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More money for Securities Commission, Liontamer fund forced to close early, Trustees remind investors of their role, Protecting student fees. Comment: Time for biffo on tax.

Monday, May 22nd 2006, 5:59AM
The government has given a significant boost to litigation funds of the Securities and Commerce Commisions in last week's Budget.

The funds, used to fight court cases have been increased by $5.8 million and $7.8 million respectively. Commerce Minister Lianne Dalziel says the funding increase means the commissions "can better protect consumers and investors."

She says the Securities Commission Litigation Fund increases by $5.8 million over the next four years boosting the available funds for cases if required to $8.1 million.

Commodities a winner at Liontamer


One of Liontamer's commodities funds has reached an early maturity because it has performed so well.

The COMBI Series 2 has hit the pre-set growth target of $1.40. This means the fund will mature early and investors will receive a 40% gain for a 17-month investment.

Liontamer says it intends to provide another COMBI fund in August and for ease, will be offering clients a cash account to invest into until this is ready.


The Trustee Corporations Association (TCA) reminded people last week about the role it plays in protecting investors. “We want to remind people about the protections afforded to investors by corporate trustees and statutory supervisors," TCA chairman James Douglas said in a press release.

“Investors looking for a higher return need to consider that, in the majority of cases, these investments carry much greater risk; risk of not providing the promised return or risk of total failure and losing the capital invested as well.”

Financial institutions offering debt securities, unit trusts, superannuation funds or participatory securities to the public are legally required to appoint an independent trustee or a statutory supervisor.

“Our members provide independent oversight of all public investment in the securities market other than shares and bank deposits. This oversight or supervision is comprehensive with the corporate trustee required to act as a watchdog, solely in the interests of the investors; not the issuer of the investment,” Douglas went onto say in his release.


The Public Trust’s student fee protection service, Fee Protect, has protected $315 million of student fees since the service’s establishment in 2003. Fee Protect safeguards course fees and other expenses paid in advance to Private Training Establishments (PTEs) by New Zealand and international students.

Comment: Time for biffo on tax changes
It's becoming clear that the government's new bill on taxing investments is going to be a shambles and the outcome is likely to, therefore, be a mess. [Read On]

« Government to issue infrastructure bondsSovereign takes regulation bull by the horns »

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.74 7.35 6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 7.09 6.95
SBS Bank Special - 7.14 6.49 6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.84 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.24 6.75 6.39
Median 8.64 7.19 7.17 6.65

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