The topic of this event is “Financial Planning Symposium - at the leading edge” and it is targeted at experienced financial planners and financial advisers from all sectors, including Certified Financial Planners and Chartered Life Underwriters.
Presenters include FPIA board member Simon Hassan, Jane Diplock and Annabel Cotton from the Securities Commission, Guardian Trust’s Chris Kelly, actuary Jonathan Eriksen and Roger Shackelford from Horwath Offen.
More details can be found online at www.adviserlink.co.nz or by emailing training@adviserlink.co.nz
Hilton offer extended
The extension has been made as a number of advisers required more time to present the offer to their clients.
BT back to court
BT and Westpac have now refiled with the High Court, the case relating to technical breaches of the filing requirements of the Securities Act(Australian Registered Managed Investment Schemes).
The refiling means that the case will be heard and determined under the amendment to the Securities Act that came about earlier in the year.
Spicers takes over indicators Spicers Wealth Management is underwriting the continued publication of the leading indicator which tracks the rise and fall of the wealth of New Zealand households.
The indicators, compiled by the NZ Institute of Economic Research and Morningstar, were previously sponsored by Westpac.
The next Household Savings Indicators will next be published in December and will contain two major revisions to provide a more accurate reflection of the trends in the wealth of households.
Student loans will be counted as part of debt while on the positive side, money invested in the State Sector Retirement Savings Scheme will be included as part of savings.
MOZY takes off
The NZX Funds Management MOZY index fund debuts on the market this week after raising $33.2 million.
The MOZY is an exchange traded fund (ETF) that tracks the S&P/ASX MidCap 50 Index (Index). In the 12 months to 30 June 2004, this Index gained 25.6%.
The MOZY is the first of the new Smartshares range of ETFs to be launched by NZXFM and gives New Zealand investors the chance to diversify their portfolios into 50 different medium-sized Australian companies with one trade.
New buyer for Finance Centre
St Laurence has pulled out of its plans to buy the Finance Centre in downtown Auckland, however Capital Properties has now stepped up to the plate.
It has entered into a conditional contract with Trans Tasman Properties to acquire the centre excluding the Simpson Grierson Building.
The purchase price of $78 million provides a forecast initial yield of 10.3%.
NZ listed investment trusts
Salvus Strategic Investments says the unaudited net asset value per ordinary share of the company as at September 24 was $0.9743. Meanwhile fellow investment trust Kingfisher says its nta as at September 22 was $1.0972.
Both shares have taken a dip recently and their closing prices yesterday were 81c and 93c respectively.
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