NZ sharemarket ends week down 0.8%

Synlait Milk rose nearly 20% after indicating a return to profitability as the New Zealand sharemarket drifted to a small decline on light trading.

The S&P/NZX 50 Index had a short rise early afternoon to 13,072.69 and closed at 13,024.7, down 35.38 points or 0.27%. The index finished the week with a fall of 0.8% and is down more than 0.2% for the year.

Volumes on the day before Auckland Anniversary Weekend were light, with 23.78 million shares worth $75.45m changing hands.

Matt Goodson, managing director of Salt Funds Management, said the ...MORE»

Biggest has baddest returns Friday, January 24th, 8:20AM Almost all diversified KiwiSaver funds in the Melville Jessup Weaver survey for the December quarter achieved positive returns with growth funds averaging about 4% and conservative averaging about 15 after fees but before tax. MORE»

Angels fear consequences of FMA wholesale investor test case Thursday, January 23rd, 8:54AM Angel investors are concerned their ability to invest in startups could be in jeopardy if the Financial Markets Authority gains support for its stance on wholesale investors’ eligibility. MORE»

Harbour Outlook: So much for the Christmas rally

December saw mixed market movements influenced by currency shifts, central bank actions, and economic trends, shaping the investment outlook for the months ahead.

By Hamish Pepper 

Key market movements



The MSCI All Country World Index (ACWI) increased 3.1% last month, in New Zealand dollar-unhedged terms. The gain, however, was entirely due to a sharp drop in the NZD with the index falling 1.7% in NZD-hedged terms in December – so much for the Christmas rally!

Locally, the New Zealand equity market eked out further gains in December with the ...MORE»

Investor mortgage borrowers’ sentiment takes a nose dive Wednesday, January 22nd, 9:04AM Property investor mortgage borrowers are worried interest rates will rise this year, and this cycle of the market won’t result in firm house price increases. MORE»

Jumping off the short-term interest rate bandwagon Tuesday, January 21st, 9:08AM While borrowers have flocked to floating to one year fixed term home loan rates over the past year in anticipation of interest rate cuts one mortgage broker urges his clients to think about the ramifications carefully. MORE»

News Bites

New Partnership to Upskill New Zealand’s Financial Capability Workforce

A new partnership between Massey University’s Financial Education and Research Centre (Fin-Ed Centre) and the Booster Foundation aims to address gaps in New Zealand’s financial advice sector. MORE»

GoodReturns TV

[GRTV] Stronger and more unified voice needed to force KiwiSaver changes

The Retirement Commissioner Jane Wrightson talks to Philip Macalister about changes she would like to see made to KiwiSaver. MORE»

Harbour Outlook: So much for the Christmas rally

December saw mixed market movements influenced by currency shifts, central bank actions, and economic trends, shaping the investment outlook for the months ahead. MORE»

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[Opinion] CPD – identifying the stuff we don’t know but really should

Opinion: The Code requires advisers to do annual CPD (Continuing Professional 
Development).  I come across various questions from life advisers about CPD, so I thought the beginning of the year might be a good time to share my thoughts on those questions regarding CPD for giving life and health insurance advice (not that required for selling or running your business). MORE»

TMM Online

PM suggests RBNZ make OCR decisions more often

As business confidence improves, Prime Minister Christopher Luxon wants the RBNZ to take more frequent OCR decisions. MORE»

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Milford gets new CEO

Head of listed insurer to take up CEO role at Milford Asset Management. MORE»

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Appeal of one-stop shop helps drive Sharesies’ KiwiSaver growth

Sharesies is a recent arrival on the KiwiSaver scene but says it’s finding favour with customers who access all their investments in one place. MORE»