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: Friday, February 23rd, 3:51PM

News

rss
Latest Headlines

WiNZ set to treble

Investors in WiNZ are about to get a fund that will better track the MSCI index, but they are going to have to pay for it.

Tuesday, August 7th 2001, 6:54AM

AMP Henderson is changing the way it invests its international index fund WiNZ so that it gets better coverage of world markets.

Currently WiNZ tracks the MSCI on what is known as a sampling basis, where it holds the top 80% by market capitalisation of the MSCI for each of the countries in the fund.

It plans to move towards a basis which is closer to full replication of the MSCI which means it will cover 95% of the MSCI.

In effect it will almost treble the number of stocks in the fund from 260 to nearly 750.

"This enhances the level of diversification provided by the AMP WiNZ Fund. It also aligns the AMP WiNZ Fund even more closely with the MSCI Index, providing a better approximation of total global sharemarkets," AMP Henderson says.

The changes coincide with major changes to the MSCI which also impact on the fund's makeup.

As announced previously improvements are being made to the MSCI. These changes are being made in two tranches in November and May 02.

Firstly the index will move to a free float basis. The calculated free float for each company is based on the number of shares available to purchase on the open market. It excludes all controlling interests of a company, and allows for foreign ownership limitations.

By contrast the current MSCI Index is based on total market capitalisation of each company, and includes all shares on issue. This change increases the index weights of companies who have most of their shares freely tradable and reduces weightings for those whose ownership is concentrated and seldom trade.

Secondly there will be increased coverage of each country. At present the MSCI Index aims to include the top 60% of each national stock market by capitalisation. MSCI propose to increase this to 85% of free float weighted capitalisation. This will significantly increase the number of stocks included in the MSCI Index, as more medium and smaller sized companies will be included.

AMP Henderson is currently in the process of getting unitholder approval for its planned changes.

Unitholders are being asked to approve the one-off transaction costs of moving to the revised AMP World Index, and that future brokerage and custody costs be deducted from the fund.

These brokerage costs will be slightly higher in future as a result of the increased number of companies in the AMP World Index.

The WiNZ fund was one of about a dozen index funds that had their binding rulings renewed for another three years on June 30. The binding ruling for its superannuation version of WiNZ expires in December. AMP Henderson is confident that this will be renewed also.

It says Super WiNZ will also be moved to a replication basis.

« News Round UpSovereign takes regulation bull by the horns »

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 7.45 7.05 6.85
ANZ 8.64 7.99 7.49 7.35
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.39 6.89 6.75
ASB Bank 8.64 7.39 6.89 6.65
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 - ▼7.29 ▼6.85 ▼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 7.95 7.65 7.45
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 - 7.15 - -
Co-operative Bank - Owner Occ 8.40 7.35 6.89 6.75
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.85 7.39 7.25
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 6.85 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.59 7.29
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.35 7.89 7.65
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.35 6.89 6.75
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.90 7.39 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.30 7.89 7.69
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.30 8.89 8.69
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.95 7.45 7.29
SBS Bank Special - 7.45 6.95 6.79
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 7.05 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.19 7.55 7.55
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.39 6.75 6.75
Unity 8.64 6.99 6.85 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 7.15 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 7.45 7.37 6.77

Last updated: 23 February 2024 11:59am

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