Borrowers can relax as rate rise unlikely
With consumers keeping a tight rein on their wallets and concentrating on paying off debt rather than borrowing more, Reserve Bank governor Alan Bollard won't be raising rates this week, economists say. [Read On]
TSB moves to fill Macquarie GEAA void
Macquarie's closure of the Gilt Edged Access Account has allowed TSB Bank to step up and promote its Premier cheque account.
The TSB premier account has a lot of similar features to the GEAA, interest is paid on balances over $5,000 (on a sliding scale) and no fees are charged if the monthly balance is above that level.
Money People's Peter Hensley said , "Once we made the decision to move, the local TSB branch has been extremely helpful in assisting our clients to open accounts. They have also credited each account with $100 as an incentive to choose them over their rivals."
"Whilst we were hugely disappointed with Macquarie decision we have been more than pleasantly surprised with the welcome and assistance we have received from TSB."
Lonsec launches NZ Strategic Asset Allocation
Lonsec is offering New Zealand-based advisers a Strategic Asset Allocation (SAA) framework around which to construct client portfolios.
The company said the framework provided a long-term, strategic approach to asset allocation and would be formerly reviewed on a regular basis.
In constructing a robust SAA framework for New Zealand investors Lonsec followed a formal process using both quantitative and qualitative inputs and analysis.
"The quantitative component of the review began with an optimisation framework that aimed to maximise the risk-adjusted return on each Risk Porfile," Lonsec investment consultant Lukasz de Pourbaix said.
"Ultimately the aim is to construct an optimal portfolio by combining assets to achieve an efficient mix of return and risk, in order to deliver the stated objectives."
Darren Howlin, Lonsec research manager, said, "The overall result of this in-depth process is a robust SAA framework for New Zealand investors. Coupled with Lonsec's in-depth qualitative research, advisers are equipped with the tools they need to create quality portfolios for their clients, whatever their risk profile."
| « IFA in partnership with NZ Funds | KiwiSaver mismatch a 'huge challenge' for advisers » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved