Weekly briefs

Jobline coming, Investors miss interest payment, Smarter Smartplan and Guardian Trust rebalances.

Sunday, October 11th 1998, 12:00AM

Good Returns is pleased to announce that it will be launching a situations vacant service called Jobline this month.
Publisher Philip Macalister says Jobline is being launched in response to a demand for such a service within the financial services industry.
Good Returns has built up a strong and growing readership in its first year of operation and it is being recognised as the key source of timely and accurate information about what is going on in the industry.

"Jobline will be a key place for businesses to advertise any positions they have available within their organisation," he says.
For further details about advertising in Jobline please email sales.

Smartplan gets smarter
Royal & SunAlliance have made some further improvements to its omnibus insurance contract Smartplan.
Smartplan allows advisers to write various cover (life protection, living insurance, permanent disablement, income protection etc) on clients all under one contract.
Risk product manager Ian Brown says one of the key changes is that 99 lives can now be covered under just one Smartplan contract.
Also the new early payment of life protection benefits lets advisers select any amount of the life protection to be paid if the life assured become permanently disabled. Or suffers from major health problems.
Royal has also improved the definitions for permanent disablement, heart attack, cancer, stroke and coronary artery bypass.

Investors miss payment
Investors in the Rural Super Bond Superannuation scheme have missed out on a quarterly interest payment because of cash flow problems at Apple Fields.
The problem has been blamed on Apple Fields failure to sell some of its orchards to generate cash.
The company says the payments will be made once some property sales are concluded.
It expects to front up with the $300,000 overdue on the bonds within a month.

Guardian rebalances
Guardian Property Fund has sold 305 Broadway, Newmarket for an undisclosed sum following a tender of the property through CB Richard Ellis.
The property which has a passing rent of $203,500 was sold to an unnamed purchaser at an initial yield of 6.5 per cent.
Property investment manager Grant Unsworth indicated that the sale provided an increase on its present valuation of 22 per cent and will add to the performance of the fund by boosting the unit price.
"We decided to sell 305 Broadway to maintain the balance of our sector weightings between retail and other sectors within the portfolio," he says.
The fund is also in the process of disposing another WespactTrust property in Christchurch which is due to go to auction in November.

Conference cancelled
The Managed Funds '98 conference being organised by AIC Worldwide has been cancelled.
The two-day conference was to be held in Wellington at the Plaza International Hotel from October 12 to 13.
It has been cancelled due to lack of interest.

« Sovereign next to go

Get your tax questions answered online »

Special Offers