The lighter side of the credit crunch |
Now to credit funds. There continues to be talk about how the ING funds were sold, particularly through ANZ branches. This week we asked the bank about this and they backed their advice and even said they will compensate investors who were wrongly advised. Good on them.
We have run a couple of investment stories this week including the launch of Westpac's cash PIE, and the rate for BNZ Income Securities share offer.
In Depositrates.co.nz you will find a good piece which describes the differences between the BNZIS offer and the ANZ bond offer which is currently in the market. While both looked to have rates over the 10% mark it now looks like they will not be quite so high.
Also Fisher and Paykel Appliances is keeping its finance company. This is no surprise really as I doubt anyone would be wanting to pay a premium for a finance company at the moment – even a good one like this.
In the People section this week Tower appoints a managing director and AIG adds another sales manager. Next week we report on a couple of changes at Hanover.
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