NZX50 climbs for a second week as reweightings drive heavy Friday trading

It was a busy day for M&A among local fund managers.

New Zealand’s S&P/NZX 50 index rose for a second week in a heavy trading day on Friday as institutional investors tweaked their portfolios to reflect changes in various FTSE and NZX indices, with $103 million of Infratil shares changing hands.

SkyCity Entertainment Group led the benchmark higher on Friday after reaching a smaller settlement with South Australia’s gambling regulator ...MORE»

Second funds management firm sold today Friday, June 19th, 2:15PM Hot on the heals of Devon buying Castle Point Funds Management, Forsyth Barr has sold its Octagon Asset Management and Summer KiwiSaver scheme. MORE»

CastlePoint Funds sold (again) Friday, June 19th, 11:25AM PG Funds Limited, part of the Perpetual Guardian Group, has entered into an agreement to sell CastlePoint Funds Management. MORE»

Pathfinder cements its dominance in ethical awards

Pathfinder has again taken out the top awards in Mindful Money's annual ethical investing awards.

,small>Pic: All winners at the Mindful Money Awards. Source: LinkedIn

Pathfinder has taken out the top honour at this year’s Mindful Money Ethical and Impact Investment Awards, with judges praising its leadership in ethical investing and growing focus on investments that deliver positive social and environmental outcomes.

The sixth annual awards were held in Auckland on Wednesday night and ...MORE»

Today's retirees feeling priced out of retirement Thursday, June 18th, 1:30PM New Zealand retirees are being squeezed financially from multiple directions at once, leaving little room to move on fixed incomes, a new survey from Lifetime Retirement Income shows. MORE»

Pathfinder commits more funds to climate VC firm Wednesday, June 17th, 4:15PM Pathfinder has become the first institutional investor in climate-tech venture capital firm Motion Capital, committing funds that have helped lift the manager's debut fund to $27.2 million. MORE»

News Bites

Summit to examine financial advice policy, regulation, and professional standards

Financial Advice New Zealand is launching an Advice Policy Summit in conjunction with the Financial Planning Standards Board Asia Pacific Forum. MORE»

GoodReturns TV

Fisher Funds moves to woo advisers back

After years of neglecting the adviser market, the investment manager is going on the charm offensive.   MORE»

SpaceX and the South Sea bubble - the historical parallels

The proposed IPO of SpaceX at a valuation reportedly approaching US$1.8 trillion prompts comparison with one of history's greatest speculative manias. MORE»

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Health and life insurers out of climate reporting

Health and life insurers will not face enforcement action if they fail to lodge climate statements while legislation removing them from New Zealand’s climate reporting regime makes its way through Parliament. MORE»

TMM Online

Brand awareness and tech the big issues for merged banks

Technology is going to be the key for the proposed TSB Heartland Bank to become a major challenger of scale with a regional focus. MORE»

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Squirrel further bolsters leadership team to support growth

Squirrel has appointed a new Chief Operating Officer and Head of Legal, Risk & Compliance as it positions itself for its next growth chapter. MORE»

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Adviser complains about KiwiSaver campaign

[UPDATED - ASB response] A financial adviser worried about ASB’s marketing campaign for its KiwiSaver schemes has taken his complaint to the Financial Markets Authority. MORE»