The country’s largest bank reports higher costs and intense competition in the year ended September.
New Zealand's total funds under management, including funds managed for other managers, reached $53.7 billion at the end of March, according to new FundSource data.This was a significant improvement from the same time last year when funds were at rock bot
KiwiSaver funds with a higher allocation to shares and property were the best performing funds in the first quarter of 2010, according to Mercer's KiwiSaver survey.But Mercer New Zealand boss Martin Lewington has warned that with global markets starting t
A fund manager has launched a scathing attack on the draft Code of Professional Conduct for Authorised Financial Advisers, warning that it could stifle free speech if left unchanged.The National Business Review reported last week that the Institute of Fin
David Colvin has been appointed to the newly created position of chief executive of Auckland-based company New Zealand Mint.He was most recently chief executive of ASX-listed technology services company ConnXion Limited based in Sydney and before that he
Effective engagement on regulatory change is vital to the ongoing success of the KiwiSaver scheme, according to industry group Workplace Savings NZ.Commerce Minister Simon Power last week announced changes that will ensure fund managers and trustees of re
Suncorp-owned insurance company Asteron Life has announced it will withdraw from KiwiSaver to focus on its core business and it expects more KiwiSaver exits will follow.Asteron, which has about $33 million of funds under management across 6200 KiwiSaver c
Financial advisers will be given extra time to fully comply with the new regulatory regime, Commerce Minister Simon Power announced tonight.He made the announcement at the Institute of Financial Professionals New Zealand (Infinz) annual awards in Au
Commerce Minister Simon Power has tonight announced changes to KiwiSaver regulation that he says will improve the governance and management of KiwiSaver schemes.The changes, announced at the Institute of Financial Professionals New Zealand(Infinz) a
ING pulled in more money to its KiwiSaver funds than any other manager in the March quarter but its other funds weren't so popular, according to FundSource data.KiwiSaver successING, which includes ANZ and National Bank KiwiSaver funds, experienced a net
