News Round Up: February 28

Firms respond to Christchurch earthquake; Value emerging in NZ shares; Winner announced.

Monday, February 28th 2011, 5:01AM

AXA support for quake affected customers
AXA New Zealand has set up a special team to support customers affected by the Christchurch earthquake.

"We'd like to assure our customers that AXA is committed to doing whatever it can to help you recover and ensure that worries about your insurance or investments do not add to your concerns at such a difficult time," said AXA chief executive Ralph Stewart.

Policyholders needing to speak to AXA about making special payment arrangements, replacing lost property documents or to make a claim should speak to their adviser or call 0800 275 292.

AXA said the customer service team will be available 24 hours a day until further notice.

Britannia lays down the giving gauntlet
Britannia Financial Services is donating $5,000 to the Red Cross to help their work in earthquake ravaged Christchurch, and director John Milner has called on other financial firms to match - or better - their donation.

Milner said he was approached by staff who suggested donating $1,000 that had accumulated in the company lotto pool.

Impressed by their generosity, he decided to add to the fund with $4,000 of company cash to make a round $5,000.

Value emerging in NZ shares
One consequence of New Zealand's patchy growth and lagging markets is that comparative value is now emerging, according to Diversified Investment Strategies director Norman Stacey.

"Economic growth is more easily achieved from a lower denominator, and both New Zealand's bond and share markets have been spared the excesses which may be lurking elsewhere," he said.

"Simultaneously, and helpful in the long-run, the quality of New Zealanders' collective investing may be improving. Kiwi's long addition to less productive asset sectors - notably housing - may be on the wane."

Grosvenor attains QFE status
Grosvenor Investment Management has announced it has been granted Qualifying Financial Entity (QFE) status, effective from April 1.

And the winner is. . .
Thanks to all those readers who completed our recent survey. Your feedback is valuable and helps us develop the site further to meet your needs. As promised there was a prize and the lucky winner is Diane Fenn from Auckland.

Congratulations Diane, $150 worth of wine is winging its way up to Auckland.

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