News Round Up

Six support FPIA, Workplace super endangered, Missed the Action?, Benefits of a combined approach.

Sunday, July 16th 2000, 12:00AM

Six fund managers have so far pledged their financial support to the Financial Planners and Investment Advisers Association for the next three years.

FPIA president Andrew Charles says BT Funds Management, American International Assurance, Royal & SunAlliance, AXA, AMP and Sovereign have all committed to supporting the association for three years.

The support of these organisations will help the association, which was formed last year, become self-sufficient and financially viable.

He says that as the association gets stronger it will be able to channel benefits back to its members.

Workplace super endangered

New Zealand workers are at serious risk of losing access to workplace superannuation AXA New Zealand chief executive Ross McEwan warns.

He says greater emphasis needs to be placed on workplace savings schemes to help people save for their retirement and to bolster the country's savings level.

"No-one can deny that it will always be easier to deduct savings at source, rather than to prise the money out of investors' hands, " he added. MORE

Missed the Action?
We can help you if you missed the Financial Planners and Investment Advisers Conference in Wellington last week, but still want to hear what the speakers said.

Tapes of most keynote addresses and the workshops will be available through the Good Returns Bookstore later in the week. Send us an email if you would like to know when the tapes are available.

Singing the praises of Australasia
Colonial First State senior portfolio manager Gerry Verhaart says the decision three years ago to introduce an Australasian equity find, instead of having separate New Zealand and Australian ones, is providing good returns to investors.

For the three years ended 30 June 2000, Colonial First State’s Australasian share portfolio produced a gross return of more than 10 per cent, compared with the NZSE40 gross index of nearly one per cent.

The Tasman Developing Companies Trust, which was set up in May 1999 to give investors access to the growth opportunities of small to medium sized companies on both sides of the Tasman, delivered a gross return of 37.5 per cent, for the year ended 30 June 2000, up 34.2 per cent on the NZSE40 gross index of 3.3 per cent.

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