Mint axes performance fees
Mint Asset Management is removing its performance fees on retail funds and founder Rebecca Thomas says the Financial Markets Authority should monitor what other managers are charging.
The industry has been shifting away from performance fees in recent years but it follows a long run of strong markets, which have proved lucrative for many.
It was warned last year that some managers were claiming performance fees even when they did not outperform the market.
Mint’s Australia New Zealand Active Equity Trust (Retail) fund charges 10% on outperformance above the NZX50 plus 3% ...MORE»
NZ shares rise on Fed restraint, local GDP growth; Auckland Airport slidesThursday, March 21st, 5:57PM
New Zealand shares rose after the US Federal Reserve signalled no rate rises there this year and local GDP data came in stronger than many economists had expected. Auckland International Airport extended its decline from a record, while also shedding rights to its interim dividend. MORE» |
Fund managers question social media investmentsWednesday, March 20th, 7:00PM
New Zealand fund managers may reassess their investments in Facebook in the wake of Christchurch’s mosque shootings, as a group of large-scale investors call for change. MORE» |
Sponsored Content
Embrace change & strengthen your business with The Adviser Platform
New Zealand’s financial adviser industry is changing. The Adviser Platform (TAP) is here to help advisers who are driven to succeed, by providing them with the tools and support they need to remain fully compliant so that they can focus on creating long-term success. MORE »
Exciting opportunity in the Bay of Plenty with Mike Pero!
Existing franchise for sale, with database. MORE »
FSLAB now next month's business
Anyone waiting for the Financial Services Legislation Amendment Bill to become law will have to hang on until at least April 2.
The bill had been at number five on the parliamentary order paper for today.
But, in the aftermath of the Christchurch mosque shootings, plans have changed.
Today's session including a speech from Prime Minister Jacinda Ardern and responses from other party leaders. The House then adjourned until Wednesday afternoon.
But the plan for Wednesday is also for a shortened session.
Leader of the ...MORE»
FNZC no longerTuesday, March 19th, 6:00AM
Investment and advisory firm FNZC is rebranding from the middle of this year. MORE» |
Faafoi: Tell your clients how you're paidMonday, March 18th, 6:00AM
Advisers need to give their clients information about commissions or other advice incentives that have the potential to influence the service they receive, the Commerce Minister says. MORE» |
|
News Bites
|
ETFs popular with direct clients
Index funds are the top seller at InvestNow so more products have been added to the shelf. MORE»
|
GoodReturns TV
|
[GRTV] Great advice from the best
In our second show from the Financial Advice NZ conference Good Returns talks with popular keynote speakers Don Connelly and Michael Harrison. MORE»
|
Sponsored by: |
|
Advisers need $2000, clients will pay $500
Australian research has shown a disconnect between what clients are prepared to pay for risk advice and what advisers would need to charge – and commentators say the same situation would be found in New Zealand. MORE»
|
TMM Online
|
Four credit unions vote through merger
Four of New Zealand's major credit unions have voted 'yes' to a nationwide merger — but one party has dropped out of the deal. MORE»
|
Sponsored by: |
|
de Marigny to leave AIA/Sovereign
AIA/Sovereign recruits from Hong Kong to fill Chief Partnership Insurance Officer following the resignation of a long-standing staffer MORE»
|
Sponsored by: |
|
NZ Funds KiwiSaver Scheme top rated for service
NZ Funds was the top rated KiwiSaver Scheme in New Zealand for service with a score of 99% as ranked by Sorted. MORE»
