NZX50 slumps as Trump orders Iran blockade; a2 Milk sinks on profit warning

Fonterra goes with another internal CEO succession.

New Zealand’s S&P/NZX 50 index tumbled as US President Donald Trump’s proposed blockade of the Strait of Hormuz sent oil prices higher, and reignited fears of a protracted conflict in the Middle East.

The a2 Milk Co was a drag on the benchmark as it sank the most in 19 months after warning that supply disruptions threatened to knock earnings in the last few months of the financial ...MORE»

FMA to review CoFI Guidance Friday, April 10th, 8:07AM  2 comments The Financial Markets Authority (FMA) is considering a limited review of the Conduct of Financial Institutions (CoFI) Intermediated Distribution Guidance before the end of this financial year, confirmed FMA director Michael Hewes. MORE»

Industry wary of KiwiSaver changes Thursday, April 9th, 9:16AM KiwiSaver providers are cautiously supportive of changes to make it easier for farmers to buy homes – but would prefer the tinkering with the system stopped. MORE»

Active manager (sort of) leaves the passive house

NZX’s active management business, QuayStreet Asset Management, is being given a bit more free reign.

As reported earlier QuayStreet’s management is being “externalised” effectively separating it from the Smart business.

The fund manager will be run by a newly established, and independently owned entity, QuayStreet Group.

“The new structure allows QuayStreet to grow its customer base and for Smart and NZX to benefit from its future success. The parties have entered into a ...MORE»

Bond funds likely to deliver out-sized returns: Amova Wednesday, April 1st, 7:07AM Financial markets have priced too much inflation risk into longer-term fixed interest yields, according to Fergus McDonald, head of the bond and currency team at Amova Asset Management. MORE»

Longwave aims to smooth the waters Tuesday, March 31st, 6:00AM For clients approaching retirement, consistent returns become more important than producing the highest possible returns, and so the Longwave Australian Small Companies Fund aims to deliver consistent returns, according to chief investment officer David Wanis. MORE»

News Bites

PAA Legacy Trust supports FANZ

Financial Advice New Zealand (FANZ) has entered a long term strategic partnership with the PAA Legacy Trust to support further development of Campus, its adviser-led, professional development hub designed to deepen capability across the financial advice profession. MORE»

GoodReturns TV

Fisher Funds moves to woo advisers back

After years of neglecting the adviser market, the investment manager is going on the charm offensive.   MORE»

Markets intepret OCR review to be on the hawkish side

Financial markets have interpreted the Reserve Bank’s official cash rate (OCR) decision as somewhat more hawkish than expected, pushing the Kiwi dollar higher while wholesale interest rates also rose. MORE»

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Fidelity building register to help firms connect with Career connect graduates

Fidelity Life marks 2025 Career connect milestone with record 29 graduates MORE»

TMM Online

Mortgage enquiries sink as war drags on and interest rates rise

High fuel prices because of the US and Israel war with Iran, rising interest rates, an increase in banks’ servicing test rates, election year wobbles and general uncertainty over the economy have meant a noticeable drop in mortgage enquiries. MORE»

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Mercer appoints BDM to work with advisers

Former Smartshares General Manager of Business Development and Distribution joins Mercer.  MORE»

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Industry wary of KiwiSaver changes

KiwiSaver providers are cautiously supportive of changes to make it easier for farmers to buy homes – but would prefer the tinkering with the system stopped. MORE»