Planners get onlineOrds extend date
Ord Minnett has extended the closing date for its Series 2 OM-IP 220 a week to December 12.
The investment is a capital guaranteed investment fund which aims to generate medium term capital growth in excess of 20 per cent annually.
A portion of the investment is placed into bonds which ensures investors at maturity are paid back their initial investment amount. Two fund managers invest the balance of the money. At maturity a percentage of their profits are paid to investors.
Stock Exchange expands game
The success of the Stock Exchange's secondary schools Stockmarket Game has convinced it of the need to extend it to the general public.
The exchange says more than 3500 students and teachers have taken part in the game in the past year.
In 1998 the game is rechristened, the NZSE Stockmarket Challenge, and it is offered in two versions. One is open to the general public and the other is open to schools with a student and a teacher challenge.
Both games are played via the Internet. The school version runs for six months from March 9 to August 28 and there are two public games, the first from January 21 to June 24 and the second running from July 20 to December 18.
It costs $45 to play the game and details can be found at the exchanges web site, http://www.nzse.co.nz or further information can be gained by emailing Alison Sutherland at alison@nzse.co.nz
New mortgage lender
National Mutual and Harcourts real estate group launched their joint venture home loan business, Mortgage Express last week.
The company kicked off its operations by offering floating mortgages at 8.95 per cent, which was probably the lowest rate of the day, and up to a whole one per cent less than what bank's were offering.
The company is using a string of mobile managers to visit applicants, rather than taking the do-it-yourself approach adopted by other players.
Former Public Trust executive Russell Gray is chief executive of the business. Mortgage Express can be found on the Internet at http://www.mortgage-express.co.nz
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