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A Christmas present for readers, BT's major fishing expedition, Delays for Public Trust Office, BT says it's business as usual, Kiwis still not saving, FMG puts out new investment statement, National Mutual considers name chan.

Monday, December 7th 1998, 12:00AM

by Philip Macalister

The end of the year may be nigh, but that hasn't stopped the development of new features and functions on Good Returns.
Within the next couple of days Good Returns will be launching its bookstore which specialises in investment and personal finance titles. Plus people doing the Massey University Diploma of Business Studies will be able to buy their text books through the site.
The second new feature is a page dedicated to Endowment Warrant. The page will feature prices for all the endowment warrants offered by Challenger Financial Services, plus it will have information on endowment warrants, how to use them and new products.


Major fishing expedition
BT Funds Management is after the big fish in the New Zealand market. It has decided to actively promote its Australian Private Investment Funds series to New Zealanders with more than $500,000 to invest.
The series consists of three share funds (international fund, Australian shares and emerging markets) plus the Asset Selection fund that is described as a more aggressive balanced fund.
It is described as a premium service and offers clients a high level of reporting.
To date the series has, in total, about 900 investors, each with a minimum of A$700,000. New Zealand's contribution to this total is about $40 million and 50-60 investors. About 60 per cent of the New Zealand investors have come through the independent financial advisory network.

Public Trust Office delay
A High Court decision on who owns the assets of the Public Trust is being appealed, thus slowing any moves by the Government to sell the business.
The High Court earlier this year ruled that the Government was the owner of the assets, (primarily $85 million of reserves) however counsel representing past and present beneficiaries are appealing that judgement.
The appeal is scheduled to be heard by the full bench of the Appeal Court on February 18.
Meanwhile, a Macquarie Bank review of the PTO is understood to have suggested to Government that it give the office a corporate structure with a strong profit motive.

Business as usual for BT
It's business as usual for BT Funds Management in New Zealand following the announcement Deutsche Bank it so buy its ultimate parent company.
BT Funds Management executive vice-president Myles Baron-Hay says the operations in New Zealand are "very complimentary" and there is "no significant overlap".
BT has about 220 staff in the funds management and banking arm areas, while Deutsche has 14 staff working in investment banking and the fixed interest market.
Baron-Hay says the takeover will underpin BT's future growth and development in the New Zealand market.
It gives the business greater scale and financial strength to help it develop.
"We're quite excited by (the takeover)," he says.

Kiwis still not saving
A widely predicted increase in household savings this year is not happening, according to EquitiLink Investment Management.
The latest EquitiLink Savings Indicator shows that, rather than increasing as had been expected, savings actually declined by one percent in the September quarter.
About $800 million was wiped off the household savings pool, reducing the index to 120.28, the same level it was a year ago.
New Zealanders’ appetite for borrowing continues, although it is still weakening, general manager Richard Flinn says.
Household debt increased by just 1.12 percent, bringing the EquitiLink Household debt indicator to 138.65 over the quarter, the lowest quarterly increase for three years.
Growth in borrowing has been slowing for each of the last three quarters. In the March quarter, household debt grew by 1.7 percent compared with 1.5 percent for the June quarter.

FMG's new fund
Farmers Mutual Group has released an investment statement for its new high-yielding debenture stock.
The issue is being made through subsidiary company Farmers' Mutual Debenture Investments Ltd (FMDI). It aims to provide investors with very attractive interest rates.
FMDI's first investment is in meat processor Affco. See earlier story.
For an investment statement click here or phone 0800366466.

Name change in the wind?
National Mutual is considering changing its name to that of its parent company, AXA.
French-based AXA is the biggest fund manager in the world.
« Tower rejects GPG proposalGet your tax questions answered online »

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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

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