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Sunday, July 25th 2004, 9:27PM
FundSource figures show that the past quarter was “very disappointing” for the local managed funds industry with negative flows across the board.

The only positive flows were into mortgage and fixed interest funds.

Negative funds flow is somewhat counter intuitive to recent reports from FundSource indicating sustained positive performances in managed funds, and also an increasingly positive outlook for growth orientated assets.

“It appears that investors are acting out the ‘once bitten, twice shy’ axiom, following the bear market of 2000-2003 leaving holes in investor’s portfolios. However this implies the motivations behind investment decisions being emotive rather than objective. It also appears to rely on a backward versus forward looking investment perspective“ FundSource business manager Tim Anderson says.

Interest rate rise tipped


Once again, economists are unanimous in their expectation that the Reserve Bank will hike interest rates for a fourth time this year when it reviews the Official Cash Rate (OCR) on Thursday.

The OCR, which directly influences banks’ floating mortgage rates, is currently at 5.75% and the RBNZ is expected to raise it to 6%. [MORE]

TEP fund launched
Dorchester-owned Save and Invest and Life Insurance Policy Exchange have established a fund of traded insurance policies.

The SuperBond 2000 Traded Policy Fund aims to achieve good consistent returns with minimal chance of capital loss over rolling five year periods.

It is being pitched at the lower risk end of the market, and with alternative capital stable superannuation and managed funds producing low returns over the past 7 years, the promoters believe the fund is well placed to outperform its competitors in the future.

ING confirms Urbus deal
ING has confirmed that the contract it entered into to acquire the management rights for publicly listed property investment company Urbus Properties has become unconditional.

The contract is for the purchase of both the corporate management and property management rights for Urbus Properties.

The acquisition of the management rights for Ubus will further consolidate ING’s core strength as a leading and recognised manager of quality real estate/property investment, the company says.

Securities Commissions work together
The Australian Securities and Investments Commission and the New Zealand Securities Commission are to explore opportunities for greater cooperative regulation at a time of increasing cross-border investment.

The two commissions have agreed to strengthen their existing cooperation and to share information about cross border scams.

Joint enforcement strategies and investor education programs to target scams are also being considered.

Public Trust says it's time to review strategies
Rising interest rates and rapid growth in the world’s economies will change the investment environment over the coming quarters, according to Public Trust Investment Funds Manager Colin Thomson.

"Instead of having to deal with shrinking growth and the danger of falling prices, investors will need to consider the implications of rapid growth and the risk of a sharp rise in inflation," Thomson says.

"If central banks have to raise interest rates significantly to contain inflation, it could affect investors’ returns, as higher interest rates can cause share and bond values to fall."

Thomson recommends that in light of these changing circumstances investors review their investment strategy.

« Cullen expands on adviser regulationSovereign takes regulation bull by the horns »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 3.95 4.15 4.49
ANZ Special - 3.45 3.65 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
Lender Flt 1yr 2yr 3yr
China Construction Bank Special - 3.19 3.19 3.19
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.65 4.80 -
HSBC Premier 5.24 3.54 3.20 3.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank 5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Lender Flt 1yr 2yr 3yr
Pepper Money Near Prime 5.64 - 5.44 5.44
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
Lender Flt 1yr 2yr 3yr
TSB Bank 6.09 4.19 4.35 4.69
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society 5.50 3.95 4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.96 4.09 4.39

Last updated: 21 February 2020 4:32pm

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