The first award, for Product launch goes to Tower Retirement Investment. While all the figures show that insurance bonds have come to the end of their life cycle, TRI launches three new products. The lovely irony is that the new funds were launched within the company to the theme music of the Titanic!
The Press conference of the year award is clearly won by the Investment Savings and Insurance Association. During the release of its showpiece report on Superannuation: A Wake Up Call, the question of investing in property quickly rises. The assembled hacks ignore the report and hone in on property investment, much to the fury of former chief executive Roger Gill.
To make matters worse for Roger one of the report's authors, Jonathan Eriksen, captures headlines with this great "there's blood on the floor" quote about the Auckland housing market. Then fellow author Gareth Morgan reveals that investing in residential property makes so much sense that's what he does.
The biggest Piranha of the year award (or should it be biggest chequebook?) is clearly won by Royal & SunAlliance. No sooner had it digested Norwich Union, than it bites into Guardian Assurance, and says it's still hungry.
The Third time lucky award goes to Sovereign for finally getting its float in the air. Pity it didn't stay airborne long before ASB Bank took it over.
Soap Opera #1. The IAFP/IIAA merger with all its sub-plots.
Soap Opera #2 Tolis. While one senior executive is running around Parliament lobbying MPs to vote for the Tolis bill, another is running round saying the opposite (and won).
Mr Consistency: The New Zealand Rural Property Trust with its freeze on redemptions. What will they do next year if they win approval to close it for five years?
This year an award for Deja Vu is shared by two former Southpac people - Rob Walker and Paul Lyons. No sooner does the former accept a position on Countrywide's investment advisory team and the latter joins Countrywide to run its funds management operation than National Bank (former owner of Southpac) buys Countrywide.
And that's it for 1998. Good Returns would like to take this opportunity to wish all its loyal readers, and supporters a Merry Christmas and a prosperous New Year. May you have many Good Returns in 1999.
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