News Round Up

Have you seen the latest issue of Asset magazine yet?

The August issue examines many of the issues raised in the Securities Commission report on Morison Guildford and the Gideon funds and asks what, if anything, is the industry doing about them.

Also inside:

• We profile one of the most influential people in the funds management industry


• Compare risk research packages


• Show you how to sacrifice salary and save tax


• Regular columnist Donal Curtin asks whether now is the right time to start buying tech stocks again and Jenny Ruth finds out what shares New Zealand fund managers are buying and selling, and their reasons why.

Also this month we provide a Special Report on mortgage-backed trusts, have important international news, our regular book reviews, crossword, Jobline section and more.

What will the RB do this week?
One of the big events this week is the Reserve Bank's review of the Official Cash Rate on Wednesday.

The review will set the tone for future interest rates and provide useful commentary on how the bank sees the economy, both locally and internationally.

Emerging markets fund closes
The emerging markets OEIC fund offered in New Zealand by ING is being closed down by its manager.

Edinburgh Funds Management said it was closing its Emerging Markets Fund due to a nominal level of funds under management.

Consequently it is no longer feasible for Edinburgh to offer this diversified portfolio at a reasonable cost to investors.

Investors are being offered the choice of a switch or a refund.

Bond sell down
The Government Superannuation Fund Authority intends to sell up to $50 million of Inflation Indexed Bonds (IIB).

The move is part of its shift from having a portfolio primarily in bonds to one which is more diversified and includes shares.

Since the bond tender programme began in February $895 million worth of government bonds have been sold, but no IIBs have been offered in the tenders. Monthly tenders are scheduled for the remainder of this year and may include the Inflation Indexed Bonds.