Tourism Holdings and inflation updates drive movement

The New Zealand sharemarket fell today as the reporting season ended, with the market now beholden to ongoing international impacts.

The S&P/NZX 50 Index closed up 0.42% or 51.07 points, rising to 12,118.99, with 38 million shares changing hands to the value of $115.1m.

The S&P/NZX20 index closed at 7,201.19, up 0.39%, while the S&P/NZX10 index closed at 1,831.27, up 0.27%.

There were 78 gainers on the main board and 54 decliners.

Tourism woes

The story of the day was with Tourism Holdings (THL), which in an update ...MORE»

Another KiwiSaver scheme joins the market Thursday, April 17th, 7:33AM Consilium is launching an own brand KiwiSaver to sit alongside its premium KiwiWrap scheme. MORE»

Elevation Capital joins forces with Blackbull analyst Eden Bradfield Wednesday, April 16th, 8:28AM Elevation Capital founder Chris Swasbrook is expecting that the huge following Blackbull Markets analyst Eden Bradfield has built up will be instrumental in helping to grow the size of his firm’s funds under management, currently $175 million. MORE»

Non-banks may offer lower rates under deposit insurance scheme

A soon-to-be-introduced deposit insurance scheme – one of the largest changes to New Zealand’s financial system in some time – will offer greater protection to Kiwi investors, but could see deposit interest rates fall significantly, according to a new report.

Administered by the Reserve Bank of New Zealand, the Deposit Compensation Scheme (DCS) is a formal, government-backed guarantee of deposits in New Zealand banks and other licensed deposit taking institutions. The scheme, expected to be introduced in July this year, will provide ‘deposit insurance’ for up to $100,000 per depositor, per institution.

Professor David Tripe, director of Gold ...MORE»

[Opinion] Life advisers need a mindset change: away from ‘we sell’ to ‘we advise’. Friday, April 11th, 9:52AM  6 comments Opinion: Selling is essential in life insurance, but as necessary as it is, it must now be accompanied by suitable advice. We live in a new advice environment – changes are likely needed from what we did before because there are several new expectations. MORE»

Data privacy and accuracy top AI fears Friday, April 11th, 8:18AM A snapshot of AI use by financial planners globally has found more than half are using it in their businesses despite sharing some of the common concerns with other professions about the rapid technological shift. MORE»

News Bites

TA Associates deal to buy Craigs stake clears hurdles

Craigs Investment Partners shareholder have approved a proposal to sell a 50% share in the company to global private equity firm TA Associates. MORE»

GoodReturns TV

[GRTV] Antipodes portfolio manager discusses emerging markets fund's potential amid volatility

Antipodes Portfolio Manager John Stavliotis discusses the opportunities in emerging markets, their strong growth potential and diversification benefits.  MORE»

Economic vandalism

With Donald Trump having delivered a seismic shock to world trade, and then “back-flipped,” the benefit of a adopting a “cool head” has never been more apparent. MORE»

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Explaining Non-Pharmac medicines coverage

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TMM Online

More OCR cuts on the cards later this year

ANZ is adding two more OCR cuts to its economic forecast after next month’s expected drop to  3.25%. MORE»

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Generate promotes one of its distribution team

Generate appoints Marc Grigg as national investment distribution manager. MORE»

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Volatility and Illiquidity to become KiwiSaver norm

Advisers will need to do plenty of client hand-holding as balances increasingly battle volatility and managers delve into more illiquid assets, according to research house Morningstar. MORE»