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National Mutual wields the axe, Of bugs and birds, Are banks really bastards, Fund Manager of the Year Awards.

Monday, July 26th 1999, 12:00AM

by Philip Macalister

National Mutual (to be rechristened AXA on August 8) is under-going a major product revamp. For full details of the revamp and why it is happening read Wielding the Axe in the features section.

For every two or three funds which disappear from the market it seems several others crop up. While a number of fund managers, notably National Mutual, Colonial and Royal & SunAlliance, are undergoing major rationalisation of their product ranges several are adding funds.

ANZ Funds Management launched a cash management trust called Flexi-Cash last Friday. This is a group investment fund aimed at rounding out the group's suite of funds. Likewise, Armstrong Jones plans to soon launch a cash management trust and a capital guaranteed income fund.

On the other side of the ledger WestpacTrust has decided to wind up two single sector unit trusts. The trusts being wound up are the Selected Australian Shares and the Government Securities trusts.

Of bugs and birds


Sally Ann the KeaFirst it was Ken the cockroach trying to get your attention, now it's Sally Ann the Kea. The Y2K Readiness Commission launched, last week, a public information campaign to raise the awareness of the Y2K problem using a cockroach as a symbol. Later in the week the Super 2000 Taskforce launched its public awareness campaign and its Kea, Super Ann.

Taskforce chair Angela Foulkes describes superannuation as one of the most daunting challenges New Zealand faces. The taskforce aims to discuss the issue with New Zealanders then deliver a proposal to government.

The taskforce has released a booklet Can New Zealand Afford to Retire (order your free copy here) which provides details of the country's changing population and attitudes to retirement issues.

Further details of the taskforce's findings will be available on Good Returns later in the week. Also Good Returns is planning to run extensive coverage of the superannuation debate in the lead up to this year's general election. Watch out more details of our coverage, and think about the issue. We will be seeking your input!

Fund Manager of the Year Awards
Have you checked out full details of the IPAC Fund Manager of the Year Awards yet? For a full list of winners, plus details of why they won click here.

Coverage of these awards is brought to you by Deloitte and IPAC.

Are banks really bastards?
Order your copy from the bookstoreThe latest book out from top-selling author Martin Hawes is 5 Ways to Save More Money on Your Mortgage. Hawes reckons people are paying far too much for their mortgage. With changes in the mortgage market the lender is now in the driving seat, he says.

The book offers sound financial advice on how to better handle mortgages, and reduce their costs.

"This book is to mortgages what the Edmonds Cookbook is to cooking," mortgage broker Mike Pero says. Order your copy of this book by clicking here.

« Cullen calls for super tax reviewGet your tax questions answered online »

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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 - - -
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

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