NZX50 sinks 2.1% this week as inflation creep starts to weigh

The a2 Milk Co’s profit warning triggered its worst week since May 2021.

New Zealand’s S&P/NZX 50 index dropped 2.1% this week as the impact of the global energy shock starts fuelling fears the Reserve Bank will hike interest rates as early as July, with a2 Milk Co feeling it most keenly in its worst week since May 2021 after cutting its earnings outlook.

The local benchmark closed Friday on a down note in a wide-ranging selloff, with power companies the biggest ...MORE»

NZX50 joins ASX200 lower as refinery fire weighs Thursday, April 16th, 7:21PM Ebos came in for some selling ahead of next week’s investor day. MORE»

FMA takes pulse of KiwiSaver private assets Thursday, April 16th, 4:33AM KiwiSaver managers are likely to expand their allocation to private assets in the coming years, the Financial Markets Authority says, but one investment adviser says there should be more demand for it than there is. MORE»

Boyle gets dream gig

David Boyle has been appointed as the new Retirement Commissioner takimng over from Jane Wrightson.

David Boyle, who has had a strong focus on retirement savings during his extensive experience in the public and private sectors, has been appointed as Retirement Commissioner.

Commerce Minister Cameron Brewer says Boyle “played a key role in establishing KiwiSaver at ING and is currently the general manager of KiwiSaver at Fisher Funds.

“With our much-loved Baby Boomers now somewhere ...MORE»

FMA to review CoFI Guidance Friday, April 10th, 8:07AM  8 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»

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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FANZ to up the ante against NZ’s soaring medical inflation

Action starts on tackling the rising costs of medical inflation and health insurance premiums. MORE»

TMM Online

Economists at war over OCR forecasts

ANZ suggests the RBNZ will rise three times this year. Kiwibank says "reckless" rate hikes unwarranted. 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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FMA takes pulse of KiwiSaver private assets

KiwiSaver managers are likely to expand their allocation to private assets in the coming years, the Financial Markets Authority says, but one investment adviser says there should be more demand for it than there is. MORE»