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News Round Up

Asset looks at Money Managers, New Australian fund, Home Loan Calculators, Calan's new hospital.

Sunday, May 5th 2002, 4:00PM
The second issue of Asset magazine will be out early this week. The lead story looks at New Zealand's most successful financial planner Doug Somers-Edgar.

Somers-Edgar and his firm Money Managers hit the headlines again on Friday when the Securities Commission clamped down on a contributory mortgage it was promoting.

The commission says that Money Managers breached the contributory mortgage regulations by promoting a scheme although it is not registered as a contributory mortgage broker.

The commission says Money Managers and its directors may be civilly and criminally liable under the Securities Act. (More on this story later).

Other features in this month's issue of Asset include: who might buy Royal & SunAlliance (and why), a look at Colonial First State's plans to crack the New Zealand market, a preview of how the risk-free rate of return tax system works (and what it means for portfolios), plus a new way of looking at the New Zealand Sharemarket.

Besides these stories there are regular features including Donal Curtin's monthly economic commentary, a series of practice management articles explaining how to write email newsletters, book reviews and a crossword.

If you would like to receive a free copy of Asset please click here.

To subscribe to the magazine go to the Bookstore

New small companies fund


BT Funds Management has launched a new fund which invests in Australian listed companies outside the top 100.

The BT Australian Small Companies fund has a long-term investment horizon and provides investors with an opportunity to gain exposure to the dynamic Australian small companies sector.

Home loan calculators
Looking for a home loan calculator? Click here to see a list of calculators.

Calan to build hospital in Oz
Calan Healthcare Properties Trust is to build a major private hospital in Melbourne’s eastern suburbs.

The hospital will have 186 beds and cost $56.05 million ($A46.4 million) to build.

Calan says its programme of property sales should enable the Australian project to be funded from within existing resources.

Calan is selling its Parkhaven and Northhaven geriatric hospitals in Manukau and Whangaparaoa for $8.15m.

"We have for some time been refocusing the trust’s strategy and as a result have sold several non-strategic assets. The trust has determined to exit its direct investments in aged care and to reallocate that investment into the superior growth opportunities we currently have," Calan managing director Martin Lyttelton says.

Calan says unitholders should see an immediate benefit to the shareprice as the interest costs on the land for the hospital have suppressed distributions.

« Funds flow down to a trickleSovereign takes regulation bull by the horns »

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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 7.24 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 - - -
Bluestone 9.24 - - -
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 8.30 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 7.84 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 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 7.29 7.32 6.65

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