News Round Up

Still time to catch the Tiger, New insurance book, ING snares Urbus, First NZ looks to UK and Ethics for financial planners, Tax paper due today.

Monday, June 27th 2005, 6:30AM

The closing date for Liontamer’s capital protected Asian fund has been extended two week to July 22.

The TIGER Series 1 fund tracks the main share indexes of six Asian countries. The composite index on which returns are based has an under weight position for Japan but includes a larger proportion to both China and India - the high growth economies.

Liontamer says support for the TIGER fund “is superb”. It is planning a second series but that won't be until early next year. [MORE]

New book: Risk Management and Insurance in New Zealand Massey
University lecturer Michael Naylor has written a book on insurance specifically tailored to the New Zealand market. Naylor says it is first book written for those studying or working in the New Zealand insurance industry and will equally serve those seeking to better understand their insurance needs and buy cover.

To find out more about this book and to order your copy either use this link http://www.goodreturns.co.nz/books/product_info.php?products_id=345
or call the Good Returns bookstore tollfree on 0800-345675.

Merged ING trust becomes NZ’s second largest
ING Property Trust and Urbus Properties Limited are merging to form New Zealand’s second largest listed property vehicle, following ING’s successful takeover offer for Urbus.

ING Property Trust has received acceptances of more than 90% of Urbus and will move to compulsorily acquire the remaining shares.

Once merged, the trust is also likely to rank in the top 30 stocks listed on the NZSX50.

“The trust will be able to participate in more significant, and a greater number of, investment opportunities, with the potential for increased earnings and higher returns for all unitholders,” chairman Mike Smith said.

First NZ looks to UK
First New Zealand Capital is reported to be looking at expanding its wrap services into the United Kingdom. The operation will be based in Edinburgh. The company is also looking at moving into Australia.

FNZC’s Asset Watch service is used in New Zealand by ING, BNZ and a range of independent financial advisers.

Ethics for financial planners
AdviserLink is running a course Ethics for Financial Planners" starting this week.

It is described as "a hands-on course involving group discussion of real life ethical scenarios" and has two video-based cases.

The course will provide tools to assist in resolving such ethical dilemmas as the ones included in the videos. Among these tools are a range of "ethical decision models". These will be used in association with the videos and with other short ethical scenarios.