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What's in November's issue of Asset, Book now for Financial Planner of the Year Awards dinner, Adam arrives, More people complain about bank advice.

Sunday, November 10th 2002, 9:45PM

This month's Asset magazine, which is out now, focuses on the major issue of how tax losses are being treated in managed funds. There is a wide variation of practices amongst managers and some funds may be worth less than their unit prices indicate, while others may be worth more.

Also this month economist Donal Curtin reports on what he found out on a recent trip to the United States, and we talk to the chairman of financial planning group Goldridge about how the business has been set up.

On the insurance side there is a look at tax issues surrounding income insurance, plus there is a feature on software which evaluates customers' insurance needs.

In an additional extra this month we have a special feature on the FundSource Fund Manager of the Year Awards. The four page feature includes interviews with some of the winning managers about how they are managing money in these difficult times, and some of the lessons learnt.

ORDER your copy of Asset HERE

Financial Planner of the Year Awards
The finalists in this year's Financial Planner of the Year Awards will be announced on Monday and the Awards ceremony will be held in Auckland on Wednesday night. To book your place at the gala Awards evening either email awards@goodreturns.co.nz or visit our website
here.

The Awards, which are in their third year, are designed to promote excellence and professionalism in financial planning. This year they are supported by AMP, AXA New Zealand, ING, Perpetual Investments and Sovereign.

More people complain about bank advice


It seems more people are complaining to the Banking Ombudsman about the quality of financial advice they are receiving from banks. Banking Ombudsman Liz Brown says there has been a 12% jump in the number of disputes between banks and customers over the past year.

She says tellers at several banks are required to suggest that customers with substantial sums in a savings account or term deposit see an in-house investment adviser and that some customers feel they get talked into high risk investments that they may be unsuitable. She says bank staff usually get bonuses for persuading people to take out investments but do not have to tell customers about this.

Overall, Brown, received 409 dispute cases in the year to June 2002, compared to 364 cases in the previous year.

For more details about what bank advisers are up to read last month's issue of Asset magazine. To get a copy either email asset@tarawera.co.nz or call 0800-345675.

Adam arrives
Dresdner RCM Global Investors, which offers funds in New Zealand, has become Allianz Dresdner Asset Management, or adam for short.

The name change has come about because Allianz has taken over the Dresdner Bank.

Besides just a name change the new group is now able to offer a broader offering of investment styles and asset classes. These include the Dresdner RCM global equity product (with a growth style) as well as funds from Dresdner Asset Management (quant including index), Oppenheimer Capital (value), Nicholas Applegate (thematic), Allianz Hedge Fund Partners and Pimco (fixed interest).

"We aim to distinguish ourselves through offering a comprehensive and diversified range of investment processes which have long and distinguished investment management track records, together with other more innovative and less traditional products," chief executive Peter Rayner says.

« Self regulation of advisers not out yetSovereign takes regulation bull by the horns »

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