tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Wednesday, June 19th, 6:28PM

News

rss
Latest Headlines

Weekly briefs

Former fund manager charged, two more Brits join the board, E*Trade arrives, Shareholders offered an out, New OM-IP series and MORE.

Monday, October 26th 1998, 12:00AM

by Philip Macalister

Peter Young, a former fund manager at Morgan Grenfell Asset Management, a subsidiary of Deutsche Bank, has been charged with conspiracy to defraud by Britain's Serious Fraud Office.
The charge comes two years after the company dismissed him for his alleged involvement in a managed funds scandal which cost the bank more than $1.35 billion.
Tower's Spotlight Europe fund was caught up in the scandal. Unitholders in the fund have since been paid compensation.

Ord Minnett launches new OM-IP series
Sharebrokers Ord Minnett are, today, to launch the fourth series of its popular capital guaranteed, leveraged investment products.


The OM-IP 320 series is slightly different to the others in that it is more geared towards a bear market, rather than a bull market.
The last series of the OM-IP products closed early as it was oversubscribed. Good Returns will provide further information on this new investment later in the week.

Two more Brits join the board
Two more British-based investment trusts have been listed on the New Zealand Stock Exchange.
They are the Mercury European Privatisation Trust and the Electra Investment Trust. Mercury invests in European companies which are being privatised or appear likely to be privatised, and the Electra trust invests in private companies and unlisted investments.

E*Trade arrives
New Zealand investors can now trade shares listed on the Australian Stock Exchange over the Internet through brokerage firm E*Trade.
E*Trade is a global firm based in the United States. It has been operating in Australia since April and has built up a client base of 3000 users in that time.
The company hopes to offer electronic trading in New Zealand Stock Exchange-listed shares in the future.

Shareholders offered an out
Shareholders in listed investment company Jardine Fleming China Region have agreed to a proposal that the company conduct an equal access buyback plan.
The resolution was passed at the company's annual meeting last week.
The company expects that the buyback offer will be sent to shareholders during the week beginning November 9.
Company secretary Tony Morgan says the share buyback plan, if approved, will be subject to conditions that are set out in an explanatory memorandum that has been sent to shareholders. It will provide shareholders with the opportunity to realise their investment in the company at near to net tangible asset backing.

Adviser free service
Money Managers is adding a service to its website for investors not wanting to use an adviser.
Marketing director Alasdair Scott says netINVEST is designed for people who don't have the time to visit an adviser, but who want to start a savings plan.
Users can download the FiRST Masterfund investment statement and application form along with an authority for automatic payments and client services agreement.
Scott says a number of people want to save but don't have the time to visit advisers, also those starting early don't need an adviser.
"In the early stages of a savings programme it isn't necessary to see an adviser. In the first 12 months or so, investors can concentrate on accumulating finds. Then when they visit an adviser, they can begin to formulate a plan towards reaching their retirement goals," he says.

A renewed wake-up call
The Office of the Retirement Commissioner is mounting another publicity campaign aimed at getting New Zealanders to save.
The ads are aimed at moving people from thinking about saving for retirement to action. This year the office has distributed 130,000 copies of its Your Retirement Action Planner guide. Commissioner Colin Blair says half those who received the book had worked through it and one in four had taken action.

« Strong September funds flowGet your tax questions answered online »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.74 7.35 6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 ▼7.09 ▲6.95
SBS Bank Special - 7.14 ▼6.49 ▲6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.84 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.24 6.75 6.39
Median 8.64 7.19 7.17 6.65

Last updated: 19 June 2024 3:59pm

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com