First bond tender successful
The first tender of Infrastructure Bonds has been successfully completed, Finance Minister Michael Cullen said.
Treasury's Debt Management Office, on Friday, completed a $100 million issue of 2017 bonds, of which $50 million will be used to help fund a multi-billion investment in land transport over the next five years.
The 2017 issue was eight times oversubscribed. One successful bidder purchased all $100 million of the bonds at a yield of 5.94%, slightly below the market yield at the time of the tender.
Did
the PAA challenge other associations?
The question I want to pose today is this:
Did the PAA lay down a challenge to other associations
this week when it revealed its strategic plan? [more]
New hedge fund manager London-based hedge fund manager Trafalgar Capital Management has created a joint venture with Auckland-based David Copley to create hedge fund products focusing on the markets of Australia and New Zealand.
The joint venture, Trafalgar Copley, will draw upon the experience of Trafalgar Capital, which has five existing funds, and the local support of investment bank First New Zealand Capital. It is anticipated that the first product will be a blended equity long/short and credit strategy, to be launched later this year.
Copley, who is currently head of securities at First New Zealand Capital, will head the portfolio management team as managing director and chief investment officer.
"We are confident that Trafalgar Copley will be at the forefront of the burgeoning Australian and New Zealand hedge fund industry," Copley says.
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