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New on the web
Three new websites worth checking out are Trident Research, Tower Retirement Investments and Investment Savings and Insurance Association
Trident's site gives a run down on the new research package it has in the market. This package is a tool for presenting information on performance, asset allocation and portfolio diversification to clients.
The ISI has launched a site which includes reasons to use managed funds, and a full copy of its Wake Up Call report on superannuation.
The third new site is TRI's www.savings.co.nz which is based around its three new insurance bonds.
AMP and AMEX launch a credit card
AMP Ltd's banking unit is to launch a co-branded credit card with American Express Corp.
They say the card is not an exclusive arrangement and either party can still link up with other credit card and bank groups.
American Express was AMP's first choice because its up-market branding fitted well with AMP's potential customer base and American Express had been "hungrier" to deal with AMP, AMP Banking managing director Stephen Balme says.
The card will be launched to existing AMP shareholders in Australia from June 29. In New Zealand it will also be offered to Ergo customers.
A special introductory offer of low interest rates will be used.
The card has a loyalty programme called AMP Rewards (which will be free in the first year) which includes discounts on financial plans written by AMP advisers and discounts on AMP insurance and AMP mortgage fees.
The credit cards will be used to cross-sell AMP's other financial products to its banking clients.
AMP Banking is planning to offer cheque and savings accounts and automatic teller machine access in Australia and New Zealand from early 1999.
AMP Banking already has an Australian banking licence, and expects to be granted a New Zealand licence later this year.
More of the same for Auckland
The New Zealand Institute of Valuers' latest survey of the Auckland commercial property market paints a gloomy picture.
Respondents to its survey have commented upon the negative sentiments that are in the market.
"The Auckland market has taken a turn for the worse since the beginning of the year, with the apartment and retail markets being the hardest hit," it says.
Overall 59 per cent of respondents expect the commercial market to stay the same over the next six months while the remainder are equally split between an improvement and a deterioration.
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