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Last Article Uploaded: Tuesday, June 2nd, 11:50AM

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ANZ sells UDC - again

ANZ has agreed to sell its asset finance business, UDC Finance Limited (UDC), for $762 million to Shinsei Bank, a higher price than that of the blocked 2017 sale to HNA.

Tuesday, June 2nd, 11:46AM

The sale follows a strategic review of UDC previously announced by ANZ, and is in line with ANZ’s strategy to simplify its business.

The purchase price represents a price-to-book ratio of 1.2x net tangible assets of $637 million as at 31 March 2020.

The sale will release over NZ$2 billion of funding provided by ANZ NZ, further strengthening its balance sheet position.

ANZ NZ chief executive ...MORE»

FSCL's 'allegations against a very senior parliamentary officer'

Tuesday, June 2nd, 6:00AM

Financial Services Complaints Ltd (FSCL) has been dealt another blow in its long-running battle to call itself an ombudsman scheme.

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[The Wrap] Things returning to normal

Friday, May 29th, 6:34PM  1 comment

It feels as though things are starting to return to some normality - other than a few bombshell announcements. For the past couple of weeks my Wrap has failed to see the light of day; partly as I was not particularly happy with them and where they were going. Today is different.

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NZ shares outperform weaker global markets

New Zealand shares edged higher today as positive earnings counterbalanced a weak lead from Wall Street as investors eyed escalating US-China tensions.

Friday, May 29th, 6:33PM

The S&P/NZX 50 Index rose 25.72 points, or 0.2 percent, to 10,882.41, taking the monthly gain to 3.3 percent. Within the index, 25 stocks rose, 22 fell, and three remained unchanged.

Turnover was $867.9 million with volumes boosted by the monthly reweighting of the MSCI Equity Indices. Fletcher Building, up 2 percent at $3.51, saw 82.7 million shares traded.

Stocks on Wall Street were weaker ...MORE»

Digital advice the mass market solution: Carlyon

Friday, May 29th, 6:39AM  3 comments

All KiwiSaver providers should be required to have a roboadvice offering, kōura founder Rupert Carlyon says.

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FMA warns adviser over advice to go conservative

Thursday, May 28th, 10:07AM  6 comments

The Financial Markets Authority (FMA) has issued a formal warning to an AFA who made recommendations to clients that they urgently move their investments to low risk funds in the wake of Covid-19.

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Professional IQ launches level five version two

Monday, May 25th, 4:23PM

Professional IQ College (PIQ) is now open for enrolments for version two of the New Zealand Certificate in Financial Services (level five). MORE»

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[GRTV] Investment themes for this decade

Sunday, March 22nd, 10:00AM

AMP Capital managing director Bevan Graham talks about the topic of the momnet, corona virus, the big investment theme for this decade and the future of the business post the sale of AMP. MORE»

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Fidelity Life chief executive stands down

Thursday, May 28th, 1:59PM

Life insurer Fidelity Life has announced the resignation of chief executive Nadine Tereora. MORE»

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ASB to help bereaved borrowers

Tuesday, June 2nd, 9:44AM

ASB has pledged to pay customers' mortgage interest for a year if another borrower on the home loan dies.  MORE»

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New independent director at Partners Life

Wednesday, May 27th, 12:34PM

Former BNZ executive joins Partners Life board. MORE»

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Financial advice saving retirement futures: Adviser

Monday, June 1st, 12:51PM

A financial adviser who offers digital advice on KiwiSaver says he’s seen a “huge uptick” in demand for help during the Covid-19 disruption – and those who have received guidance have made it through the market volatility in better shape. MORE»

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