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.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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