Over the full year Arcus also produced the highest return of 28.5% while BT Funds Management lagged the rest with a return of 20.7%, the latest Mercer report shows.
Fund managers with the highest exposure to overseas share markets and foreign currencies fared the best over the quarter and year. Arcus topped the survey through its balanced fund having over half of its assets invested in offshore equities and a higher than average exposure to growth assets (shares and property).
GPG win winds up opposition to tax changes
GPG’s New Zealand director Tony Gibbs is also urging shareholders to write to the Prime Minister and ask for changes.
“I urge you to write to the prime minister requesting her Government to rethink these proposed changes so that an unrealised capital gains tax is not imposed on thousands of New Zealand GPG shareholders."
Macquarie does the splits
Macquarie Securities is a newly accredited NZX Trading and Advising Firm, and Delivery and Settlement Participant.
Macquarie Securities will conduct the institutional business previously conducted by Macquarie Equities. Macquarie Equities will continue to conduct Macquarie's retail business.
"We are delighted to see Macquarie open their business up to separate retail and institutional branches," said NZX Market and Client Services manager, Adrienne Quinn.
LM fund put on hold
Standard & Poor's Fund Services has put the rating on LM Investment Management’s LM Mortgage Income Fund (12 Months) 'On Hold' pending clarification of the supplementary product disclosure statement dated April 21, 2006.
"S&P will be meeting with the fund manager in the coming week to discuss recent changes to the product disclosure statement," said S&P fund analyst Peter Ward.
Comment: Jim Minto's views on the advisory industry
I was pleased this week to get an email from TOWER group managing director Jim Minto where he expresses his views on the future shape of the advisory industry. As readers will know we had plenty of responses from advisers - all supporting the argument I expressed in my Blog.
Jim's email is interesting as it comes - I guess you could say from the other side of the fence. I wonder if any other groups are prepared to respond??? [Read on]
| « Kingfish reveals a good catch for the year | Sovereign takes regulation bull by the horns » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved