NZ shares fall as Gentrack paints grim earnings outlook
New Zealand shares fell today with Gentrack leading the market lower as the software company painted a grim picture for future earnings.
The S&P/NZX 50 Index fell 53.26 points, or 0.5 percent, to 11,746.95. Within the index, 25 stocks fell, eight held steady and 17 rose. Turnover was $81.1 million.
Gentrack sank 13.6 percent to $2.35, below the $2.40 price the shares were sold at in a 2014 initial public offering. The utilities software developer said annual earnings will drop by as much as two thirds as tighter regulation in Australian ...MORE»
Female advisers put off by boozy networkingMonday, January 20th, 5:00AM 3 comments
New Zealand's financial advice industry is suffering a lack of women because they feel pushed out by male-dominated events, such as networking that revolves around drinking, new research has found. MORE» |
David Whyte's 5 predictions for 2020Saturday, January 18th, 6:00AM 2 comments
Last week Good Returns published five predictions for the year ahead. This week guest contributor David Whyte offers his five predictions for 2020. As he says: "All of which will, of course, come to pass and be regarded as prophetic, insightful, and accurate. Or none of them will come to fruition and will have as much value as an Iranian Rial." MORE» |
Pie Funds: We had too much cash
Pie Funds founder Mike Taylor says holding too much cash through the start of 2019 ended up costing its funds' returns.
Taylor said at the end of 2018, share markets had been through a sharp downturn – the worst December for the S&P 500 on record.
His fund managers responded by moving funds very defensively to up to 60% cash.
But the downturn did not last as long as Pie Funds expected, which was to its detriment and Taylor said it was too slow to jump back in to the market. "It was the right call at that time … ...MORE»
What's happened to the $2mill from PAA's holiday homes?Thursday, January 16th, 6:21AM
The Professional Advisers Association (PAA) controversially sold its holiday homes in 2016 netting around $2 million; but what's happened to that money? Susan Edmunds investigates. MORE» |
First profit forecast for Stewart's Retirement Income Group; Plus new productsWednesday, January 15th, 6:00AM
Ralph Stewart's Retirement Income Group is aiming to break into profit this year as well as rolling out a new product and establishing operations in another country. MORE» |
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UDC debenture programme all paid out
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[GRTV] Apathy still reigns amongst advisers
Finzo chief executive Nick Stewart worries about the lack of guidance on FAPs and suggests regulators should be taking a stronger line of the upcoming changes. MORE»
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[OPINION] Turbulent year ahead
Insurance industry veteran David Pine says 2020 is going to be a turbulent year in the insurance arena; both life and health, and fire and general. But it's not all bad. MORE»
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CFML secures $100 million funding line from Westpac
Non-bank lender Conrad Funds Management plans to increase mortgage lending in 2020 with a new $100 million funding line from Westpac. MORE»
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Fisher Funds distribution head moves on
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Kōura: People see advice and KiwiSaver as distinct
New KiwiSaver provider Kōura is providing more advice to KiwiSaver members than initially expected – but not converting as many as had been hoped to members. MORE»
