News Round Up

House price rise expectations still strong, Commodities fund extended, Fidelity favours NZ, Sherpa welcomes code.

Monday, November 6th 2006, 6:44AM

The prospect of a further slowdown in the housing market seems unlikely judging by the latest housing confidence survey.

In the latest survey confidence is up and there is growing expectation that further house prices are coming.

Confidence is also reflected in the jump up in expectations of further house price increases, with a big 13% uplift to a net 20%. At the start of 2006 only a net 1% of respondents expected house prices to increase – the figure for the third quarter reflects an optimism which is borne out in house sales statistics, including a steady rise in median house sale prices. [MORE]

Commodities fund extended

Liontamer has extended the closing date for its latest capital protected commodities fund by two weeks to December 1.

It says many new firms using the product and a number are still in the middle of marketing activities and seminars. The extension allows them more time to market COMBI Series 3.

Fidelity favours NZ
Britain's largest mutual fund manager, Fidelity International, said in a report published last week that investors had to go off the beaten track to places such as New Zealand to find the best performing markets.

None of the larger, more established markets featured at the top of its returns table in the last decade.

"The UK, US and Japan were noticeably absent while the likes of Finland and New Zealand triumphed," Fidelity's Jorma Korhonen said.

Sherpa welcomes code
The Safe Home Equity Release Plans Association (SHERPA) has welcomed the government’s governments proposed code of practice for home equity conversion schemes.

While the paper is "broad in scope" it is "appropriate for an industry still in its formative stage," executive director Rob Dowler says.

"Consideration of regulatory issues this early in the development of the industry will help progress towards meeting Sherpa’s goal of enhancing consumer protection."

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