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]
 |
Thinking
about finance companies |
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.
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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: FundSource | Global pressures increasingly the agenda » |
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