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FPIA seeks director; Very clever, Mr Bond; NZ Funds NZ shares; sharebrokers now advisers.

Saturday, December 6th 2003, 9:45AM
The Financial Planners and Insurance Advisers Association has started advertising for an independent director to join its board.

Applicants need to show "a keen interest in and understanding of the financial advisory market and a desire to grow and develop it."

Applications close on December 31.

Very clever, Mr Bond
CDO investments continue to catch media attention. The most recent round of coverage includes NBR's Shoeshine column. YOu can read the story HERE

Select-an-income
NZ Funds has launched its Dividend Yield Fund which invests in New Zealand shares and is designed to provide investors with a stable income stream from dividends and the opportunity to grow their investment through share price appreciation over the medium to long term.

The fund holds 15 or more New Zealand and Australian shares picked on their sustainable dividend yield and it can invest up to 30% in capital notes or similar instruments.

Key features of the fund are that it is an Australian Unit Trust, and investors can select their level of income.

Sharebrokers are now advisers
One of the changes announced by the NZX last week is the idea that NZX Brokers are to be renamed NZX Advisors.

The NZX is proposing this changes as brokers are expanding their role and are becoming "much less focused on driving commissions and more focused on their overall client relationships and providing advice," the exchange says.

"NZX recognises the invaluable role brokers play in giving New Zealand investors investment advice, as opposed to simply brokering trades."

It is also proposing to introduce direct market access to the market.

"Most exchanges around the world utilise straight through processing to increase efficiency and liquidity in their markets. DMA will allow independent software vendors access to the NZX Faster trading system, which they can then offer to their clients. This opens access to additional participants in the market and is expected to help increase both efficiency and liquidity.

Direct access will not only allow additional third party access in New Zealand, but will also allow brokers in other markets to trade directly into this market.

« Money skills for kidsSovereign takes regulation bull by the horns »

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build ▼4.94 - - -
AIA - Go Home Loans ▼7.49 ▼5.79 ▼5.49 ▼5.59
ANZ ▼7.39 ▼6.39 ▼6.19 ▼6.19
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▼5.79 ▼5.59 ▼5.59
ASB Bank ▼7.39 ▼5.79 ▼5.49 ▼5.59
ASB Better Homes Top Up - - - 1.00
Avanti Finance ▼7.90 - - -
Basecorp Finance 9.60 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One ▼7.54 - - -
BNZ - Rapid Repay ▼7.54 - - -
BNZ - Std ▼7.44 ▼5.79 ▼5.59 5.69
BNZ - TotalMoney ▼7.54 - - -
CFML 321 Loans 6.20 - - -
CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼5.69 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ ▼6.95 ▼5.79 ▼5.59 5.69
Co-operative Bank - Standard ▼6.95 ▼6.29 ▼6.09 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - ▼5.99 ▼5.89 -
First Credit Union Standard ▼7.99 ▼6.69 ▼6.39 -
Heartland Bank - Online ▼6.99 5.65 5.55 5.55
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.60 ▼6.65 6.40 -
ICBC 7.49 ▼5.79 ▼5.59 5.59
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank ▼7.25 6.89 6.59 6.49
Kiwibank - Offset ▼7.25 - - -
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Nelson Building Society ▼7.94 5.95 6.09 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank ▼7.49 6.95 6.29 6.29
SBS Bank Special - 6.15 5.69 5.69
SBS Construction lending for FHB - - - -
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SBS FirstHome Combo ▼4.94 5.15 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.75 - - -
TSB Bank ▼8.19 6.49 6.49 6.49
TSB Special ▼7.39 5.69 5.69 5.69
Unity 7.64 5.99 5.69 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society 8.10 6.05 5.79 -
Westpac ▼7.39 ▼6.39 ▼6.09 ▼6.19
Westpac Choices Everyday ▼7.49 - - -
Westpac Offset ▼7.39 - - -
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Westpac Special - ▼5.79 ▼5.49 ▼5.59
Median 7.49 5.99 5.79 5.69

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