NZ market ignores Budget to end day softer
The New Zealand sharemarket largely ignored the Budget to end weaker, which was driven partly by a fall in infrastructure investor Infratil and offshore influences.
The S&P/NZX 50 Index ended down 0.52%, or 65.75 points, at 12,596.50, with 44.7 million shares, worth $141.5m trading hands.
There were 73 rises and 63 falls on the main board.
Salt Funds managing director Matt Goodson said the Budget was seen as a mild positive for the market.
“A lot of the things in the Budget were positive at the margin for the economy, but they were pretty small. In ...MORE»
Financial services industry give KiwiSaver changes a measured welcomeFriday, May 23rd, 9:23AM 1 comment
The financial services industry is welcoming the increase in KiwiSaver contribution rates while expressing some concern about the halving of government contributions and the impact on employers at a tough time for the economy. MORE» |
KiwiSaver contribution rates to increase; Cuts to Govt contributionThursday, May 22nd, 2:06PM
The Government is increasing contribution rates to KiwiSaver, but at the same time reducing, and in some cases, removing the member tax credit. MORE» |
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Advisers need to work to remove small irritants clients experience: Morningstar
Investment advisers should work on removing small irritants to their clients that could have significant detrimental consequences to their businesses, Morningstar’s global head of behavioural insights, Ryan Murphy, told his company’s investment conference in Sydney.
A survey Morningstar conducted of 399 paying clients of investment advisers in the US found that only about 6% had been so disengaged with their advisers that they terminated the relationship.
But Murphy said that doesn’t mean that the remaining 94% of clients were satisfied with the service their advisers were providing.
“Staying with you isn’t the same as being engaged with you,” ...MORE»
Sold sign goes up on ConsiliumMonday, May 19th, 11:30AM 1 comment
FirstCape has agreed to buy Consilium for an undisclosed sum. MORE» |
Another global fixed interest manager comes to townSaturday, May 17th, 1:45PM
New Zealand investors and advisers are about to get access to get another large, global fixed interest manager. MORE» |
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Former Milford portfolio manager joins Alvarium
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KiwiSaver contribution rates to increase; Cuts to Govt contribution
The Government is increasing contribution rates to KiwiSaver, but at the same time reducing, and in some cases, removing the member tax credit. MORE»
