor loan deals within seven years according to the founder of Australasian asset loan broker LoanOptions.ai. MORE» |
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New Zealand Equity Monthly September 2024
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Southern Cross Health Society Group annual results reflect steep increase in demand for private healthcare
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KAN chair calls for financial advisers to be exempt from CoFi
David Seymour's Ministry for Regulation should exempt Class 1 and Class 2 financial advice providers (FAPs) from complying with the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFi), according to consultant David Whyte.
Class 1 FAPs are sole advisers while Class 2 providers are groups of advisers.
Whyte, who chairs the Kiwi Advice Network (KAN) and owns the DCW Management consultancy, says that only the financial product advisers should have to comply with CoFi.
Advisers already have “a clear fiduciary duty to represent their clients' interests” under other financial services legislation, such as ...MORE»
Retail investors seek relative safety in managed funds and ETFsTuesday, October 15th, 4:23PM
Sharesies’ latest quarterly index shows the platform’s retail investors have become increasingly shy on company-specific investment, favoring a diversified approach in what’s been a volatile period for markets. MORE» |
Tattoo removal and IVF companies are part of Generate's new PE dealFriday, October 11th, 3:46AM
Generate KiwiSaver makes another investment into private equity. MORE» |
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Select Wealth joins $1 bill club
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[GRTV] Stronger and more unified voice needed to force KiwiSaver changes
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Last week the RBNZ came through with a “super-sized” rate cut of 0.5% that many economists proclaimed they had predicted. The move was not exactly a huge call given the state of the economy. Another 25bps was arguably an option, and investors took heart that the cut was larger. A more aggressive central provides a prospective tailwind for exporters. Falling interest rates significantly boost the appeal of high dividend companies. MORE»
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ASB recruits for Chief Investment Officer
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KiwiSaver shortcomings identified in global report
Bumping up KiwiSaver contributions and introducing a carer’s savings credit for those with young children are among the improvement measures identified in a new report benchmarking New Zealand against other countries’ pension systems. MORE»
