F&P Healthcare drop leads NZX lower, rural stocks show strength

Declines in some leading stocks drove the New Zealand sharemarket lower, masking a positive tone in many stocks with exposure to the rural sector.

The benchmark S&P/NZX50 index ended 73.52 points or 0.58% down at 12,686.68, with 23.5 milllion shares, worth $101.05m trading.

There were 70 rises and 65 falls on the main board.

On Wall Street, the S&P 500 and Nasdaq Composite both closed at all-time highs of 6,280.46 and 20,630.67, respectively. The Dow Jones Industrial Index gained 192 points, or 0.43%, to finish at 44,650.64.

Tariff ...MORE»

Salt's Long Short Funds delivers the manager a big payday Friday, July 11th, 1:15PM Salt Funds Management’s Sale Long Short Fund performed well enough to earn the management team a performance fee, which is why the fees earned jumped to $2.9 million in the year ended March from $1.1 million the previous year. MORE»

Jarden Securities ex-wealth lifts annual net profit 26% Tuesday, July 8th, 4:42PM Jarden Securities' annual net profit excluding the since-sold wealth management business jumped 26% while revealing that investment banking and unrealised capital gains contributed the bulk of the increase. MORE»

Adviser feedback spurs AIA coverage updates

Changes included buyback options for life cover and an expanded out-of-hospital cardiac arrest definition.

AIA NZ's recent overhaul of its critical illness insurance buyback options gives customers a 60-day window to reinstate their life cover immediately after making a claim. It has also expanded its out-of-hospital cardiac arrest definition to include more types of evidence.

The changes, which took effect in May, apply retroactively to existing policies dating back over two decades. With a high cost ...MORE»

Nikko expands Goals Getter fund range Friday, July 4th, 8:23AM In a week of new fund offerings Nikko is the latest to add new funds to its offering. MORE»

A new PIE with a different flavour Thursday, July 3rd, 8:27AM Insync Funds Management, a long-established specialist global equities manager based in Sydney, has registered the PIE version of its flagship Insync Global Quality Equity Fund. MORE»

News Bites

AI provider to KiwiSaver secures funding

Sevaka secures $1 million to scale AI platform for financial services. 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»

Fin Ed is Good Ed

For most Kiwis growing up in New Zealand financial education was a hands-on experience. We’d earn $1 from weekly chores, deposit 50 cents into our Post Office savings account, and spend the rest at the tuck shop—back when 50 cents could buy heaps and even leave you with change. MORE»

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Is Pharmac improving?

Russell Hutchinson checks back on two desperate families who sought to raise money to buy non-funded drugs to see how they got on. MORE»

TMM Online

Significant number of borrowers still hanging out for OCR cuts

Even though the OCR didn’t budge yesterday, a sizeable chunk of mortgage holders are expected to keep fixing at floating rates in the hope there will be further cuts. MORE»

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Fisher Funds makes new private equity hire

A month after it announced plans to invest $1 billion in private equity Fisher Funds makes an important new hire. MORE»

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KiwiSaver is the future of financial advice: Bascand

More than a million people will be seeking advice on their KiwiSaver, Harbour Asset Management co-chief executive Andrew Bascand says. MORE»