Investment

Cullen Fund struggles in January, drops 2%

The New Zealand Superannuation Fund has had its worst month of the 2009/2010 year, falling in value by more than $300 million after months of solid gains.
The fund produced a return after fees and before tax of -1.97% in January, only the second negative

Q&A- the ins and outs of financial adviser regulation

What's happening to the rules for financial advisers?The Financial Advisers Act, which was passed in 2008 by Labour alongside the Financial Services Providers (Registration and Disputes Resolution) Act, is going to be fully implemented by December, accord

KiwiSaver profitability years away for AMP

KiwiSaver has brought a deluge of funds flowing into AMP but it will be a long time before it actually makes any money from the new cash sloshing around.AMP Financial Services New Zealand announced today that its operating earnings ($68 million) and its u

AMP profit edges up on cost-cutting drive

AMP Financial Services New Zealand has reported a 2% increase in operating earnings to $68 million and a 2% rise in underlying profit to $77 million in the year ended December 2009.
The company credited the improvement to a reduction in costs as well as

Prices for plant and machinery continue to decline

New Zealand's high exchange rate has pushed prices for capital goods down further.Today's release of Statistics New Zealand's Capital Goods Index shows a fall of 1.1% in plant and machinery costs in the December quarter – a change mostly driven by f

KiwiSaver growth funds improve but risks remain

KiwiSaver growth funds have had another strong quarter but they still lag behind default funds in performance over the last two years, according to Mercer's latest KiwiSaver survey.Growth funds led all categories in the quarter to December 31 with a media

Rental property remains most popular investment - ASB

As confidence grows investors are shifting towards investments with greater potential returns but property remains the top pick, according to a new survey.Investor confidence has climbed to the highest recorded level since the ASB Investor Confidence surv

NZ Super Fund nears $16 billion, closes in on target

My Food Bag delivers 18% earnings lift but uncertainty remains

Revenue outperformed its prospectus forecasts.