tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, November 1st, 10:39AM

News

rss
Latest Headlines

Three in a row for BNZ

The Bank of New Zealand has scooped the FundSource Fund Manager of the Year Awards for an unprecedented third year in a row.

Friday, October 31st 2003, 7:09AM

by Philip Macalister

However, this year the competition was particularly close, FundSource business manager Tim Anderson says.

He says the difference between BNZ, and Tower and BT Funds Management, which were placed second and third respectively, was very small this year.

Although Tower had the most category nominations BNZ pipped them for the overall award as their performance had been “more consistent”.

“The BNZ had the most consistent performance across all the four sectors used to select the fund manager of the year awards,” Anderson says.

A key issue in determining the awards this year was how managers accounted for tax assets within funds which have been created by losses. FundSource says there has been inconsistent treatment of these assets across the industry, which lead to differences in unit prices and performance. Anderson says FundSource has “tax-adjusted” returns to level the playing field.

That way all managers have been all measured on a like-for-like basis. He says if this wasn’t done “it would have left a hole in the awards process.”

A key feature of this year’s awards was the success of some of the smaller managers.

Perpetual Trust took out the top award in the mortgage sector while the Public Trust was runner up in two of the balanced fund categories.

Boutique firm Fisher Funds once again took out the top award for New Zealand shares. This latest accolade comes close on after the company celebrated its fifth anniversary, and had its unit price sitting steadily over the $2 mark.

No awards were made in the international fixed interest area as none of the funds passed FundSource’s quantitative and qualitative screens.

Fund Manager of the Year

Winner

Bank of New Zealand

1st Runner Up

Tower Managed Funds

2nd Runner Up

BT Funds Management

Cash

Winner

Guardian Trust Financial Services

Guardian CashPlus Fund

Runner Up

ING

ANZ FlexiCash Fund

NZ Mortgage

Winner

Perpetual Trust

Perpetual Mortgage Fund

Runner Up

Tower Managed Funds

Tower MortgagePlus Fund

NZ Property

Winner

ING

ING Property Securities Fund

Runner Up

BT Funds Management

BT NZ Property Fund

NZ Equity

Winner

Fisher Funds

Fisher Funds NZ Growth Fund

Runner Up

National Bank of New Zealand

Thoroughbred NZ Equity Growth Trust

International Equities

Winner

Tower Managed Funds

Tower GAM Global Gateway Fund

NZ Fixed Interest

Winner

Asteron

Asteron Corporate Bond Trust

Runner Up

Asteron

Asteron NZ Fixed Interest Trust

International Fixed Interest

No Award

   

Diversified Defensive

Winner

Tower Managed Funds

Tower Tasman Conservative Growth

Runner Up

Public Trust

Public Trust Defensive Fund

Diversified Balanced

Winner

Tower Managed Funds

Tower Tasman Balanced Growth

Runner Up

Public Trust

Public Trust Balanced Fund

     

Diversified Growth

Winner

BT Funds Management

BT NZ Managed Growth Fund

Runner Up

National Bank

Thoroughbred Growth Trust

Note: NZ Funds Management, who receives asset allocation and fund manager selection advice from FundSource, was not considered for the Fund Manager of the Year Award.

« News Round UpSovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 5.44 - - -
AIA - Go Home Loans 7.99 5.99 5.69 5.69
ANZ 7.89 6.59 6.29 6.29
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.99 5.69 5.69
ASB Bank 7.89 5.99 5.69 5.69
ASB Better Homes Top Up - - - 1.00
Avanti Finance 8.40 - - -
Basecorp Finance 9.60 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.94 - - -
BNZ - Rapid Repay 7.94 - - -
BNZ - Std 7.94 5.99 5.69 5.69
BNZ - TotalMoney 7.94 - - -
CFML 321 Loans 6.20 - - -
CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 5.79 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 7.65 5.99 5.75 5.69
Co-operative Bank - Standard 7.65 6.49 6.25 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.40 6.10 -
First Credit Union Standard 8.50 7.00 6.70 -
Heartland Bank - Online 7.49 ▼5.65 ▼5.55 ▼5.55
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.00 6.50 -
ICBC 7.49 5.99 5.65 5.59
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 7.75 6.89 6.59 6.49
Kiwibank - Offset 8.25 - - -
Kiwibank Special 7.75 5.99 5.69 5.69
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 8.44 ▼6.39 ▼6.09 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 7.99 6.95 6.29 6.29
SBS Bank Special - ▼6.15 5.69 5.69
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 5.44 ▼5.15 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.75 - - -
TSB Bank 8.69 6.79 6.49 6.49
TSB Special 7.89 5.99 5.69 5.69
Unity ▼7.64 5.99 5.69 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society 8.50 ▼6.19 ▼5.79 -
Westpac 8.39 6.89 6.39 6.39
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 6.29 5.79 5.79
Median 7.99 6.17 5.79 5.69

Last updated: 30 October 2024 9:36am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com