Retailers had a busy day.
Investors are facing a 40% drop in wealth over the next ten years if they do not put their funds into inflation-protected investments, says an investment management firm.New Zealand Funds Management, which has $1 billion under management, said Treasury fo
The Institute of Financial Advisers (IFA) has announced the appointment of Nigel Tate as president from July 1, replacing Lyn McMorran who is stepping down after two years in the job.IFA chairman Phillip Meyer said Mr Tate is a highly regarded adviser bas
New Zealand's total funds under management, including funds managed for other managers, reached $53.7 billion at the end of March, according to new FundSource data.This was a significant improvement from the same time last year when funds were at rock bot
KiwiSaver funds with a higher allocation to shares and property were the best performing funds in the first quarter of 2010, according to Mercer's KiwiSaver survey.But Mercer New Zealand boss Martin Lewington has warned that with global markets starting t
A fund manager has launched a scathing attack on the draft Code of Professional Conduct for Authorised Financial Advisers, warning that it could stifle free speech if left unchanged.The National Business Review reported last week that the Institute of Fin
David Colvin has been appointed to the newly created position of chief executive of Auckland-based company New Zealand Mint.He was most recently chief executive of ASX-listed technology services company ConnXion Limited based in Sydney and before that he
Effective engagement on regulatory change is vital to the ongoing success of the KiwiSaver scheme, according to industry group Workplace Savings NZ.Commerce Minister Simon Power last week announced changes that will ensure fund managers and trustees of re
Suncorp-owned insurance company Asteron Life has announced it will withdraw from KiwiSaver to focus on its core business and it expects more KiwiSaver exits will follow.Asteron, which has about $33 million of funds under management across 6200 KiwiSaver c
Financial advisers will be given extra time to fully comply with the new regulatory regime, Commerce Minister Simon Power announced tonight.He made the announcement at the Institute of Financial Professionals New Zealand (Infinz) annual awards in Au
