News Round Up

Retire at Work, New tech fund, Register online for the FPIA conference, Queen Street bonding, Online access to cash account, Takeovers Code coming soon.

Sunday, April 2nd 2000, 12:00AM

The Office of the Retirement Commissioner has launched a comprehensive programme aimed at encouraging employers to help staff deal with financial planning for retirement.

The Retire at Work programme uses a specially developed, easy-to-use, video based seminar to deliver financial planning information in the workplace.

Retirement Commissioner Colin Blair says the programme is an extension of the office's Take Action and How Much? campaigns.

He says employers are ideally placed to deliver the savings message as employees generally look up to them, and they see them as being successful role models.

Employers are given the choice of deciding how far they want to go with helping their staff.

They can just deliver the seminar, or they can provide further information from the office's four sponsors, or from another financial services provider.

Bank of New Zealand, Tower, the New Zealand Stock Exchange and Royal & SunAlliance support the office.

For more information visit www.retireatwork.org.nz

Latest tech fund
Money Managers is about to add a technology fund to its First Master Fund offering.

US-based Wellington Management is running the fund. Currently Money Managers national investment director Michael Coote is doing a series of seminars around the country discussing this fund, and how an investor can manage risk in the volatile technology sector.

FPIA Conference
Good Returns readers can now register and pay for the Financial Planners and Investment Advisers conference online.

Paying online through Good Returns is quite safe as we use a secure server for transactions. When your personal information is transmitted online it is done in a format that nobody can access except us

Queen Street Bonding
St Laurence Group has issued an investment statement for its latest bond issue, Queen Street Securities Limited.

Queen Street Securities aims to raise $3 million to buy unsold units in its earlier syndication of a retail property at 186-202 Queen Street.

The bonds have a maturity of three years and will pay 10.5 per cent annually.

Meanwhile, St Laurence repaid its Prince's Wharf Bonds last week.

Online access to cash account
Macquarie New Zealand is now offering clients online access to its Gilt Edge Access cash management fund.

Macquarie's new website, www.macquarie.com.au/transact, will enable clients to access their account balances, obtaining transaction history details, order statements, and make transfers to nominated bank accounts.

Macquarie's New Zealand manager, James Turnbull, says this service is a first for New Zealand cash funds.

Takeovers Code promised
Commerce minister Paul Swain says he wants to implement a takeovers code as soon as possible.

The code is likely to be similar to what was proposed by the Takeovers Panel in 1995, with some technical amendments.

Swain says the changes will reflect what what has happenein the market over the last five years, plus overseas experience with takeovers regulation.

While there will be consultation with market participants it would only be on technical points of the code, not on whether or not there should be one.

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