Archive - 2002
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January 2002
28 Jan 2002 Savings Industry: Three main challenges face industry
28 Jan 2002 Insurance: A wish list
28 Jan 2002 Japan a worry of investors
28 Jan 2002 Tax: The Good, the Bad and the Ugly
28 Jan 2002 News Round Up
28 Jan 2002 Super scheme In disarray: Prebble
27 Jan 2002 New role for Hedley
25 Jan 2002 Greens want to dismantle the Cullen fund
25 Jan 2002 Strong response for guardians to run NZSF
25 Jan 2002 Letter: FPIA responds to Money Managers.
25 Jan 2002 Managers lose value when investing in overseas markets
25 Jan 2002 Changing the perception of hedge funds
24 Jan 2002 Government Action Needed On Private Retirement Savings
24 Jan 2002 Cullen looking at tTE now, not TET
24 Jan 2002 Greens Push Govt On Incentives For Employer-Funded Super
24 Jan 2002 Government's Super Policy In Tatters
24 Jan 2002 Treasury report
24 Jan 2002 Budget constraints rule out tax incentives
24 Jan 2002 IRD slightly nervous about its latest idea
24 Jan 2002 Rivals keen to attack Southern Cross
23 Jan 2002 RB positions for quick change
23 Jan 2002 Cash rate unmoved
23 Jan 2002 Fund management report canned
22 Jan 2002 Letter: Money Managers not happy with comments made by FPIA boss
22 Jan 2002 Housing market in full-blown recovery
22 Jan 2002 OCR unlikely to change this week
22 Jan 2002 Wozniak leaves
21 Jan 2002 Cullen's Super Policy Losing $83,000 a Week!
21 Jan 2002 OCR unlikely to change this week but future murky
21 Jan 2002 Home loan rates set to start rising
20 Jan 2002 News Round Up
18 Jan 2002 Macquarie's strong investment
18 Jan 2002 Tower rearranges team
18 Jan 2002 ANZ and ING do a deal
18 Jan 2002 AIA says no to universal proposal
17 Jan 2002 Good riddance to 2001
17 Jan 2002 Old thinking revealed in super policies
17 Jan 2002 Foster's out the door
16 Jan 2002 First hedge fund for 2002
15 Jan 2002 AMP appoints new NZ shares manager
15 Jan 2002 Targeting Value Stocks in the Small-Cap Arena
15 Jan 2002 Mortgage calculators tested
15 Jan 2002 Challenger still committed to NZ market
14 Jan 2002 Look after managed funds' reputation
13 Jan 2002 News Round Up
12 Jan 2002 New boss at ANZ Funds Management
10 Jan 2002 Super policies reveal all
10 Jan 2002 Mediocre year ahead for Australia: Macquarie
10 Jan 2002 S&P downgrades RSA
09 Jan 2002 Banks expecting more complaints about their funds
08 Jan 2002 Positive signs for the housing market
08 Jan 2002 Bank advisers cop flak
08 Jan 2002 A warning to advisers
07 Jan 2002 CBA changes its structure
07 Jan 2002 News Round Up
04 Jan 2002 Underwriting about making good judgement calls
04 Jan 2002 Commission whacks another contributory mortgage
03 Jan 2002 Moore says farewell
03 Jan 2002 Value managers take investors' anxiety
03 Jan 2002 Tougher controls planned for insurers
Latest News
Koura reports another loss
Koura reports another loss
1 min read
Can AI pick the best KiwiSaver provider?
Can AI pick the best KiwiSaver provider?
4 min read
[Weekly Wrap] What we know, and don't know, about Labour's retirement policies. Plus a potential surprise
[Weekly Wrap] What we know, and don't know, about Labour's retirement policies. Plus a potential surprise
2 min read
NZX aims for 5% of KiwiSaver market in three-to-five years
NZX aims for 5% of KiwiSaver market in three-to-five years
3 min read
Latest Comments
FE Investments in receivership
Fei , trustees still hold large of money not yet refund fully.
1 week ago Raymond Yang
Who is responsible for notifying policy changes?
There is no doubt the obligation is on the insurer who the contract is with. Clearly it would be prudent for an adviser to assist once given clear information by an insurer to assist with the communication but to extend this further. For an insurer to attempt to slide this onto an advisers plate is abdication. The adviser can not change the contract.
1 week ago Darryl Scott
FMA CEO on leave
At the risk of sounding like a broken record, the fundamental flaw in the legislation came about partly through the event that Murray mentions, and also through the negligence of the Select Committee in ignoring the single most cited recommendation in all the submissions (over 34% from memory) of drawing a distinction between product sales and financial advice. To add to their misdemeanour, the Committee then added a paragraph to the Bill confirming that recommendation of one product only constituted financial advice - or words to that effect. The inherent conflict of interest lies in an individual retained by a Class 4 licensee being required to adhere to a code of conduct that requires prioritisation of client interests. To expect a product sales person to subordinate their contractual obligation to their employer is unrealistic, unworkable, and unreasonable. To emphasise, I have no issue with a product provider marketing and selling their own products - but not behind the opaque veil of legislation intended to govern financial advice. If MBIE ever gets around to review FSLAA, Financial Advisers, FANZ, and all other interested stakeholders should mount a fully-funded intensive campaign to persuade our employees in Wellington to remove class 4 licensees from FSLAA, and replace their obligations within an amended CoFI Act.
2 weeks ago David Whyte
FMA CEO on leave
@Murray: The reps seemed to be acting on their personal interests rather than the interests of advisers. Conflict of interest, isn't it?
3 weeks ago w k
KiwiSaver funds shake off Middle East tension
In this recent presentation of mine https://www.knowrisk.co.nz I show that the average Balanced KiwiSaver fund has added approximately +0.43% over and above the gross average policy Benchmark's return's. However, the averge annual costs of -0.97% for Balanced funds have eroded that to be slighly below BMK after costs consistent with typical SPIVA studies. Note this cost number is for the 45 Balanced Funds used only - for all KiwiSaver Funds it is closer to -0.70% p.a. The presentation goes on to show that quite a bit of return is being left on the table by the one size fits all view of risk.
3 weeks ago P Urbani