New funds raining down
Weekly Wrap: A summary of the top news stories during the week.
Friday, February 16th 2007, 11:19PM
I recall making some comments last year that 2007 would see a huge amount of new funds and products coming into the market. Well that has already been proved right.
This week Good Returns has reported on one of the first long/short funds to hit the market since the rules on shorting were changed last year. Also today Mint, the product of former ING executives, is unveiled. Mint's ceo Rebecca Thomas has some interesting comments in today's story which are worth reading. Also we have a new fund from a crowd called Trafalgar, which will be in Monday's News Round Up
This is all before KiwiSaver comes to market. I am told that there maybe more than 100 KiwiSaver products within a year. That is product proliferation. Let’s find the savers!
While the investment space has been busy we understand there is a lot too happening in the insurance market. More on that later.
New products maybe the theme we start this Weekly Wrap with, but another story on Good Returns is potentially industry shaping too.
That is the unveiling of the Professional Advisers Association’s strategic plan this week. I attended the Hamilton presentation on Wednesday and came away feeling the PAA is really starting to be a well-organised force representing advisers. Its plans could well have more than ripples around the industry and these are covered in the following Blog.
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Did the PAA challenge other associations? |
Over at SuperTalk you will find an insightful piece from Rob Hosking interpreting Finance Minister Michael Cullen’s musing. Also we have AMP saying compulsory super is the next logical step with KiwiSaver. I have more to say on this and will comment – hopefully – next week.
Yesterday we had a little action in the home loan front. Firstly retail spending figures point towards another rate hike from the Reserve Bank. Secondly there is some criticism of the BNZ’s seven-year rate and just to wrap things up, Kiwibank keeps buying things (with our money).
If you haven’t caught up with the latest appointments, Mint’s new equity analyst, or what Michelle Keach from Bridgecorp is doing then visit People. To find out what events are coming up in your area go to the Diary.
And if you a Provincial Finance investor or want to know the latest deposit rate news go to www.depositrates.co.nz
| « Now is the time for equities | Sovereign takes regulation bull by the horns » |
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