Weekly briefs

Portfolio talks starts, Tax credit scheme on again, Farewell Frank, Guardian Assurance's new Wise bond rates.mo

Monday, September 21st 1998, 12:00AM

Portfolio Talk starts
A new monthly feature starting on Good Returns today will help readers keep in touch with fund managers' latest thoughts on the markets and their investment philosophies.
Portfolio Talk is the first of a number of new, regular features that are about be added to Good Returns.
In the first Portfolio Talk feature Carmel Fisher talks about her recently launched New Zealand equity fund.
To find out about her investment philosophy, her market picks and her views on where the market is going visit the features section or click here.

Tax credits on again
The vagaries of the current parliament continue. While it appeared the proposed tax credit regime was dead as ACT, Labour and the Alliance refused to support it, it now appears opposition party New Zealand First will support the bill.
Finance Minister Bill Birch said on Friday that he had assurances from NZ First leader Winston Peters that his party would support the legislation.
"The assurances from Mr Peters give the Government a reasonable expectation now that it is worth taking to the house," a spokesman for Birch said.
To pass this bill, which will be back-dated, the Government now needs the support of nine of the 11 independent MPs.

Farewell Frank
The death of Sir Francis Renouf last week marked the end of an era for the managed funds industry.
Sir Francis will be remembered for many things including Renouf Corporation and his spectacular marriages. One thing that is not so well-known is that Sir Francis introduced unit trusts to the New Zealand market in 1960.
Although he brought unit trusts to this country in 1960 it was not until the mid-to late 1980s that they became a widely used investment option.
Ironically the legislation which was introduced to manage unit trusts in 1960 is still in this country's statutes book.

New Wise bond rates
Guardian Assurance has launched issue 14 of its popular Wise Bonds with revised rates of returns.
The bonds are have one, two and three year terms, and rates range from 4.75 per cent to 5.3 per cent depending on maturity date and size.

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