News Round Up

BT Funds Management has once again done well in a survey of the best places to work in New Zealand.

Last year it was declared the top workplace, by a survey done by Unlimited magazine, this year it came in at number two.

"Pretty impressive for a company that has undergone a complete ownership change," Unlimited says, referring to the move by Westpac to buy the business last year.

"With a looming shift of this magnitude, the risk of employee turnover is usually high. But at BT, staffers weren't spooked. The company lost no staff with the change and chief executive Craig Stobo attributes this to fast, open communication that addressed any questions and concerns up front.

Australia beats us again

Almost A$14 billion was wiped off Australia's official retirement savings in the September quarter (yes, quarter, not year) last year the Australian Prudential Regulation Authority.

It says poor investment returns forced superannuation assets down by 2.7% to A$505.7 billion.

The decrease came on top of a 2.8% drop in the three months to June.

Superannuation assets have dropped by more than A$28 billion since March, when the all-time high of A$534 billion was recorded.