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Investment statements to change. New name, new focus for manager.

Monday, January 7th 2008, 9:37AM
Investment statements will need to be altered when the new investment adviser disclosure laws come into force on February 28.

The key changes is in the "Important Information". The Securities Commission, says the "changes to investment adviser disclosure laws are significant".

However it has indicated it will allow existing stocks of investment statements which don't comply with the new laws to be used after February 28.

"Issuers who distribute existing investment statements after that date can take steps to ensure that the information about investment advisers in their investment statements is not inaccurate by distributing a copy of the new investment adviser statement with each investment statement (or they could amend an existing investment statement by placing the new statement over the old).

"The commission encourages issuers to take steps such as these to inform investors about their rights under the new investment adviser law, but does not have any objection to issuers continuing to use existing stocks of investment statements."

New name, new focus
Australian fund manager, WRF Securities, which also operates in New Zealand, has changed its name to Viento Group.

WRF has around A$335 million, with the bulk of this in fixed term property syndicates and the A$45 million balance in its diversified property fund.

However, under its new managing director, Maurice Kluge, the firm has not only changed its name, but its focus too.

He says that Viento will "specialise not only in the manufacture and distribution of intelligent and innovative property products but also other similarly stable investment solutions for both retail and institutional investors."

Viento will offer alternative investments such as infrastructure assets, private equity and fund-of-fund hedge funds.

« Brook flagged as new home for NZIT investorsSovereign takes regulation bull by the horns »

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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
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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 - - -
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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 - - -
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TSB Bank 9.44 7.79 7.55 7.45
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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 - - -
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Westpac Special - 7.24 6.75 6.39
Median 8.64 7.19 7.17 6.65

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