News Round Up: March 7

Nikko finalises Tyndall acquisition; Copper Rock rolls out new fund; Financial markets gain in February.

Monday, March 7th 2011, 7:37AM

Nikko finalises Tyndall acquisition
Nikko AM has announced it has completed its acquisition of Tyndall Investments from Suncorp.

Tyndall Investments managing director Craig Hobart said the combination of a significant domestic Australian and New Zealand investment management company with a dedicated Asian, international asset manager creates a powerful business proposition, boosting the Tyndall operation.

"We will maintain our highly rated investment approaches and portfolio management style and believe that Tyndall's knowledge of the Australian and New Zealand equities and fixed interest products is the perfect complement for Nikko AM's expertise in Asian and emerging market assets," Hobart said.

Copper Rock rolls out new fund
Boutique fund manager Copper Rock Capital Partners has launched a new fund for New Zealand and Australian wholesale investors.

The Copper Rock Global Small Cap Fund was launched in December and has approximately A$120 million in assets under management.

The fund will invest in equity securities of globally-traded small cap companies ranging in size between US$100 million and US$5 billion and is available in New Zealand and Australia through Ambassador Fund Management Services.

Tower Investments sees financial market gains in February
Tower Investments monthly financial market analysis has found that despite the earthquake and turmoil across the Arab states, local markets held up well.

"The New Zealand share market was not able to keep pace with international share markets, but still ended February 1% up on the back of a company reporting season that was optimistic despite the earthquake," said Tower Investments chief Sam Stubbs.

"Global equities advanced 3% and commodities put in 1.3%. Notably, bond markets managed to rally modestly after a negative patch in recent months."

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