Weekly briefs

Brackenfield go; Savings message pushed; J B Were cuts fees; Equitable's new fund; Spiller wins

Sunday, March 15th 1998, 12:00AM

Brackenfield Estate successful
The Farmers Mutual Group promoted vineyard investment Brackenfield Estate is going ahead after it closed almost fully subscribed.
Group product manager Grant Uridge says about 28 of the 265 units were unsold when the offer closed on February 28.
Farmers' Mutual Insurance Association has bought those units and the partnership is proceeding.
It will hold an annual meeting on site in Marlborough on May 2.

Savings message pushed
New Zealanders are in for another reminder about making private provision for their retirement in a two week television education campaign beginning on Sunday.
The campaign being run by the Office of the Retirement Commissioner is another wake up call to New Zealanders.
A follow-on campaign in late April will show people how to make the most of their July tax cuts to begin or supplement their retirement income plans. Mid-year the office will be providing people with a guide to help them get started on financial planning for retirement, or check they are on the right track.
Retirement Commissioner Colin Blair says New Zealanders are rightly seeking more stability and certainty with regard to long-term retirement income policies.
"However, irrespective of what may emerge at the political level, there is one thing we can be certain of. If you want more than a basic income in retirement the onus is on you to take appropriate action."
"Public awareness of the benefits of private retirement income provision is high. However we will be reinforcing the message that if people want more than a basic level of retirement income, they should start taking action now."

JB Were cuts fees on trust
JB Were has decided to waive its normal up-front charges on the J B Were Resources Trust until the current prospectus expires in October.
The management expense ration has also been reduced from 1.5 per cent to 0.5 per cent.
While the trust under-performed its industrial counterparts by 42 per cent in 1997, J B Were are tagging the sector as "an attractive buying opportunity for the long-term investor."
"While the timing of any upturn is difficult to determine, this recent weakness has seen some exceptional value emerge," director Andrew Macmillan says.

Another first for Equitable
Equitable will be launching the first "First Mortgage" backed debenture offer in New Zealand early in the second quarter.
The tax effectiveness of this debenture allows for the deduction of resident withholding tax or no tax where an exemption certificate is provided.
Also Equitable will now offer a monthly income distribution on its products as well as the quarterly and compounding options.

Spiller wins scholarship
Money Matters director Rodger Spiller has won the small business manager section of the New Zealand Institute of Management National Scholarship Awards.
The prize for winning is $1000 cash, a $200 book voucher and $5000 programme/seminar voucher.

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