News Round Up

Monday, August 9th 2004, 11:54PM

The winner of last year’s Young Financial Planner of the Year Award, Lisa Dudson, featured in the item of the Sunday news programme on TV One.

The story was about New Zealander’s rising credit card debit, and Lisa gave a good performance showing why people should use financial planners.

To watch the programme click here Lisa Dudson on Sunday

Could you be the next Young Financial Planner of the Year? Click here to find out how to enter.

Newbies spark investor trust interest
The recent listing of two local equity investment companies should increase awareness of the overseas-based investment trust companies already traded on the NZX. [MORE]

Direct market access
New Zealand Exchange has its Direct Market Access (DMA) successfully operating in the New Zealand securities markets. DMA allows accredited DMA NZX Firms to be able to trade directly into the New Zealand market and to tailor access requirements for their clients anywhere in the world.

There are currently six NZX Firms accredited to trade into the New Zealand market using DMA. They are CitiGroup Global Markets, ABN AMRO New Zealand, Macquarie New Zealand, Goldman Sachs JBWere, First NZ Capital Securities and Forsyth Barr.

Rates a rising
Home loan interest rates have been rising since the Reserve Bank put up the official cash rate 11 days ago, but so are some deposit rates.

One of the more significant moves has been changes to the Kiwi Bonds rates. The six-month and two-year Kiwi Bond interest rates have increase by 0.50% and 0.25% respectively.

Check out investment rate changes at www.depositrates.co.nz
The latest Weekly Mortgage Rate report can be found HERE

Offer made for Opio fund
Dunedin City Council-owned, City Forests intends to make a full takeover offer for the Opio Forestry Fund at 85c per unit.

The offer is at a reasonable premium to current prices. It is expected that the offer will be posted to unitholders later this week and is conditional on obtaining acceptances of no less than 75% of the units.

City Forests currently owns and manages approximately 15,300 hectares of forests in the region.

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