News Round Up

ANZ National get a guarantee; KiwiSaver a priority for National; Comment: Changes, changes, changes; Pure performance for portfolio

Monday, November 17th 2008, 5:00AM

ANZ National has been accepted into the government's retail deposit guarantee scheme. This means that retail call and term deposits with ANZ and The National Bank are guaranteed under the scheme. For a list of which institutions have been approved Click Here

KiwiSaver changes should be a priority: ASFONZ
Repealing the latest amendments to KiwiSaver should be on the top of the list for National, according to ASFONZ.

“KiwiSaver’s fundamentals remain and the scheme will become more accessible for workers, but with the removal of the employer tax credit and lower caps proposed for some of the incentives on offer, less generous overall,” chair David Ireland says.

The law changes were rushed through Parliament and were originally introduced aimed at keeping KiwiSaver contributions out of any total remuneration package calculations.

Comment: Changes, changes, changes

Change could be the word of the week. The obvious big change this week has been with the government.

But I sense there is a heap of changes coming for the funds management and advisory industry too. For years we have written about and commented on “consolidation” in the industry – however it has often failed to eventuate. [Read On]

Pure performance for portfolio
Pure Capital’s Pure Bespoke customised portfolio has seen strong performance in October, with client account performance up, ranging from 4% to 10%.

The company’s approach is “the provision of positive investment return streams that are very low or negatively-correlated with specific geographic or asset class benchmarks.”

Pure Capital’s year-to-date average performance across all products was up 26%.

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