News Round Up

STOP! Do No Invest In Residential Property, AMPAM builds $30 billion property empire, Major relaunch of investment products.

Sunday, January 23rd 2000, 12:00AM

Duncan Balmer's second book "STOP! Do Not Invest in Residential Property..." is bound to create a flurry of criticism.

Balmer, who is an investment adviser with Farmers' Mutual Group, says the book demonstrates that all of the alleged tax benefits of property investment are either irrelevant or complete garbage, and that the tenant does not pay the mortgage in most cases.

The book demystifies gearing and negative gearing, and provides a number of typical rental situations.

For those who still want to invest in residential property there is a section outlining how to minimise the risks

You can order your copy of STOP! Do Not Invest in Residential Property... through Good Returns' bookstore. Price $24.95.

CLICK HERE TO ORDER.

AMPAM builds $30 billion property empire
AMP Asset Management is to amalgamate its property business into a new global business that will have more than $30 billion under management.

The move will see AMPAM establish five regional operations based in North America, Australasia, United Kingdom, Continental Europe and Asia Pacific.

AMPAM managing director Murray Gribben says the restructure will mean New Zealand investors get to invest directly in the world's key property markets.

"It also means that the New Zealand operation will benefit from the much increased resource which will result from a global operation, while still retaining a tight local focus."

Under the structure there will be dedicated locally-based teams in major regions and they will work with a common investment philosophy and business standard.

Major relaunch of investment products
Royal & SunAlliance has revamped and relaunched the investment products offered by Guardian Assurance.

The relaunch sees a number of changes to the Retirement Plus Personal Superannuation Plan, Saveguard Plus and Mortgage Plus products.

Key changes include:

Fees on all three have been reduced and the initial fee structures have been simplified.

RSA no longer offer life/TPD cover on the Retirement Plus Personal Superannuation Plan.

The Whole of Life contracts are being closed and Wise Bonds will be closed to new business on January 31 (rollovers of up to one year will be allowed).

There is no stand-alone investment bond, rather it has been incorporated into Saveguard Plus.

There is no stand-alone Retirement Bond, rather it has been incorporated into Retirement Plus Personal Superannuation Plan.

« Employers embrace master trusts

Get your tax questions answered online »

Special Offers