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: Thursday, July 18th, 1:27PM

News

rss
Latest Headlines

Weekly briefs

ANZ Funds Management cracks magic mark, Making contact with investors, New SOE insurer, Trans Tasman rolls over.

Sunday, March 21st 1999, 12:00AM

by Philip Macalister

ANZ Funds Management's Ascent Investment Programme has in four months raised more than $100 million, general manager Anthony Quirk says.
He says the programme, which offers investors one point to access 11 top international fund managers, has substantially exceeded its targets.
Quirk says the changing investment climate has been a factor in the growth.
"When term deposits were sitting at around 8 to 9 per cent, with inflation sitting below 3 per cent many investors were happy to leave their nest eggs on deposit. The drop in interest rates has made people look again. Access to better rates of return by accepting moderate levels of risk through international markets has appealed to investors looking for alternative sources of growth."

Quirk says Ascent appeals to more substantial investors. The average investment size into Ascent is more than double ANZFM's other investment products.
Ascent is a strategic alliance between ANZ and Frank Russell Company.

Making contact with investors
More than 250,000 New Zealanders priority registered their interest in the Contact Energy share float, according to final figures released.
Priority Registration does not oblige investors to buy shares. However, those who did priority register will be guaranteed a minimum entitlement of 25 per cent more shares than the minimum public allocation in the public pool if the offer is over-subscribed.
People who haven't priority registered will be able to buy shares when the proposed offer opens.
The offer is expected to be opened around mid-April, priority registrants will be sent a copy of the Investment Statement and a personalised application form.
The Crown intends to sell 60 per cent of its shares in Contact Energy by way of public float. It is currently seeking a cornerstone shareholder to take up the remaining 40 per cent.

New SOE insurer
@Work Insurance is the name of the state-owned insurer that will compete in the workplace accident insurance market.
"@Work Insurance is a specialist provider of workplace accident insurance for employers and the self-employed. We will not operate outside this area in which we have specialist skills," chairman Michael Cashin says.
"Our research indicates employers want flexible products tailored to their circumstances and that helps them with minimising workplace accidents and thus premiums. Employers are not necessarily driven solely by price."
Peter Fitzsimmons is a director of the company.

Trans-Tasman rolls over
Trans Tasman Properties is to roll over its convertible capital noteholders issue for another five years, at a higher interest rate.
The company had already decided it would not redeem the notes for cash and shareholders did not want new shares issued.
With the share price languishing at 37c, shareholders were worried about their holdings being diluted by a large new issue. The conversion terms require $1 worth of shares for every note, meaning that something like 245 million new shares would be issued, based on the latest share price.
Shares would not suit the bulk of note holders wanted income. The new interest rate on the notes is 9.5 per cent.
« Unitholders oppose mergerGet 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 ▼7.45 ▼7.09 ▼6.95
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▼6.85 ▼6.49 ▼6.35
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 - - -
SBS Bank 8.74 7.74 7.09 6.95
Lender Flt 1yr 2yr 3yr
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
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 -
Lender Flt 1yr 2yr 3yr
Westpac 8.64 ▼7.49 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - ▼6.89 6.75 6.39
Median 8.64 7.14 6.82 6.65

Last updated: 18 July 2024 10:19am

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