News Round Up

Stobo report delayed - slightly, St Laurence gets a rating, ASB's new savings account, Aussies keep fund to themsleves, New Morningstar reports and the latest on the FPIA Conference.

Monday, November 1st 2004, 1:56AM

The release of the Craig Stobo report into taxation of collective investment vehicles now looks like being put back until the middle of the month.

The report was due to go to Finance Minister Michael Cullen by the end of October but it will now be delivered this week, a spokeswoman for Cullen says.

Release is now planned for mid-November.

A rating and a new account
Two interesting stories in the Deposit Rates section of the site today. Firstly St Laurence Mortgages has gained a B3 credit rating and been recognised as being investment grade by Rapid Ratings.

Secondly ASB Bank has launched a savings account which has a high interest rate and no fees.

To read the stories go to www.depositrates.co.nz

Aussies keeping this fund for themselves
Last week we mentioned Perpetual’s new Protected Australian Share Fund. Interesting fund but the bad news is that it is not available in New Zealand.

“We are considering launching this product in New Zealand, but as yet this product is only available in Australia,” Perpetual general manager - adviser distribution Damian Crowley says.

New Morningstar reports
Morningstar has begun releasing its updated reports on Australian equities managers. The first ones completed are on Perpetual and Lazard's investment strategies.

Morningstar says the revamped, redesigned research reports are “even more helpful to (adviser) fund manager evaluation and selection.”

They provide; a five-point Morningstar recommendation which gives readers a clear, actionable signal of the company’s views, commentaries focusing on key issues and risks, extensive holdings, valuation multiples, and performance data to provide meaningful insights into current and future performance drivers and they have been redesigned to be more user-friendly.

Rural Property Trust unitholders says keep it going
A proposal to wind up the New Zealand Rural Property Trust was rejected by unit holders at the annual meeting in Wellington. Read on here

Two keynotes added to FPIA conference

« Tower's light shines in awards

Sovereign takes regulation bull by the horns »

Special Offers