News Round Up

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Macquarie have launched its Titan fund which is a capital-guaranteed, hedge fund with a fixed investment term.

The fund is an Australian one but it is New Zealand dollar dominated for local investor, and the minimum investment is $5,000.

Look out for a full report on this fund in Good Returns tomorrow. If you would like an investment statement send your mailing address to titan@goodreturns.co.nz

AXA's rating
International ratings agency Standard & Poor’s has affirmed its AA insurer financial strength and long-term counterparty credit ratings on National Mutual Life Association of Australasia Ltd. (trading as AXA Australia and AXA New Zealand, together AXA Australasia).

However, following the revision of the ratings outlook on the parent, AXA Insurance Group, to negative from stable, the outlook on the local company’s long-term counterparty credit rating also is revised to negative from stable.

The key rating factors are the group’s extremely strong global business position in the world’s leading insurance markets, very strong (although increasingly pressurised) capitalisation, and very strong management team and strategic track record. The outlook revision is based on the new and important challenge the AXA group is facing, including restoring its operating performance to a level consistent with the current ratings within the next two years.

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