About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, January 21st, 6:17PM
rss
Latest Headlines

News Round Up

Use of trusts increases; Commissioner of Financial Planning job description out; Property values down another 6.8%; New Fallen Angels fund

Monday, November 10th 2008, 6:57AM
The Trustee Corporations Association (TCA) says there has been an increases in size and number of personal trusts used in New Zealand, but the corporate trust sector has shrunk.

During the year, the number of personal trusts increased from 25,780 to 26,350 and the funds under supervision increased from $6.4 billion to $6.8 billion. Investments in corporate trusts including finance companies fell from $120.7 billion in 2007 to $109 billion this year.

Total funds collectively supervised by TCA members in trusts, group investment funds, managed funds, superannuation schemes, and participatory securities was $121 billion, down from $132 billion last year. Debt securities and unit trusts comprise around half of this total amount.

Wanted: Commissioner of Financial Advice


The Ministry of Economic Development has started seeking expressions of interest for the role of Commissioner for Financial Advisers. The commissioner will sit on the Securities Commission but has separate statutory functions set out in the Financial Advisers Act.

The role is expected to be full time. The commissioner has statutory functions and decision-making responsibilities under the Financial Advisers Act, which include: appointing members of a Code Committee; reviewing and proposing changes to a Code of Conduct for financial advisers; chairing a Disciplinary Committee; and serving as a member of the Securities Commission.

To be considered for appointment, candidates must have knowledge of, or experience in, the financial adviser industry or any other industry, commerce, economics, law, accountancy, public administration, or securities.

Property values down another 6.8%
QV's October statistics for the residential property market report a 6.8% decline in national property values over the past year (calculated over the three months ending October 2008 in comparison to the same period last year), down on the 5.8% decline reported in September. The average New Zealand sale price for October remained steady at $379,290. [READ ON]

Fallen Financial Angels
With markets and individual company share prices well down, Liontamer has launched its second Fallen Angels Fund.

The fund provides exposure to 12 large banks whose share prices are currently at historically discounted levels.

Liontamer says there is potential for excellent gains in these banking shares over the next five to six years, and the theme of this fund is very relevant in the current market.

The fund has a five and a half year time frame and offers full capital protection at maturity.

The companies in this fund include: Allianz, Banco Santander, Bank of America, BNP Paribas, Citigroup, ING Group, Intesa SanPaolo, JPMorgan Chase, Munich Re, Societe Generale, UBS and Zurich Financial Services.

« Be careful about re-entering equity marketSovereign 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

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank ▼5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 ▼4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 ▲3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.19 4.35 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society ▼5.50 ▼3.95 ▼4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.97 4.05 4.39

Last updated: 21 January 2020 10:41am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

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