[Weekly Wrap] Capital protected success

The biggest story of the week was one Good Returns first reported on Monday – that is Belgian bank KBC taking a 51% stake in capital protected specialist Liontamer.

Friday, June 1st 2007, 2:52PM

Liontamer is an unquestionable success story in the New Zealand market place raising more than $200 million in four years.

The buyout has some interesting twists to it including that management will remain with the team in New Zealand and that Liontamer is looking to expand into providing niche, global share funds to the market as well. Good Returns has a comprehensive story on this deal here.

Also at the start of the week we reported that the proposed merger between the Life Brokers Association and Professional Advisers Association failed to get ratification at the LBA annual meeting. It is still unclear why this merger failed, especially as it seemed to make sense.

Sticking with the associations, it seems that all four associations are back talking to each other regarding the creation of an industry APB. From the sidelines here it seems some major political maneuvering is going on.

Financial advisers should look outside the industry to see how the government may regulate their industry. This week it released a discussion paper on regulation of real estate agents. The model used for this group could well be replicated in the advice space. You can find out more about it at landlords.co.nz

On the funds front we have the EPIC share offer closing oversubscribed and today report that Fisher Funds is looking to close its flagship NZ Growth Fund to new investments soon as it is reaching the maximum size. Like Liontamer this is another boutique fund manager which has done really well in recent years by offering something a little different.

Last week we asked you to complete a KiwiSaver survey. This survey is designed to get a fix on where advisers are at with their KiwiSaver thinking and how they may advise on the super scheme. The response rate so far has been very good. If you haven’t taken the survey yet please do it. Today is your last chance so and it only takes a few minutes to complete. Click here to go to the survey.

Filling in the survey will also help us to provide you with the information you want about KiwiSaver.

Still on KiwiSaver we have Michael Littlewood’s response to the changes announced in the Budget and many of the latest press releases on KiwiSaver.
You can find all this information at kiwisaver.net.nz.

Guarantees and Morgan
Gareth Morgan isn’t too pleased with my comments in the previous Blog giving some initial reaction to the Budget.[more]

During the week an Australian finance company, which had touted for money in New Zealand, fell over. Apparently all New Zealand investors (we understand there weren’t many of them, but a couple who had put in reasonable sums) have had their money refunded.

Also during the week we have had results from St Laurence, Lombard and Dorchester. Updates on these companies can be found at depositrates.co.nz

The Home Loan market is still busy. Rates are going up and next week’s OCR announcement could see yet another hike in rates. Meanwhile, AMP has re-entered the market with its accredited advisers now able to offer AMP-branded, Kiwibank loans to customers.

In the people section we have news that Ross McEwan is heading to Sydney, a new boss appointed at Tyndall and Kinloch Funds has a new director.

And in the you-read-it-here-first category, we understand TOWER's long-standing New Zealand equities manager Wayne Stechman has left, or is leaving the company. It is unknown who has taken over the role or where he has gone.

Also Marshall Garrett the founder of Broadbase is moving on. More on both these stories next week.

Finally, be sure to check out Jobline for some exciting new vacancies within the industry.

Have a great week end.