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Investment News

Weekly Wrap: Everyone needs growth assets

Two bits of news this week illustrate a point which many people have forgotten. Growth assets are good and everyone needs some (a bit like your greens).

Friday, September 23rd 2005, 9:44PM
The two stories are FundSource's August managed fund review which shows there have been some fantastic returns from equities both in New Zealand and offshore, and the Government Superannuation Fund result.
Double-digit returns from well-structured portfolios are possible. If you don't believe me see Norman Stacey's quote at the bottom of this newsletter

Active management pays: FundSource
Actively managed New Zealand share funds performed well in August, as did international funds. [more]

GSF achieves 11.83% return
The Government Superannuation Fund achieved a pre-tax return of 11.83% for the year ending 30 June 2005. [more]

Despite growth assets delivering there is still plenty of news in the fixed interest/income area.

ING launches another fixed income fund
ING is launching a new fund aimed at older investors who want a regular income. [more]

Blog

Thinking about finance companies
One of the hot topics of the moment is finance companies – and how bad they are supposed to be. But let’s get one thing straight here – not all finance companies are bad.
[more]

Although we don't know who is going to be the next government (if I was a betting man I'd say Labour and that Wellington are going to nab the Ranfurly Shield tonight) change is still the talking point.

Submissions on tax changes are due in next week. ASFONZ hate what's proposed and FPIA aren't that keen either.

FPIA concerned about red tape around tax changes
The Financial Planners and Insurance Advisers Association is concerned about the likely costs of complying with any changes to how investments are taxed. [more]

Officials are urging speed on adviser "reform" as they now call it.

Officials urge speed on adviser reform
The incoming Minister of Commerce – whoever it turns out to be – will have an early chance to set out his/her views on where regulation of financial advisers should go. [more]

In SUPERTALK there is the interesting story about the demise of the Global Retirement Trust and who is getting the $500 million it managed for people (generally civil servants).

Mercer Super Trust to get GRT funds
The $470 million in savings previously administered by the Global Retirement Trust (GRT) has been picked up by Mercer Human Resource Consulting. [more]

In PEOPLE the big announcement this week was that Jock Hobbs is standing down as chief executive of the Strategic Finance group.
Also Hanover appointed a new business development manager and over at Tower, Helen Mexted leaves the group to join St Laurence.

INSURANCE had a people flavour too. The main story here is that American International Assurance has finally announced its new chief executive, who replaces Bernie McCrea.

If you are an insurance adviser and would like to take part in a new survey please click here.

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Financial Planner of the Year Awards 2005
Entries are still open! We have extended the dates to receive entries so be sure you've downloaded the entry form and send your entry in to us. There are cash prizes up for grabs, so you can attend an overseas conference of your choice - so what are you waiting for....get writing!

Talking of Awards, the NZMBA announced its Mortgage Broker of the Year Awards last Friday night.

Top mortgage brokers named
The NZ Mortgage Brokers Association has named the winners of its broker of the year awards. [more]

Quote of the Week:
"We at Diversified love to be wrong if it is for the right reasons."
Norman Stacy apologises for providing portfolio returns of between 18 and 20% after a year ago cautioning clients to expect modest single digit returns.

« Active management pays: FundSourceGlobal pressures increasingly the agenda »

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