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News Round Up

Regulation of advisers, the case for SRI funds, US funds hit market.

Monday, May 7th 2001, 7:07AM

Regulation of financial advisers is back on the agenda again. Financial Planners and Insurance Advisers Association president Paul O'Brien says senior Government MP Steve Maharey has offered to support legislation for the regulation of advisers.

Government whip, Rick Barker, also offered to sponsor legislation last year. However under this arrangement the association would have had to pay the considerable cost of drafting the legislation.

Maharey has indicated that he will provide the written legislation.

For more on this see the interview with Paul O'Brien in the Features section.

Testing the water


Polls have been introduced to Good Returns to get readers' feelings on key subjects. Ethical or socially responsible funds have been ignored in the past as investors and adviser felt they had to sacrifice returns in these types of funds. However returns in ethical funds have been impressive over recent years.

The question we ask is are you or would you use an ethical fund, or are they a waste of time. To cast your vote and to see what others think click here.

US funds hit the market
Challenger International will make the funds of five US funds management giants available in Australia through a master trust which was launched last week.

The Challenger Global Choice investment vehicle will provide access to 20 funds from the likes of Janus Capital, Oppenheimer Funds, American Century, GMO and J&W Seligman.

Challenger's head of funds management Martin Ashe says Global Choice is the first true mirror fund in Australia because it replicates exactly the mutual funds available to US investors through a structure with a number of different classes of units.

Head of funds management Martin Ashe says he was looking for managers that wanted to distribute in the Australian market but did not want to go to the expense of setting up an office and obtaining a licence. At the same time, he needed managers that would fully commit support to the Australian market, "not come out for the launch and never be seen again".

The funds are mostly global in their spread but there are also some new funds for the Australian market such as a US small cap fund, US real estate fund and an emerging markets fund.

The 20 funds together have almost $114 billion under management, more than the total retail funds management market in Australia.

Register online
FPIA Conference detailsYou can register for this year's Financial Planners and Insurance Advisers Conference online at Good Returns.
For full details of the conference, plus an online registration form CLICK HERE.
This page includes programme details - speakers and workshops, conference information and an accomodation guide.

« Investment risks of foot and mouthSovereign takes regulation bull by the horns »

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.79 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.79 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
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Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 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 7.84 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 - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 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 6.69 6.45 6.19
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 6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
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 7.84 7.45 7.25
SBS Bank Special - 7.24 6.85 6.65
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.29 7.32 6.65

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