Sharemarket investors go bargain hunting

New Zealand shares fell as investors rotated out of the best-performing stocks such as Fisher & Paykel Healthcare, and into some of the cheaper, beat-up firms including Air New Zealand, on the prospect of their recovery.

The S&P/NZX 50 Index declined 38.12 points, or 0.3 percent, to 11,645.32. Within the index, 27 stocks rose, 19 fell, and four were unchanged. Turnover was $206 million.

Companies that have been successful during the pandemic were the biggest decliners on the index today, while struggling travel and retail stocks received a boost as investors positioned for more recovery. 

“Across global ...MORE»

Financial advice makes NZers better off Tuesday, August 11th, 5:00AM  1 comment New data shows that New Zealanders with financial advisers are better off and more confident in their financial lives. MORE»

[GRTV] Too many KiwiSaver managers not adding value Monday, August 10th, 7:11AM A new report on KiwiSaver funds shows the large majority of funds have failed to beat their benchmarks. MORE»

Win for financial advisers as CoFI tweaked

Financial advisers have been granted some leniency under the new Financial Markets (Conduct of Institutions) Amendment Bill.

The bill introduces new conduct obligations for financial service providers.

It requires financial institutions to be licensed in respect of their conduct towards consumers, to treat consumers fairly, to establish a fair conduct programme throughout the business and ensure it is complied with and to ensure all those involved in the chain of distribution comply with regulations that prohibit sales ...MORE»

Free financial advice on offer Monday, August 10th, 5:55AM The FMA has partnered with Financial Advice NZ to make free and generic financial advice available in Hamilton, as New Zealanders take a greater interest in their finances and investments due to the impact of Covid-19. MORE»

Death of small advice firms exaggerated: FMA Friday, August 7th, 7:00AM  2 comments Advisers who have registered for a financial advice provider service on the Financial Services Provider Register but who have not yet finished their application for a transitional licence are being reminded to keep moving. MORE»

News Bites

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BNP to boost offshore capital flows

BNP Paribas Securities Services (BNP Paribas) is intending to engage with the NZX on a new initiative focused on boosting offshore capital flows into NZX to further develop the New Zealand capital market. MORE»

GoodReturns TV

[GRTV] Too many KiwiSaver managers not adding value

A new report on KiwiSaver funds shows the large majority of funds have failed to beat their benchmarks. MORE»

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It starts with governance

Russell Hutchinson discusses the importance of governance in achieving a compliant FAP business. MORE»

TMM Online

OCR Preview: All eyes on quantitative easing

Economists say the Reserve Bank will keep the official cash rate on hold next week, but believe it could expand its quantitative easing programme to push down interest rates. MORE»

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MMC adds to its executive team

MMC have appointed a chief financial officer to join its executive leadership team. MORE»

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'Retirees' stick with KiwiSaver, AMP says

More people over the pension age are choosing to keep their KiwiSaver funds active, AMP Wealth Management says. MORE»