News round-up

Fisher Funds joins RaboPlus; Details of social infrastructure fund; Minerva to take over running PIS; Farewell GSJBW, hello Devon.

Monday, March 15th 2010, 5:00AM

Fisher Funds is the latest fund manager to start offering its investments directly to the public through RaboPlus.
Three of its equities funds will be sold are the New Zealand Growth Fund, International Growth Fund and Australian Growth Fund.

RaboPlus will offer free entry to the funds for a month. Normally it charges investors a 0.75% entry fee.

"We are starting to see a cautious but renewed interest in high risk, high return products," RaboPlus general manager Mike Heath says.

Other managers with their funds on RaboPlus include AXA, AMP Capital, Brook, Tower and Asteron.

Social infrastructure fund details expected
Expect an announcement today on a new fund which offers retail investors the opportunity to invest alongside institutional investors in social infrastructure, via Public-Private Partnership (PPPs).

Social infrastructure includes assets like schools, prisons, court houses and transport. Last year

Craigs Investment Partners and Morrison & Co announced their intention to launch a New Zealand Social Infrastructure Fund.

Minerva to take over running PIS
Maurice Trapp's insurance group Minerva is to take over running PIS in New Zealand following the resignation of PIS general manager, David Keys. [Read On here]

Farewell GSJBW, hello Devon
Paul Glass's new funds management firm Devon Funds Group takes over the Goldman Sachs JBWere Asset Management today.

The purchase, which was completed on last Friday, will see a number of changes to the business as well as the Goldman Sachs' trans-Tasman equity fund.

The fund, currently named Goldman Sachs JBWere Trans-Tasman Equity Unit Trust will change to Devon Trans-Tasman Fund, but the investment style, objectives and management of the fund will remain unchanged.

Goldman Sachs' name was officially changed to Devon Funds Management.

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Sovereign takes regulation bull by the horns »

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