More than $1b traded on NZ sharemarket as it rises again

A solid six-month financial result from Turners Automotive provided the New Zealand sharemarket with more confidence and strength, though Air NZ has downgraded its first-half earnings guidance.

Midday was again the touchpoint for the S&P/NZX 50 to climb higher and the index closed at 13,196.08, up 154.18 points or 1.18% after reaching a morning low of 12,942.66. The index has risen 3.35% in the last two trading days.

The market, in the end, was dominated by massive late trading on the last day of the November quarterly review for the MSCI global indices, with Infratil going into the ...MORE»

DRS member or not - client care remains advisers’ responsibility Monday, November 25th, 6:39AM  1 comment Both the regulator and government officials say the onus falls on advisers to work with disgruntled clients to try to resolve their complaint even if they have left the sector or joined a new provider. MORE»

Ethical KiwiSaver provider maximising advisor channel for next growth stage Friday, November 22nd, 6:00AM Further proof of the ability for ethical investment to deliver strong returns will likely help keep the company’s pipeline flowing, says Pathfinder’s co-founder. MORE»

Fresh solution to liability gaps needed

Sector-wide collaboration is needed to find a way to bridge advisor liability gaps for both consumer and advisors’ protection, according to one dispute resolution service.

Financial Services Complaints Limited chief executive Susan Taylor said the number of complaints to the scheme from clients of former DRS members was trending up, as more advisors retired, sold their business or merged with other providers and their advice was no longer covered by their DRS.

“We had one case earlier this year, the complainant’s son, who lived in Australia, had fallen very ...MORE»

Value of index tracking seen in the numbers, says Kernel Tuesday, November 19th, 7:50AM  1 comment The increased availability of index fund options and the strength of returns for investors continues to lay down a challenge for active managers, according to Kernel Wealth chief executive Dean Anderson. MORE»

No plain sailing around Castle Point Monday, November 18th, 7:36AM  1 comment Castlepoint turnaround taking longer than expected. MORE»

News Bites

Booster Foundation takes off

The Booster Foundation inks five partnerships in first year. MORE»

GoodReturns TV

[GRTV] Stronger and more unified voice needed to force KiwiSaver changes

The Retirement Commissioner Jane Wrightson talks to Philip Macalister about changes she would like to see made to KiwiSaver. MORE»

Power Plays: Navigating New Zealand’s Electricity Market

It’s been a charged year for New Zealand’s electricity market, and not just because of the literal power surges. Earlier in the year, a perfect storm of low hydro lake levels, lacklustre wind, and a gas shortage sent electricity prices through the roof. Headlines buzzed with warnings of market dysfunction, with some pointing fingers at a lack of competition and an underinvestment in generation. With wholesale electricity prices and lake levels having returned closer to normal levels, we ask if the headlines are a fair reflection of reality. MORE»

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Insurance company continues winning streak

For the second consecutive year Asteron Life has been awarded Life Insurance Company of the Year at the ANZIF Insurance Industry Awards. MORE»

TMM Online

All eyes on interest rates for next two years

Aside from the expected RBNZ 0.50% OCR drop on Wednesday, economists are expecting a thorough update of where it sees interest rates going over the next two years. MORE»

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TAP adds compliance support

The Adviser Platform grows their compliance and governance team with new appointments. MORE»

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KiwiSaver assets grow to $117.6 bill

The KiwiSaver pot grew by $7 billion to $117.6 billion in the third quarter of this year with QuayStreet, Milford and Generate highlighted as some of the strong performers over the long term. MORE»