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'Well-deserved' $80m for irrigation

David Carter: Parting gift to rural sector

New Speaker David Carter makes parting gift to the rural sector.

Xero raises $35.6m

$15.6 million SPP takes recent capital raising to $35.6 million.

Budget 2011: SOE sales to fund growth

Torchlight readies for buying spree with $150m fund

Pyne Gould Corp subsidiary Torchlight Investment Group (TIG) is on the look out for counter cyclical investments after raising $150 million from local and overseas investors.

TIG – chaired by PGC shareholder George Kerr – said its Torchlight Fund No 1 fund could grow to $170 million following reserved allocations.

TIG has already been active in the market this year, arranging a $100 million loan for troubled finance company South Canterbury Finance.

Gaynor's Milford fees come under scrutiny

Media commentator and fund manager Brian Gaynor never shies away from having a crack at management fees so it will be interesting what he makes of Morningstar's assessment of his own KiwiSaver fund.

By and large the fund rating agency gave Milford's Aggressive portfolio the thumbs up in a recent assessment, noting that Mr Gaynor has maintained a bearish outlook on markets so the portfolio has been heavily invested in cash (around 70% since launch).

That helped the fund record a one year return of 8.13%, against the NZSX-50 index’s -25% return over the same period.