tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, March 2nd, 10:32AM

News

rss
Latest Headlines

News Round Up

Westpac's Wrap reaches half bill, Another asset favoured, Comment and reaction on discussion document, New scam warning, Tower hit by storms and riots.

Monday, July 17th 2006, 6:44AM
Westpac says that its combined administration and investment service, Westpac Wrap, has reached $500 million. This is five times the balance and nearly four times the customer numbers the Westpac Wrap launched with in October 2004.

A key ingredient of the Wrap is The Westpac Premium Service, providing consolidated reporting so that customers can see their investments combined as one portfolio. The Premium Service offers a number of model portfolios.

The bank says Westpac is now one of the top two administrators of investment portfolios in New Zealand on the ASB-Bank owned Aegis platform.

The Westpac Wealth management offering is available to people with a balance of at least $50,000 and includes a wide range of services including the Wrap portfolios, managed funds, superannuation, share and bond trading, new issues and structured investment products.

Residential property not the only favoured asset
For the first time ever another asset class has equalled residential property in the ASB Investor Confidence survey.

While residential rental property remains the highest ranked asset class, at 19%, it has been joined this quarter by bank accounts and term deposits.

"Given market dynamics it is not surprising that confidence in residential rental property and managed funds both dropped this quarter, while bank accounts and term deposits rose," ASB head of relationship banking and financial services James Mitchell says. "This change is in line with the decelerating housing market and weaker equity performance, and high deposit rates for savings products.”

“In general, people are still relatively optimistic about their investment returns," he says.

New scam warning
The Securities Commission is warning investors about a new version of unsolicited investment offers from overseas.

The scam uses faxes and e-mails to target people with offers of share deals. The investment offer is meant to get victims to send money before the “services” are delivered. To prove their authenticity these “brokers” often refer people to fake regulators’ websites.

These websites use .gov.us in their addresses. All United States federal websites have websites addresses ending with .gov. A website ending with .gov.us is likely to be a fake agency.

Comment - and reaction on discussion document The MED discussion document on adviser regulation is a useful start, but a little frustrating.

Why? Well it seems many people wanted a roadmap which they could discuss – rather they have a zillion questions to answer.

The challenge is to isolate the direction this thing is going and decide how different it is from the task force recommendations. [Read on...]

Tower hit by storm and riot claims
Financial services company Tower said it faced recent insurance claims of over $5 million from local storms and Solomon Island riots, but these were in line with its forecasts [more]

« Hanover looks to boost profit 20%Sovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.45 7.05 6.85
ANZ 8.64 7.99 7.49 7.35
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.39 6.89 6.75
ASB Bank 8.64 7.39 6.89 6.65
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 - 7.29 6.85 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 ▼7.89 ▼7.45 ▼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 - ▼7.09 - -
Co-operative Bank - Owner Occ 8.40 ▼7.29 6.89 6.75
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 ▼7.79 7.39 7.25
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 6.69 6.45 6.19
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 6.85 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.59 7.29
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.35 7.89 7.65
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.35 6.89 6.75
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.90 7.39 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.30 7.89 7.69
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.30 8.89 8.69
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.95 7.45 7.29
SBS Bank Special - 7.45 6.95 6.79
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 7.05 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.19 7.55 7.55
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.39 6.75 6.75
Unity 8.64 6.99 6.85 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 7.15 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.45 7.37 6.77

Last updated: 1 March 2024 10:00am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com