NZ sharemarket continues sliding, down 0.5%

The New Zealand sharemarket slipped more than 0.5%, while telco Spark has now netted $1.2 billion from exiting the mobile towers business.

The S&P/NZX 50 Index slumped in the afternoon and closed at 12,692.72, down 68.47 points or 0.54% after reaching a morning high of 12, 779.54.

Trading was lighter, with 35.88 million shares worth $136.21m changing hands.

'Quite tight'

Greg Smith, head of retail with Devon Funds Management, said the market was soggy like the weather and “as we head into the quiet holiday period, ...MORE»

No deal between ANZ Investments and Mercer Tuesday, December 10th, 3:47PM The $30 billion-plus ANZ Investments and global investment manager Mercer have abandoned their partnership deal. MORE»

Tax settings tweak could help grow local ETFs Tuesday, December 10th, 9:10AM A review of tax settings for different fund structures alongside a maturing market approach to portfolio builds could help support the growth of New Zealand’s local ETF market, says Smart CEO Anna Scott. MORE»

Market maturity barrier to ETF growth in NZ

Exchange traded funds have surged in popularity globally but the New Zealand financial services industry has yet to fully embrace them, according to some advisors.

Once a niche investment product when they were first created in the 1990s, PwC estimates ETF assets under management globally will reach at least US$19.2 trillion by June 2028, from US$11.5 trillion at the end of 2023. The consultancy’s research also found the number of managers offering ETFs has more than doubled since 2013.

New Zealand’s market size, and the relatively small amount of ...MORE»

Advisors must take note of supervisor guidelines on AML/CFT Thursday, December 5th, 9:57AM  2 comments Ignore supervisor guidelines at your peril is the advice from compliance firm Strategi as AML/CFT undergoes a makeover and fresh regulations come into force. MORE»

Investors’ eyes are on the prize with growth in impact funds Tuesday, December 3rd, 2:16PM Impact funds have seen significant growth leaping from $1 billion to $5 billion of assets under management within a year. MORE»

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

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Harbour Investment Outlook: Let the good times roll

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Meaningful difference seen as coming from Kiwibank’s capital raise

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Partners nabs CFO from competitor

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KiwiSaver assets grow to $117.6 bill

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