NZ shares edge higher, boosted by tourism data, earnings
New Zealand shares edged higher as strong tourism data boosted prospects for airports and attraction operators. A2 Milk rose for a third day ahead of the reweighting of FTSE indices that it will have a larger presence in.
The S&P/NZX 50 increased 15.1 points, or 0.2 percent, to 9,375.97. Within the index, 24 stocks gained, 20 fell and six were unchanged. Turnover was $514.1 million.
Volumes earlier in the day were light, with the index also down for much of the day.
Bryon Burke, head of equities at Craigs Investment Partners, said the re-weighting of the FTSE indices, which had also weighed on Sky Network Television ...MORE»
[The Wrap] Friendly fire in responsible investment spaceFriday, September 21st, 1:49PM
Simplicity CEO Sam Stubbs may exclude munitions from the funds' investments, but he sure knows how to lob a grenade. MORE» |
Fund managers angry at poor gradesFriday, September 21st, 6:00AM 2 comments
Fund managers have hit out at a new KiwiSaver switching platform, which has awarded them dismal grades for their ESG work. MORE» |
Working group acknowledges few incentives to save
Requests for reinstatement of tax incentives on long-term saving have been heard by the tax working group pondering the future of New Zealand’s taxation system.
The Sir Michael Cullen-chaired group has today delivered its interim report.
During the submission process, many financial services sector submitters told the group that change was needed to encourage people to put their money into long-term savings schemes and other non-property investments.
At present, KiwiSaver contributions come from taxed income, and returns on the investments within the scheme ...MORE»
Fund managers hypocritical on RI: StubbsThursday, September 20th, 6:00AM 7 comments
Fund managers that offer both “ethical” and “normal” investment strategies to clients are “hypocritical” in their approach to responsible investing, according to the managing director of KiwiSaver provider Simplicity. MORE» |
Kerr's PGC, and Barnes's Bath St go another roundWednesday, September 19th, 7:09AM 1 comment
Pyne Gould Corporation and Bath Street Capital are again firing shots at each other, and set to head back to the High Court. MORE» |
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News Bites
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Unlisted property funds get AA rating
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GoodReturns TV
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[GRTV] Pie Funds Management CEO, Mike Taylor is in studio
Mike Taylor chats positive changes and growth for Pie Funds MORE»
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Kepa takes stake in another advice business
Adviser group Kepa is continuing its process of striking alliances with New Zealand financial advice businesses. MORE»
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TMM Online
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OCR to stay at record low: Preview Survey
New Zealand’s top economists predict the Reserve Bank will hold the Official Cash Rate next week, as the central keeps a close watch on GDP growth and inflation. MORE»
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Devon continues to invest in their team and infrastructure
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AFA concerns on back-burner for now
Financial advisers who raised concerns about KiwiSaver have been told a review of default provider arrangements will consider those issues – but not until next year. MORE»
