Heavyweights keep NZX 50 in the green as Infratil knocked by AI woes

Spark NZ extended its gains on the digital services carve-out.

Auckland International Airport buoyed the benchmark (Image: Good Returns)

New Zealand’s S&P/NZX 50 index eked out a gain in a mixed day, as heavyweights Fisher & Paykel Healthcare and Auckland International Airport buoyed the benchmark against the souring appetite for artificial intelligence-linked companies and tech firms.

Stock markets across Asia were mixed as the slide in oil prices ...MORE»

Aurora KiwiSaver becomes Hive, adds third-party managers Tuesday, July 28th, 7:16AM Aurora KiwiSaver has been rebranded as the Hive KiwiSaver Scheme as part of a wider overhaul that brings new investment managers, funds and digital tools into the adviser-focused offering. MORE»

[GRTV] FMA puts AI advice and banks’ return to wealth management under spotlight Monday, July 27th, 8:37AM  1 comment Watch FMA Director of Deposit Taking, Insurance, and Advice Michael Hewes regulating AI-generated financial advice and why banks should consider getting back into the wealth market. MORE»

Sharesies' KiwiSaver still going for growth, reaches break-even on cash flow

Sharesies KiwiSaver offering was marginally cash-flow-positive in the year ended March but its general manager says the focus is still on growth and enhancing its products.

Sharesies Matt Macpherson its KiwiSaver is about chasing scale, not profitability. Pic Supplied

Matt Macpherson says members of the KiwiSaver fund reach about 26,000 at March 31 and has since grown to just over 35,000.

Part of that growth has been fuelled by Sharesies’ offering KiwiSaver accounts for children – “That’s really resonated well,” Macpherson says.

But that’s ...MORE»

Salt's long-short fund chalked up another strong year Thursday, July 23rd, 8:04AM Salt Funds Management’s Salt Long Short Fund had another strong year, earning a $1.3 million performance fee for the year ended March, although that was down from the $1.4 million fee earned the previous year. MORE»

Generate's KiwiSaver funds got their turn in the sun in the June quarter Wednesday, July 22nd, 8:03AM It was Generate’s turn to shine in the league of KiwiSaver returns for the June quarter with its balanced, moderate and conservative funds all delivering the best returns in the three months while its growth fund ranked second best. MORE»

News Bites

Russell Investments sold

A US consortium is planning to buy Russell Investments. MORE»

GoodReturns TV

[GRTV] FMA puts AI advice and banks’ return to wealth management under spotlight

Watch FMA Director of Deposit Taking, Insurance, and Advice Michael Hewes regulating AI-generated financial advice and why banks should consider getting back into the wealth market. MORE»

The Placebo Effect: Healthcare's Defensive Reputation Under the Microscope

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Southern Cross appoints new CEO

Southern Cross recruits its new Chief Executive from a fellow not-for-profit health insurer in Australia. MORE»

TMM Online

Pace of interest rate increases not clear cut

OCR increases are inevitable off the back of yesterday’s 4.1% inflation figure, but the pace of the hikes remains uncertain to a degree, Westpac says. MORE»

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New MDRT NZ leaders

MDRT has named its new executives for the next 12 months. MORE»

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Active managers slip down KiwiSaver tables

A number of active KiwiSaver providers have failed to fire in the past year, while passive management has come to the fore. MORE»