Weekly briefs

NZRPT should be wound-up, Equity Research contributes, NZSE considers listing, AMPAM buys PFI contract.

Sunday, June 20th 1999, 12:00AM

Prominent Wellington-based adviser Frank Pearson has called for the New Zealand Rural Property Trust to be wound up.
He says the trust should be subject to an orderly liquidation over a three or four year period.
Pearson says the existing trust structure is flawed because of the mismatch between illiquid assets and unitholder redemption rights.
Proposed changes to close the trust for five years will not be fair on many elderly investors.

AMPAM buys PFI contract
AMP Asset Management has acquired the management contract for Property for Industry (PFI) for an undisclosed amount.

PFI is an industrial property investment company with a portfolio of 37 properties, mainly in Auckland and Wellington.
"As New Zealand's largest private property investment manager, we see real synergies in property investment management services, particularly as we move to an integrated global approach to investment property management," AMPAM head of property James Darkins says.
He says investors will benefit from AMPAM's choice of two targeted top shelf listed property companies, namely PFI and AMP Office Trust.

Equity Research contributes
Listed financial services group Dorchester Pacific, which owns Equity Research, has nearly doubled its annual profit in the year to March 31.
The group says its after-tax profit increased 81 per cent to $1.82 million in the latest 12 month period.
The group's consulting division, which includes Equity Research, contributed $566,000 to the result.

NZSE looks at listing
The New Zealand Stock Exchange is launching a wide-ranging review of its structure and activities that may lead to demutualisation and listing.
The review was being undertaken to ensure the New Zealand exchange kept up with changes in world markets.
Last year the Australian Stock Exchange demutualised and listed and it recently announced it had entered a strategic alliance with the US Nasdaq exchange.

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