Passive funds push NZX 50 higher
New Zealand shares bounced back from a losing streak as fund managers who track the S&P/NZX and FTSE Russell indices completed their quarterly portfolio rebalance.
The S&P/NZX 50 Index rose 155 points, or 1.2%, to 13,234.55. Turnover was elevated at $883 million with an extended session to facilitate the rebalance.
Earlier this month, logistics company Mainfreight hit a record high after FTSE announced it would be included in its global small-cap index, along with travel booking company Serko.
Both stocks saw their share prices pushed higher as active fund ...MORE»
How many Kiwis has KiwiSaver Saved?Friday, September 17th, 6:01AM
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BNZ cuts KiwiSaver and managed fund feesThursday, September 16th, 2:48PM
In efforts to protect its status as a default KiwiSaver provider, the BNZ will lower fees for its KiwiSaver and YouWealth funds to 0.45% at the end of the month. MORE» |
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Best ever returns for NZ Super Fund
The NZ Super Fund has posted its strongest annual return in its 20-year existence but says it doesn't expect those high rates of return to continue forever.
In the last 12 months, the fund has grown by $15 billion to $59.5 billion, an increase of 29.63% after costs and before tax.
Chief executive Matt Whineray says the result is an exceptional one for the fund, which was set up in 2001 to create a Government nest egg to help pay for future universal superannuation costs.
“This past year demonstrates the importance of sticking to our long-term investment ...MORE»
Cryptocurrencies: MPs hear the good, bad and uglyTuesday, September 14th, 6:17AM
Cryptocurrency advocates say embracing the new digital technology is a once in a generation opportunity while New Zealand's major financial regulators have adopted a more cautious approach to the controversial currency. MORE» |
New CEO for the FMAMonday, September 13th, 11:57AM 8 comments
The Financial Markets Authority has announced the appointment of an experienced international regulator to take over from Rob Everett who leaves at the end of October. MORE» |
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FSC conference changes announced
The Financial Services Council (FSC) conference - ReGenerations Reimagined - which was to be held on September 22 and 23 has been postponed until December with some content going online in October and November. MORE»
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GoodReturns TV
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[GRTV] Time for a new code for managers
New Zealand needs a stewardship code that would require institutional investors to be transparent about their investment processes, engage with investee companies and vote at shareholders’ meetings. MORE»
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Investments
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How many Kiwis has KiwiSaver Saved?
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Surplus growth, membership up for Southern Cross
Southern Cross Health Society Group has posted a surplus of more than $50 million while also growing its membership numbers by more than 8500 and paying out more than a billion dollars in claims. MORE»
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TMM Online
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Hardship clients face credit issues
Clients making mortgage deferral requests during lockdown have been told their hardship status will affect their credit rating, according to an Auckland-based adviser. MORE»
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Craigs IP exec heads to NZX Wealth
Craigs Investment Partners' long-serving head of client services has left the company and has made the move to NZX Wealth Technologies to take up the role of chief operating officer. MORE»
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BNZ goes live with MMC’s registry services for KiwiSaver
BNZ have gone live with MMC’s registry services to support its default KiwiSaver scheme. MORE»
