Weekly Wrap: Milford to manage NZ shares for Arcus

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The surprise story of the week for me was undoubtedly today’s one about Arcus outsourcing some of its New Zealand shares management to Milford Asset Management.

Friday, January 20th 2006, 2:00PM

Welcome to this week’s Wrap of events. The surprise story of the week for me was undoubtedly today’s one about Arcus outsourcing some of its New Zealand shares management to Milford Asset Management.

I’d always pictured Milford as being more of an advisory group running IMAs (individually managed accounts) for clients, as opposed to being a fundie.

But, as our Updated story on the site says, Milford is moving into funds management.

Milford to manage NZ shares for Arcus
Arcus Investment Management has appointed Milford Asset Management to manage a portfolio of New Zealand shares. [more]

Fixed interest also has had a high profile this week, firstly with our story about the government’s proposed infrastructure bonds, followed by the one about ANZ setting up a division to provide fixed interest to advisers.

Infrastructure bonds on their way
The government’s first batch of infrastructure bonds – a first for New Zealand – will be issued sometime in the first half of this year. [more]

ANZ to launch new fixed interest service
The ANZ is about to launch a fixed interest service for advisers similar to one that has been run by Westpac Institutional Bank for several years. [more]

Capping off the main news events are ISI ceo Vance Arkinstall’s comments about this being the biggest year for the savings industry in a decade.

Biggest year in a decade: Arkinstall
The financial services industry is gearing up for the biggest year in at least a decade, says Investment Savings and Insurance Association chief executive Vance Arkinstall. [more]

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PEOPLE
A couple of appointments here. One is a new head for the Health Funds Association and the other is about Absolute Capital expanding its team. [more]

DIARY
We don’t usually point out the diary in the Weekly Wrap, but it’s worth doing as there are so many events coming up. If you have an event you would like people to know about please email details to info@goodreturns.co.nz

Something which is a mix of People and Diary is the establishment of a “Think-tank” on KiwiSaver. This is being set up by two-well known industry figures and looks to be a good concept. Find out all the details in SuperTalk [more]

Quote of the week: “You couldn’t get a better start to the New Year.” Milford’s Graeme Thomas is happy with his deal with Arcus