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THE NEW ZEALAND INVESTMENT RESEARCH EXPERTS
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Thursday, March 11, 2010.
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GUEST: Not Logged In
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Below is a list of all articles that have appeared on the FundSource website back to early 2001. Please be aware that you may search by keyword or date using the search function on the bottom right-hand side of the screen.
Member Story
A Simple Guide to
Imputation Credits
30 Aug 2002 14:32.
By FundSource.
We’ve all probably heard dividends
being referred to as ‘fully imputed’ or ‘partially imputed’ but what
does this actually mean? It’s important that investors in managed funds understand
what imputation credits are and their implications. ...more
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Member Story
BT Funds Management
Acquired by Westpac
26 Aug 2002 14:31.
By WestpacTrust.
Westpac has been propelled into the wealth
management major league with the announcement today that Westpac and Principal Financial
Group have reached agreement on Westpac's acquisition of most of the BT Financial Group
for AU$900 million. ...more
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Member Story
Could Tech be back?
26 Aug 2002 12:22.
By FundSource.
For some tech investors, the tears of
three weeks ago have turned to joy, optimism and the only significant gains of the year.
Sure, the three-week surge eases a little pain, but can it last? ...more
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Member Story
The Rise and Fall of
Insurance Bonds
23 Aug 2002 13:41.
By FundSource.
FundSource reports on eleven categories of
insurance bonds in our monthly performance tables but what are they and why aren’t
they capturing market interest? ...more
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Member Story
One MILLION Dollars!
-- How to break the seven figure barrier
21 Aug 2002 13:37.
By FundSource.
We've all seen the 'rah-rah' books about
how millionaires think, what they do and how you too can become a millionaire -- all in a
few easy steps. FundSource has trawled through a variety of sources and compiled a list of
those qualities commonly regarded as being characteristic of a self made millionaire. ...more
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Member Story
NZ Equity – July
Managed Fund Performances
16 Aug 2002 16:11.
By FundSource.
The NZSE40 Gross Index returned –2.55%
for the month but was dethroned as the best performing world sharemarket this month. The
Hong Kong index (the Hang Seng) took that title, falling by only 2.09%, with Australia’s
performance taking third place behind New Zealand, declining 2.70%. ...more
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Member Story
Reserve Bank and US
Federal Reserve Both Stay Hand on Interest Rates
14 Aug 2002 14:16.
By FundSource.
The Reserve Bank today left the Official
Cash Rate unchanged at 5.75 per cent while their US counterparts, The Federal Reserve,
also overnight left their key interest rate at 1.75%. Both commented that their respective
economies will face uncertainty in the short term. ...more
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Member Story
Will the rally hold?
- A Week to Watch
12 Aug 2002 11:48.
By FundSource.
In the US, August has historically been a
period of downtime in the markets, where investors take stock and recover from previous
reporting seasons. This year however you can bet on August being a whole different story
with investors having plenty to sink their teeth into in the week ahead. ...more
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Member Story
Bonding with Bonds -
An Advanced Discussion
09 Aug 2002 14:25.
By FundSource.
Given the current weakness in Equity
markets, investors have increasingly turned to other asset classes such as fixed interest
and mortgages. Bonds in particular have recently offered a safe haven to disaffected
equity market investors. But how well do we understand this ‘safe haven’? ...more
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Member Story
Are Stocks now Cheap?
and other Important Questions
09 Aug 2002 09:21.
By FundSource.
Little more than a week ago it seemed as
if -- finally! -- the worst was behind us. Then the selling started again. Instead of
rejoicing over the three days of gains on the US markets, investors are wondering how soon
it will be before they give back all the gains. ...more
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Member Story
Is the US heading for
the Dreaded Double Dip Recession?
05 Aug 2002 12:34.
By FundSource.
The debate has started to heat up - market
strategists, economists and policymakers are debating in earnest the current sizzling
issue: One recession or two? However with no meaningful data in the coming week, there
will be no new fodder for the argument. It'll be a week to just chill out and let cooler
heads take over. ...more
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Member Story
Is the Sun Setting on
NZ Equities?
02 Aug 2002 09:52.
By FundSource.
With relatively aggressive tightening of
monetary policy compared to recent international standards and overall strengthening in
the New Zealand Dollar, evidence heavily suggests that the New Zealand economy will slow
over the near term. ...more
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Member Story
June 2002 Quarter
posts lowest ever recorded Net Funds Flow
31 Jul 2002 10:52.
By FundSource.
FundSource produces a quarterly survey
that measures industry trends and the market composition. Below is a summary of some of
the most interesting results from the June 2002 quarter.<A
HREF="EmailToFriend.asp?NewsID=365"><IMG SRC="gfx/email.gif"
WIDTH=100 HEIGHT=25 ALT="Email" BORDER="0"
align="right"></A> ...more
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Member Story
Making Volatility
Work for you with Dollar Cost Averaging
25 Jul 2002 15:27.
By FundSource.
With the turbulence currently dominating
in international equities and the economic outlook still looking favourably towards a
recovery, the expectation is that the markets will recover once the spate of accounting
scandals recedes. ...more
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Member Story
How to Avoid the
Worst Mistakes Investors Make - Part Two
24 Jul 2002 13:51.
By FundSource.
Investing is about taking risks, and when
you do that, you’re entitled to expect a return that’s commensurate with the
level of risk you take. But if you’re not careful, your own mistakes can prevent you
from achieving the return that should be yours. This article forms the second part of a
two-part series. ...more
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Member Story
This Year's Top 20
Performing Managed Funds
22 Jul 2002 17:13.
By FundSource.
FundSource details the top performing
managed funds for the first six months of this year. As anticipated, the majority of top
performing funds come from capital stable investments.<A
HREF="EmailToFriend.asp?NewsID=365"><IMG SRC="gfx/email.gif"
WIDTH=100 HEIGHT=25 ALT="Email" BORDER="0"
align="right"></A> ...more
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Member Story
Top Performing Funds
- NZ Equity June 2002
17 Jul 2002 17:27.
By FundSource.
The New Zealand equity market fell over
June and NZ equity managed fund performances went with it. However, the New Zealand Stock
Exchange has performed positively so far this year when the major world markets have all
performed negatively. ...more
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OM-IP Share Series
17 Jul 2002 17:21.
By FundSource.
Readers should note that the returns
posted for the OM-IP Series on the FundSource (FS) website have been incorrect since
January 31, 2002. The error was the result of data omission in the FS database and is
unique to the OM-IP Series. ...more
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Member Story
How to Avoid the
Worst Mistakes Investors Make
16 Jul 2002 10:18.
By FundSource.
Investing is about taking risks, and when
you do that, you’re entitled to expect a return that’s commensurate with the
level of risk you take. But if you’re not careful, your own mistakes can prevent you
from achieving the return that should be yours. ...more
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Member Story
The Current Bear
Market -- How bad is it?
09 Jul 2002 12:42.
By FundSource.
Just how bad is this bear market in the US
and world market? It is already about 27 months long and it seems like it's been going on
forever. It seems really long and horrible. Is this normal for a bear market? ...more
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Member Story
Small Companies
– A Time to Invest?
04 Jul 2002 11:58.
By FundSource.
Similar to emerging markets, small
companies are well positioned to leverage of an economic recovery. When the volatility of
an economy increases, liquidity narrows until the economy stabilises and liquidity
increases again. ...more
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Member Story
Are Bonds Still A
Good Investment?
03 Jul 2002 17:31.
By FundSource.
As hopefully most readers of this website
know, bond prices move in the opposite direction of interest rates. When rates fall, older
bonds with their higher payments are worth more than new bonds. ...more
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Member Story
FundSource Tip:
Investing even on a small income
02 Jul 2002 09:56.
By FundSource.
Glad you're not in the international stock
market? It's hard to blame you. The market's bungee-like plunges are testing the nerves of
even the most experienced investors. ...more
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Member Story
NZ Equity Fund Top
Performers - May 2002
27 Jun 2002 16:30.
By FundSource.
FundSource reports on the NZ active equity
fund performances and the substantial effect large caps performances have had on the index
return. As NZ equity fund managers increasingly look to Australia to increase the breadth
and scope of their investable pool, comparing performances both against the benchmark and
their peers can be misleading, due to different benchmarks used internally to externally.
...more
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Member Story
Property Continues to
Shine
26 Jun 2002 17:19.
By Statistics New Zealand.
Recent figures released by Statistics New
Zealand show the number of new dwellings continues to increase. The building consents
issued release contains details of the number, value and region of both residential and
non-residential building consents by building type. ...more
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Member Story
Wary Investors Flock
to Hedge Funds Worldwide
24 Jun 2002 14:47.
By FundSource.
The world's appetite for hedge funds
continues to grow as rich investors seek refuge from the reeling stock market. Hedge fund
assets grew by 34 percent last year, or NZ$300 billion, and the industry could reach the
NZ$2 trillion mark by 2004, new studies indicate. ...more
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Member Story
Managed Fund Top
Performers - International Equity - May 2002
21 Jun 2002 09:25.
By FundSource.
The economic data out of the US has been
on the weaker side of expectations, leading to both a negative impact on the equity
market, and a subsequent rally in the bond market. With the slower pace of the recovery,
the consensus for an interest rate hike has been shifted back to November, with the growth
forecast for 2002 also undergoing a downward revision. ...more
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Member Story
World Fund Managers
Give US the Thumbs Down
19 Jun 2002 17:50.
By FundSource.
The world's fund managers may see market
conditions improving, but when it comes to U.S. stocks, they couldn't be much more
pessimistic, a new survey shows. According to Merrill Lynch's latest monthly survey
released on Tuesday, 60 percent of the world's fund managers say U.S. stocks are the most
expensive in the world. ...more
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Member Story
Investment Strategies
- "Top Down" and "Bottom Up" Investing
17 Jun 2002 14:53.
By FundSource.
You may have heard a lot about a
"bottom-up" or "top-down" approach to investing. But can you explain
the differences between the two? These two philosophies -- "bottom up" and
"top down" -- are two very distinct and fundamentally very different
philosophies for choosing investments with the best return potential. ...more
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Member Story
MER's and other Fund
Expenses
14 Jun 2002 11:07.
By FundSource.
If a novice investor were to make a
decision of which funds to invest in based purely on the cost of investing, then chances
are they would invest all their money in index funds. Why? Because index funds have the
lowest expense ratios over the range of investment products available… ...more
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Member Story
The Waiting Game -
Tips for Riding out Volatility
12 Jun 2002 10:47.
By BT Funds Management.
International sharemarket returns have
dissapointed investors for nearly two years. How should investors approach these tough
times? Here are some tips for riding out the volatility. ...more
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Member Story
Early retirement: Not
so Unthinkable
10 Jun 2002 16:45.
By FundSource.
Let's face it. Your recent international
equity portfolio is toast and there's no golden parachute in sight. Still, you dream of
retiring early -- a goal that seemed feasible during the bull market stampede. However the
mercurial market makes it harder to bid adieu to work when you want. But it's not
impossible. ...more
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Member Story
Economic Growth,
Inflation and Bond Performances
07 Jun 2002 13:44.
By FundSource.
While most of you probably didn’t
bother to sit through the entire presentation of this year’s budget, it does have
wider implications for the New Zealand economy and the finance industry. ...more
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Member Story
The Emergency Stash -
Where Should I Invest it?
05 Jun 2002 10:33.
By FundSource.
Consider this hypothetical question: After
a family member passed away recently I was left about $30,000 from their life insurance
policy. I am retired and have enough for day-to-day expenses, but I may need access to the
$30,000 for emergencies. What is the best way for me to invest this money? ...more
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Member Story
International Equity
and the Global Upturn – Where is the Major Driver of Growth?
31 May 2002 12:05.
By FundSource.
The US is expected to lead the global
recovery, but recent indicators are on the softer side of expectations. With concerns
remaining over the sustainability of a US-lead recovery, could Europe provide a source of
global growth? Or will US businesses drive growth with relatively high levels of
investment? FundSource looks at potential of both countries to drive the world upturn…
...more
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Member Story
What's holding back
the American economy?
29 May 2002 09:59.
By FundSource.
If you believe the statistics, the US
economy in this year's first three months grew at a rather breathless annual rate of 5.6
per cent. But if that's really the case, why is the stock market not more visibly
vigorous? ...more
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Member Story
Vital Lessons from
the bear market
28 May 2002 11:45.
By FundSource.
Ahhh, 1999. A great year for your
international equity portfolio. But thanks to the bear market, all of those lovely gains
have been wiped out. Gone. ...more
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Member Story
International Fixed
Interest Moves to Increase Returns
24 May 2002 16:25.
By FundSource.
In the past eighteen months a number of
investment managers have changed their international bond benchmark from the Salomon Smith
Barney World Government Bond Index to the Lehman Brothers’ Global Aggregate Index.
...more
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Member Story
Don't Have an
Investment Plan? Start Here...
22 May 2002 12:05.
By FundSource.
Some people think a really good investment
plan is complex and difficult. But we think a really good plan is one that you can
understand, and one you will use. ...more
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Member Story
Where to Invest
$100,000 -- risk free!
15 May 2002 14:20.
By FundSource.
It's not often we get to speak in
absolutes within this website. Answers to investing matters are rarely this or that, black
or white. They're typically somewhere in between -- somewhere within a shade of gray. ...more
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Member Story
Business Confidence
and Portfolio Returns
10 May 2002 12:20.
By FundSource.
Domestically, business confidence has
remained relatively robust. What are the implications of this on the recovery and an
investor’s portfolio? ...more
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Member Story
Your Best Investment
Weapon for a Rocky Market
10 May 2002 12:01.
By FundSource.
The sharemarket has become a minefield.
Off in one direction, telecoms are struggling. Look the other way and the Dow Jones is
battling to stay above 10,000. Add Enronitis warnings to the mix and investing is as
dangerous as hand-to-hand combat. ...more
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Member Story
Managing the Most
Important Risks of Investing #2
29 Apr 2002 11:21.
By FundSource.
This article is the second in a <A
href="http://www.fundsource.co.nz/ShowNewsArticle.asp?NewsID=321"> two-part
series</A> that looks at the different risks involved in investing and how you, the
investor, may learn to better manage these risks. ...more
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Westpac Purchases
Rothschild Australia
24 Apr 2002 10:56.
By FundSource.
Westpac Banking Corporation and Rothschild
Australia Asset Management today announced that they had reached agreement on the terms
for combining their funds management businesses to form a new orgainsation. ...more
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Member Story
How to Manage the
Most Important Risks of Investing
22 Apr 2002 18:18.
By FundSource.
So many people invest, yet so few
understand how investing really works. Let’s uncover the secret: Investing is simply
finding a way to get paid for taking calculated risks. ...more
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Member Story
International Equity
Managed Fund March Performances
19 Apr 2002 16:16.
By FundSource.
Stronger-than-expected activity and survey
data has lead to a sharp upward revision in the expectations for the US economy. This has
flowed through to prospects for global growth. ...more
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Member Story
Five Vital Tips for
every Personal Investor
17 Apr 2002 10:21.
By FundSource.
If you are a serious investor, these are
the five most important things that should occupy your time and attention. If you master
these areas, you will be far ahead of most of your competition. ...more
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Member Story
Big Week for
International Equity Investors
15 Apr 2002 15:04.
By FundSource.
Investors with money in US shares or
American share funds will face the busiest week of the earnings season starting this week,
with some of the biggest and most influential companies reporting on how they performed in
the latest quarter and what they expect for the current one. ...more
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Member Story
Raising the Roof --
Property Sector Shines
12 Apr 2002 15:49.
By FundSource.
With increasing signs of recovery in the
global economy, we have seen a sharp upturn in domestic housing market activity. In
particular, while January is usually a slow month for housing sales as people return from
the holiday season, house sales recorded a 41% increase over the month while only two
months of 2001 reached higher sales. ...more
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Member Story
Retail Shares
Continue to Soar as Retail Sales Increase 1.8 Percent
10 Apr 2002 16:22.
By Statistics New Zealand.
Seasonally adjusted retail sales increased
1.8 percent in February 2002, compared with January 2002, according to Statistics New
Zealand. Seasonally adjusted sales for the core retailing group (which excludes the motor
vehicle retailing and services storetypes) increased by 1.2 percent. ...more
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Member Story
To Bond or Not to
Bond
08 Apr 2002 15:26.
By FundSource.
A pencil is the only prop needed in a
classic method for teaching investors about bonds. The teacher holds the pencil
horizontally, with two fingers in the middle so the pencil's ends can move up and down
like a teeter-totter. When the pencil eraser goes up, the pencil point goes down, and vice
versa. That's all there is to it. ...more
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Member Story
NZ Dollar
Fluctuations -- Investor Implications
05 Apr 2002 12:28.
By FundSource.
Although investing offshore can expand the
opportunities for investment to areas not available here in New Zealand, it also carries
the additional risk of exchange rate movements adversely affecting potential return. ...more
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Member Story
How to identify a good
active manager
03 Apr 2002 10:47.
By FundSource.
Growth managers do better in bull markets
but given enough time value managers will come into their own. That’s the
conventional wisdom and there is some truth in it. ...more
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Member Story
FundSource Investor
Tip -- Investing Catch-up Strategies
27 Mar 2002 14:52.
By FundSource.
So you're 50 and have not yet started to
save for retirement. You want to begin now but are worried it's too late. Is it too late
-- and, if not, how do you start and how much do you need to save? FundSource looks at
three simple steps in playing catch-up on your investing. ...more
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Hedge Funds --
Unravelling the Complexity
22 Mar 2002 15:34.
By FundSource.
The number of hedge funds on offer has
increased by 20% p.a. over the last 8 years prompting many investors to take a more
in-depth look at hedge funds. In response to this, and with Tower Managed Funds having
just released their new hedge fund -- Advantage -- it is appropriate that FundSource
provides an insight into what can be a very complex investment vehicle. ...more
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Member Story
NZ Official Cash Rate
raised, US Unchanged -- Investor Implications
20 Mar 2002 11:24.
By FundSource.
Bottom-line The RBNZ surprised markets and
analysts by raising the OCR by 25 bps to 5.0% at their <I>March MPS </I>- both
had generally anticipated that the RBNZ would look to raise interest rates at the time of
their <I>May MPS </I> ...more
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Member Story
Poor Performance and
When to Dump a Fund…
18 Mar 2002 17:15.
By FundSource.
The past two years has seen some quite
hard losses felt on investors portfolios, with the 'tech-wreck', a world economic
slow-down, problematic emerging markets, a sick Japanese economy and to a lesser extent
the effects of September 11th. This may have left many investors wondering what to do with
their poor performing funds -- dump them and take the losses or hold on and at least break
even...? ...more
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Member Story
Land of the Setting
Sun? - Managed Funds in JAPAN
08 Mar 2002 14:12.
By FundSource.
New Zealanders currently have many
millions of dollars invested into Japan via international (regional) equity unit trusts.
Should they? Well, to be honest, it doesn't take a brain surgeon to realise that Japan is
a basketcase economy. FundSource takes a look into the Japanese economy and then focuses
on those New Zealand-based funds invested there. ...more
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Member Story
New Zealand Managed
Funds Claw back to $41 Billion
08 Mar 2002 14:09.
By FundSource.
FundSource has recently completed the
quarterly Total Funds Under Management (TFUM) report which outlines aggregate funds under
New Zealand management. The report gives a good indication of how total funds are split
across managers, asset class and fund classification. ...more
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Member Story
Looking for High
Returns through Contributory Mortgages?
01 Mar 2002 15:00.
By FundSource.
"As interest rates fall, people who
rely on interest for income may be attracted to propositions promising high returns,"
Commission Chairman Jane Diplock says. "This may expose them to high risks which they
may not be well placed to bear." ...more
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Member Story
FundSource Tips for
"Playing it safe"
20 Feb 2002 13:01.
By FundSource.
So you have just retired -- or are about
to -- and have a rather healthy nest egg in which to invest. You are not particularly keen
on a risk, but know that your term deposit account just doesn't cut it in terms of real
return. What do you do? ...more
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Member Story
Smarter Than the
Average Bear
18 Feb 2002 10:41.
By FundSource.
Global equity markets have experienced a
rather depressing downturn in recent times. Smart investors, however, ignore the short
term negativity and bad press that abounds at times like this and instead concentrate on
the significant value that ‘bear markets’ offer. ...more
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Member Story
A Vital Investing
Lesson for all Investors...
13 Feb 2002 14:10.
By FundSource.
Perhaps one of the best and
easy-to-understand investing lessons FundSource has seen is found within the investment
book "Fortune Strategy - Investment Planning for the Investment Age". ...more
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Member Story
FundSource Economic
Update - Week ending 13th February 2002
12 Feb 2002 16:52.
By FundSource.
The strength of retail sales over the
December quarter, together with recent release of stronger-than expected employment data
and signs of a recovery in housing market activity, reinforces the prospects for a robust
December quarter GDP outturn in excess of 1.0% qoq. ...more
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Member Story
Smart Investing --
Consider your time horizon!
11 Feb 2002 16:53.
By FundSource.
Considering your time horizon should be an
integral part of your investment strategy. As an example we have used the following
hypothetical situation to illustrate this fact. ...more
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Member Story
A Personal Investor
Guide to Asset Allocation
08 Feb 2002 13:39.
By FundSource.
What should your investment mix be?
FundSource provides a guide to allocating your investments into domestic and international
equities, fixed interest, cash and property. ...more
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Member Story
New Zealand Sees
Growth in Employment and Wage Rates (but only Marginally)
05 Feb 2002 17:31.
By Statistics New Zealand.
Quarterly Employment Survey (QES) figures
for November 2001, released today by Statistics New Zealand, show seasonal growth in
employment, paid hours and gross earnings. The Labour Cost Index (LCI) for the December
2001 quarter, also released today, shows slightly higher annual growth in wage rates, well
down on pundits expectations. ...more
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Member Story
US Economy looks to
forge ahead
05 Feb 2002 11:23.
By FundSource.
A vast amount of economic information
released in the US last week confirmed many economists' view that a pick-up in economic
activity is underway. ...more
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Member Story
Investing Tips for
the New Year
01 Feb 2002 10:00.
By FundSource.
FundSource has collated five New Year
resolutions from experts around the world to share with you in order to better improve
your investing and personal finance. ...more
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Member Story
The Myth of Market
Timing.
23 Jan 2002 16:31.
By FundSource.
The best way to gain sky-high returns from
investing is to time your way into and out of markets, and to buy at the bottom, and sell
at the top. Unfortunately, it’s also the most difficult and least reliable strategy
for investors looking to reliably build wealth. ...more
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Member Story
2002 - The Year
Ahead...
17 Jan 2002 10:48.
By FundSource.
With the passing of the psychological
barrier of a New Year it seems almost mandatory for economic commentators to once again
gaze into the crystal ball and predict the year ahead. Let FundSource let you in on a
little secret - truth is, no one has yet found that magical crystal ball… ...more
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Member Story
Thinking About
Investing In Bonds?
14 Jan 2002 08:41.
By FundSource.
Fixed interest investments, generally due
to their lower risk and volatility versus equity investments, have been very popular
during recent turbulent markets. ...more
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Member Story
2001 - A Year in
Review
04 Jan 2002 14:30.
By FundSource.
With 2001 now drawn to an end, many
investors will be looking back with a forlorn sigh. It certainly has been a year to
remember or more probably, a year to forget.. ...more
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Member Story
A Tale of Two
Portfolios.
18 Dec 2001 12:01.
By FundSource.
No-one deliberately chooses to invest when
markets are at a short-term high, but attempting to pick the ‘perfect’ entry
time carries dangers of its own: the dangers of delay. ...more
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Member Story
World Crises, Market
Timing and Extraordinary Returns
07 Dec 2001 11:17.
By FundSource.
Stock markets around the world are
vulnerable to crisis events. Over the last 50 years there have been numerous shocks, which
have unexpectedly impacted on major stock market indices. ...more
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Member Story
Understand Fund
Performance
05 Dec 2001 15:59.
By FundSource.
Be careful when you look at a fund's track
record. It doesn't mean you'll earn good future returns. ...more
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Member Story
GST Charge Imposed on
Fund Management Fees.
16 Nov 2001 09:55.
By FundSource.
Negotiations between the IRD and the funds
management industry has resulted in 10% of unit trust and group investment fund (GIF)
management fees being liable for Goods and Services Tax (GST). However, superannuation
funds remain exempt from being charged GST. ...more
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Member Story
Official Interest
Rate drops to 4.75% - Implications for Investors
14 Nov 2001 11:04.
By FundSource.
Conducive to widespread anticipation
throughout October, including <A
href="http://www.fundsource.co.nz/ShowNewsArticle.asp?NewsID=242"> reports by
FundSource,</A> the Reserve Bank today cut the Official Cash Rate by half a per cent
from 5.25 per cent to 4.75 per cent. ...more
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Member Story
US interest rate cuts
- Why Should New Zealanders care?
04 Oct 2001 16:35.
By FundSource.
Earlier this week the US Federal Reserve
(the ‘Fed’) announced it was cutting official interest rates by half a percent.
Two questions spring to mind over this announcement. Firstly, why have they done this? And
secondly, why should we in New Zealand care? ...more
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Member Story
RESEARCH ALERT - AMP
loses another NZ Equity Manager
04 Oct 2001 16:31.
By FundSource.
KEY EVENT: The senior portfolio manager at
AMP Henderson, Craig Brown, has left. This has occurred only four months after Stephen
Walker, the former Head of NZ Equities, also left. ...more
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Member Story
Tourist numbers
positive for year to August but where to now?
26 Sep 2001 16:36.
By FundSource - Statistics
New Zealand.
Statistics New Zealand has reported very
positive figures for the tourism industry in the year to August. They are undoubtedly
destined however to be overshadowed by negative sentiment surrounding events of the
previous two weeks. ...more
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Member Story
The Advantages of
Managed Funds
14 Sep 2001 12:50.
By FundSource.
The purpose of managed investments is to
enable individual investors to collectively pool their funds with other investors. The
features and benefits of managed funds are summarised in the following diagram. ...more
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Member Story
Initial Fund Market
Reaction to US Tragedy
13 Sep 2001 09:43.
By FundSource.
With the huge initial shock starting to
sink in, people are now looking with intense interest at the flow-on effects of such an
attack. ...more
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Member Story
Total Funds Under
Management
31 Aug 2001 16:20.
By FundSource.
How much is invested in New Zealand based
managed funds and where is it invested? ...more
|
Member Story
Another Dose of
Monetary Medicine
27 Aug 2001 15:30.
By FundSource.
On Wednesday, 22 August the US Federal
Reserve’s (Fed) policymakers lowered the US benchmark interest rate for the seventh
consecutive time this year. The cut of 0.25% to 3.5% brings the interest rate to the
lowest level since April 1994. Since the beginning of the year, the Fed has reduced its
target rate by 3%. These continual rate cuts have represented, at the very least,
insurance against the current US slowdown worsening. ...more
|
Member Story
Redemption Options
24 Aug 2001 10:02.
By FundSource.
Withdrawing or redeeming units from a unit
trust – what are the options for investors and tax implications? ...more
|
Member Story
20 Years of the
Personal Computer
20 Aug 2001 11:13.
By FundSource.
None of us thought it had the power to
restructure the entire computing industry and economy.<br> <i>Intel Chairman,
Andrew Grove, on the PC.</i> ...more
|
Member Story
Market Indices and
Their Performances
17 Aug 2001 15:36.
By FundSource.
Investors will routinely hear in the news
of the rise and fall of sharemarket based indices. What are these indices and why do they
exist? ...more
|
Member Story
Building Its Way to
Recovery
13 Aug 2001 14:42.
By FundSource.
Australian building approvals unexpectedly
rose 3% in June, following a record 27.4% surge in May. In addition to the rise in
building approvals and home loans recorded in May, approvals for financing to build or buy
homes increased in June for a fourth month. This recent strength in the housing industry
is expected to fuel economic growth, with positive flow-on effects to companies in the
building sector and related industries. ...more
|
Member Story
Risks from Foreign
Currency Exposure
10 Aug 2001 14:37.
By FundSource.
As New Zealand investors have captured the
notion of diversification, many have realised the benefits of investing offshore. The much
larger international investment arena has more breadth and scope, allowing investment
opportunities that do not exist in New Zealand. ...more
|
Member Story
Japan’s Sweeping
Reforms
06 Aug 2001 15:22.
By FundSource.
Last week the Liberal Democratic Party
(LDP) swept to victory in Japan’s national elections and retained its Upper House
majority. The result marked one of the most dramatic turnarounds in recent Japanese
political history, coming just three months after the popularity of the LDP was at
historic lows under the former Prime Minister, Yoshiro Mori. ...more
|
Member Story
Comparative
Performance Returns
03 Aug 2001 10:44.
By FundSource.
The Returns by Fund Legal Types and
Sectors table featured at the end of this article compares the average annual performance
for each sector by legal fund type. ...more
|
Member Story
Markets Update - July
2001
31 Jul 2001 19:04.
By FundSource.
<i>Life consists not in holding good
cards but in playing those you hold well – Josh
Billings</i><br><br> After a difficult 12 months, most of the world’s
major equity markets began to return positive numbers over the quarter to June 2001. ...more
|
Member Story
Greenspan’s
Cautionary Tale
23 Jul 2001 08:38.
By NZ Funds.
On Wednesday, the Chairman of the US
Federal Reserve (Fed), Alan Greenspan, gave his semi-annual state-of-the-economy testimony
to Congress. He expressed hope that the Fed's rate reductions, coupled with falling energy
costs and tax-cuts will bolster economic growth in the coming months. However, he stressed
that the US economy still hasn't emerged from its year-long slump and it will continue to
face uncertainties in the months ahead. ...more
|
Member Story
Diversified Balanced
Fund Performances
20 Jul 2001 13:33.
By FundSource.
FundSource has just completed the monthly
update of its database of retail managed funds performance. Each month, FundSource updates
the monthly returns for more than 600 funds. The performance of a fund is due to a number
of reasons including the sector the fund invests in, the investments selected and the
costs incurred in making those investments. ...more
|
Member Story
Company Takeovers
Code in Force
17 Jul 2001 18:38.
By FundSource.
New Zealand’s new Takeovers Code went
live on 1 July 2001. Under the Code, the fundamental rule is that shareholders and Code
companies cannot increase their shareholding to more than 20% of voting control in a Code
company, without complying with the Code. There are no restrictions below the 20%
threshold. ...more
|
Member Story
Types of Managed Fund
Costs
16 Jul 2001 17:42.
By FundSource.
Fund costs typically comprise a
combination of one or all of the following: entry fees, trail commissions, plan fees,
annual management fees and exit fees. ...more
|
Member Story
Review of the
Australian Financial Year
09 Jul 2001 16:55.
By FundSource.
30 June marked the end of the second
quarter 2001 and the end of the financial year for Australian markets. The financial year
started with a very defensive bias as signs of an economic slowdown emerged in the US,
Australia, Asia and Europe. World sharemarkets were influenced largely by these concerns
about the global growth outlook, but repeated interest rate cuts in the US and Australia
to stimulate growth injected a burst of confidence into the market. ...more
|
Member Story
What does the Future
Hold for Insurance Bonds?
06 Jul 2001 14:26.
By FundSource.
Insurance bonds have a relatively long
financial market history, having been around for many years in a number of different
forms. Initially packaged and sold in non-market linked structures, more recently they
have been made available in single premium market linked structures. Over time insurance
bonds have moved in and out of favour, often as tax rules have changed. ...more
|
Member Story
Why Women Need to Plan
- Steps to Financial Freedom
02 Jul 2001 13:30.
By FundSource.
Ninety per cent of all women, either
through divorce, widowhood, or because they have never married, will be in charge of their
own finances at some point in their lives. If you haven’t thought much about the need
to plan your future finances – linking present decisions with what will be needed
tomorrow – you might wish to give serious consideration to the importance of this
subject. ...more
|
Member Story
Chasing Returns Can
Leave Investors Worse Off
29 Jun 2001 13:03.
By FundSource.
One of the key benefits of a disciplined
investment plan is that it will stop the natural tendency to chase returns. Unfortunately,
human nature means that most investors will tend to make their investment decision on the
basis of past returns, and therefore invest in those funds or shares which have performed
the best over the past year or two. This observation is not just isolated to New Zealand -
the same pattern can be seen in arguably the most sophisticated financial market, the
United States. ...more
|
Member Story
Company Restructuring
25 Jun 2001 15:47.
By FundSource.
Recently, a number of companies have been
restructuring in New Zealand and Australia. Restructuring an organisation often leads to
it being run more effectively, hence realising the intrinsic value lying dormant in the
company. ...more
|
Member Story
A Review of
International Equity Funds
22 Jun 2001 09:21.
By FundSource.
International equity funds are those funds
that invest in offshore equity markets. International equities refer to stocks or shares
of companies listed on stock exchanges domiciled in a country other than New Zealand. ...more
|
Member Story
How to Qualitatively
Rate Fund Managers
18 Jun 2001 12:48.
By FundSource.
A great deal has been said and written
about qualitative and quantitative fund manager research and ratings recently. Below we
detail the methodology and logic behind FundSource’s qualitative manager and fund
evaluation process. This process has developed and been applied over the last 18 years to
New Zealand and international managers. The outcomes are available to FundSource research
clients. ...more
|
Member Story
Mega Merger Saves
‘New Economy’ Company from Tech Crash
14 Jun 2001 14:11.
By FundSource.
During the technology boom of the last
1990’s, share prices of ‘new economy’ companies, such as the ‘dot.com’s’,
rocketed as they were perceived by investors to have highly attractive long-term business
models. During this time Internet companies such as Amazon.com, as well as non-internet
companies such as Starbucks, were investing significant amounts into their Internet
business infrastructure. ...more
|
Member Story
Update on Australian
Economy
11 Jun 2001 09:34.
By FundSource.
<li>Reserve Bank of Australia Holds
Interest Rates</li><br> <li>Higher than Expected GDP Figure
Surprises</li><br> ...more
|
Member Story
DIY or Leave it to
the Professionals?
08 Jun 2001 15:44.
By FundSource.
As a "Do it Yourself" nation,
many investors prefer to invest direct rather than use managed funds. They will point out
that investors in managed funds have experienced months or even quarters when the manager
has provided a return below the market. ...more
|
Member Story
RESEARCH ALERT: 1
June 2001
05 Jun 2001 12:59.
By FundSource.
Update on AMP Henderson’s NZ Equity
Group<br> (Follow-up to Research Alert, 9 May 2001) ...more
|
Member Story
Demutualisation or
Not? When, is the Question
01 Jun 2001 09:53.
By FundSource.
There is an upheaval affecting the world’s
central capital markets - demutualisation. Although merger negotiations with the
Australian Stock Exchange (ASX) failed a few months ago, the New Zealand Stock Exchange
(NZSE) is still considering demutualisation. A Government select committee has been
recently hearing submissions on the NZSE Restructuring Bill, which, if approved, would
allow the exchange to take the first steps towards joining this growing global trend. ...more
|
Member Story
MSCI Adjusts Its Goal
Posts
28 May 2001 11:39.
By FundSource.
On Saturday, 19 May, in a move that
promises to send billions of dollars flowing into and out of global stock markets, Morgan
Stanley Capital International (MSCI) announced the full details of the major restructuring
of its global equity indices. ...more
|
Member Story
Larger Universe for
New Zealand Equity Funds?
25 May 2001 16:31.
By FundSource.
Over the last few years there has been an
increasing interest in the Australian equity market from New Zealand fund managers. Why
has there been this seemingly sudden rush over the Tasman and is it benefiting the average
New Zealand investor? ...more
|
Member Story
A Time to Buy and A
Time to Sell
21 May 2001 12:49.
By FundSource.
Buy low and sell high. It is an adage
voiced by many an investor and seems to be a rational strategy. But there is more to it
than meets the eye. Timing the market – that is, picking the right time to buy and
when to sell - is one of the most difficult goals to achieve successfully. When markets
are especially volatile, it is even more tempting for investors to want to “time the
market”. ...more
|
Member Story
Encouraging
Employment Data Lags Behind
16 May 2001 11:52.
By FundSource.
Employment statistics receive significant
media and political coverage with the general focus on the unemployment rate and
employment growth. However, from the financial markets or macro-economic perspective,
these indicators are considered to be minor statistics. ...more
|
Member Story
Interest Rate Updates
14 May 2001 16:39.
By FundSource.
With the US Federal Reserve and the
Reserve Bank of New Zealand (RBNZ) due to make interest rate decisions this week, here is
a summary of the current key rates. ...more
|
Member Story
RESEARCH ALERT: 9 May
2001 - AMP Loses NZ Equity Manager
10 May 2001 15:20.
By FundSource.
KEY EVENT: The role of Head of New Zealand
equities at AMP Henderson Global Investors NZ has been disestablished. This means that
their NZ equity portfolio manager of the last six years, Stephen Walker will either be
re-deployed or leave AMP Henderson. ...more
|
Member Story
Woolworths Proves its
Worth
09 May 2001 15:17.
By FundSource.
Woolworths has recently made a number of
acquisitions and, because of its good quality management, these acquisitions will add
value. ...more
|
Member Story
Global Economy
Heartened by Surprise US GDP Figures
09 May 2001 15:16.
By FundSource.
The US economy grew at a
stronger-than-expected rate in the first quarter of 2001, boosted by consumer spending.
This suggests that the Federal Reserve’s recent interest rate cuts have helped buoy
consumer spending and reinforces the impression that the US economy may not slip into a
recession. The global reaction to the stronger GDP news was largely positive. ...more
|
Member Story
Managed Funds Vs.
Direct Investments
03 May 2001 15:30.
By FundSource.
In implementing an investment strategy,
everyone faces the same question: Should you invest directly yourself, into shares,
property, bonds and bank bills, or should you invest into a pooled fund which is managed
by a fund manager? ...more
|
Member Story
Earnings
Announcements - Technology Companies
03 May 2001 11:52.
By FundSource.
Continuing with the United States earnings
announcements season, the share price of Intel Corporation jumped last week after its net
profit of $485m in the first quarter beat reduced forecasts. Recent gloomy warnings from
the world’s largest chip maker had depressed expectations to a level so low, that
despite profits being 82% down compared with a year earlier, the markets responded with
relief. ...more
|
Member Story
CPI Results
30 Apr 2001 12:27.
By FundSource.
The prime function of a central bank is to
instil confidence and integrity in the country’s currency. ...more
|
Member Story
Monetary Policy -
Uncovered
30 Apr 2001 12:21.
By FundSource.
Monetary policy is the name given to the
practice of using financial policy instruments to influence monetary conditions, and
affects how easy, difficult or expensive it is to obtain money and credit. ...more
|
Member Story
Surprise US Interest
Rate Cut
19 Apr 2001 16:10.
By IPAC.
The Federal Reserve has surprised US
sharemarkets by slashing the key benchmark interest rate by 0.5%, bringing it down to
4.5%. The action came after an hour-long conference call just weeks before the Fed’s
next meeting and means that the rate is now at its lowest level for six years. ...more
|
Member Story
Good Investment
Opportunities for Equity Portfolios
17 Apr 2001 07:55.
By IPAC.
Last week the turnover on the New Zealand
sharemarket was greatly increased by two large private placements of shares, namely
Independent Newspapers Limited (INL) and United Networks Limited (UNL). The third largest
US utilities company, UtiliCorp United Inc, decided to reduce its holding in UNL, selling
13 million of its UNL shares and freeing NZ$104.5 million of its capital. Craig Heatley,
one of New Zealand's richest men, also sold his 5% INL holding, following a decision to
leave New Zealand for a few years to travel with his family. ...more
|
Member Story
US Consumer
Confidence - March 2001
11 Apr 2001 16:10.
By IPAC.
Is there a recession in the United States?
If there is, no one has told the country's consumers, who are still confidently spending
their incomes. With consumer confidence rising unexpectedly in March for the first time in
six months, US consumers appear more optimistic about the domestic economy and its future
prospects. ...more
|
Member Story
SingTel Buys Cable
& Wireless Optus
06 Apr 2001 13:33.
By IPAC.
Singapore Telecommunications (SingTel) is
set to become the new owner of Australia’s second largest phone company, Cable and
Wireless Optus (CWO). This will make SingTel the second largest telecommunications company
in Asia-Pacific, behind Australia’s Telstra. ...more
|
Jim's Bank - Kiwibank
05 Apr 2001 13:09.
By IPAC.
In February this year, the Government
approved the proposal, drawn up by NZ Post and Deputy Prime Minister, Jim Anderton, for a
publicly owned bank, costing taxpayers at least $80 million in establishment expenses and
capital expenditure. This ‘People’s Bank’ is the most controversial event
in banking since the Bank of New Zealand fiasco in the mid-1980’s. ...more
|
Member Story
MARKET VOLATILITY - A
TEST OF PATIENCE
30 Mar 2001 12:21.
By IPAC.
Volatile markets can test investors’
patience and commitment. Sharp market fluctuations – especially declines – can
be unsettling for anyone, but may be especially unnerving for those who are new to
investing. ...more
|
Member Story
US Federal Reserve
Rate Cut
28 Mar 2001 07:52.
By IPAC.
On March 21 the United States Federal Open
Market Committee (FOMC) cut interest rates by 50 basis points, making it the third 0.5%
cut in lending rates in three months. The key official cash rate now stands at 5%. The
accompanying statement cited falling stocks, a slump in United States (US) manufacturing
and a “weakness in global economic conditions”. An easing bias was maintained,
leaving open the potential for further rate cuts in the medium term. ...more
|
Member Story
RBNZ cuts interest
rates to 6.25%
22 Mar 2001 09:21.
By IPAC.
The Reserve Bank of New Zealand (RBNZ)
surprised the market on 15 March by announcing a 25 basis point cut in interest rates. It
noted that this was a finely balanced decision but, given the current weakness in global
economies, cutting interest rates was a prudent move. ...more
|
Member Story
Investing in
International Small Companies
21 Mar 2001 07:54.
By IPAC.
Wellington Management Company
(Wellington), one of the oldest and largest independent investment management firms in the
United States, recently released an overview of the international small companies
investment environment. ...more
|
Member Story
Exclusion of Japanese
Bonds Adds Value for Investors
20 Mar 2001 08:58.
By IPAC.
In a surprising statement to parliament,
the Japanese Finance Minister announced that Japan’s finances “are very close to
collapsing”. The yen subsequently fell to a 19-month low and bond yields increased by
10 basis points. Despite an apology for the statement from the Finance Minister, the
current state of Japan’s economy and political climate indicate the statement may
have more credence than initially thought. ...more
|
Member Story
Reserve Bank of
Australia Monetary Policy Announcement
14 Mar 2001 06:48.
By IPAC.
The Reserve Bank of Australia (RBA) cut
official interest rates by 25 basis points to 5.50% on Thursday, 7 March. This was in
response to continuing signs of weakness in the domestic economy, concern over the
business outlook and deteriorating prospects for the international economy. ...more
|
Foot and Mouth - The
Economic Disease
12 Mar 2001 07:32.
By IPAC.
An outbreak of Foot and Mouth Disease
(FMD) has brought the British farming industry to its knees and sent ripples of fear
throughout Europe. There are now over 90 confirmed cases of the disease in the UK,
condemning in excess of 80,000 animals to slaughter. In an effort to contain the plague,
mass animal culls are necessary, exports have been barred and livestock movements halted.
...more
|
Member Story
TOKYO MARKET UPDATE
07 Mar 2001 10:50.
By FIDELITY.
The Nikkei 225 fell to a new post-1985 low
last week. Although the TOPIX was also under heavy pressure it closed well above the
trough last seen on October 15, 1998. ...more
|
Member Story
Turkish Leaders’
Tiff Precipitates Lira Devaluation
05 Mar 2001 07:33.
By IPAC.
The Turkish lira plunged 28% last Thursday
after political upheaval furthered the liquidity crisis in Turkey’s currency. Prime
Minister, Bulent Ecevit, declared to journalists that the President, Ahnet Necdet Sezer,
had insulted him at a top level meeting, and warned the incident could lead to
difficulties. Subsequent events forced Turkey to float its currency and overhaul an
ambitious International Monetary Fund (IMF) sponsored financial reform program. The
defunct program marks the 17th straight IMF agreement with Turkey that has collapsed since
1961! ...more
|
Member Story
Baycorp Holdings’
Half Year Result
02 Mar 2001 15:25.
By IPAC.
Baycorp Holdings Ltd (Baycorp), New
Zealand’s top performing stock for the past five years, announced a promising first
half profit, despite being below analysts' expectations. Results released on 21 February
saw profit rising 21% on the strength of its domestic credit information and debt
collection business. The fact that this result was lower than some commentators expected
created a certain amount of disappointment, with the Baycorp stock posting its biggest
one-day drop in five months - a fall of 5.6% to $11.80. ...more
|
Sailing into the Wind
- a Tricky Business
26 Feb 2001 11:29.
By IPAC.
The feeling of abundant wealth in the US
prior to the tech stock crash has been shattered, damaging investor confidence and
prompting consumers to tighten their purse strings. Reluctance to spend is swinging the US
economy into a slowdown cycle, the length and severity of which will have massive
consequences for the global economy. As the hand on the tiller of our economy, the Reserve
Bank (RBNZ) has found itself in the unenviable position of anxiously observing the US,
waiting for a pointer on which way it should steer. ...more
|
Member Story
State Politics
Impacts Australian Economy
23 Feb 2001 16:39.
By IPAC.
The success of Labour in the Queensland
and Western Australian State elections has left commentators speculating over the possible
outcome of the upcoming Federal elections. The impact of Labour’s proposed policies
could have a major influence on a number of key sectors in the Australian economy. ...more
|
Member Story
Global Bond Market
Update
21 Feb 2001 10:42.
By IPAC.
Bond markets finished on a high last year
and rose in the major world markets during January as further evidence emerged that
economic growth was slowing globally. ...more
|
Member Story
Investors Sour Orange
Float
16 Feb 2001 17:18.
By IPAC.
France Telecom has been the first to move
among European Telecom companies in a bid to ease debt, which is rapidly becoming an issue
for European telecommunication companies. ...more
|
Member Story
RBA Cuts Cash Rate by
50 Basis Points
09 Feb 2001 14:36.
By IPAC.
On Wednesday 7th February, the Reserve
Bank of Australia (RBA) cut interest rates from 6.25% to 5.75%. This has been the first
rate reduction since December 1998 ...more
|
Member Story
Alan Greenspan Moves
Fast!
05 Feb 2001 10:07.
By IPAC.
The outlook for the US economy has turned
around completely in the last two months. Up until mid December, the Federal Reserve (Fed)
had stated that inflation posed a greater risk to the economy than the possibility of a
recession. ...more
|
Member Story
Emerging Markets are
they worth the pain?
01 Feb 2001 11:48.
By IPAC.
The emerging markets produced spectacular
returns over the past few years and, with the exception of Russia, Indonesia and possibly
Thailand, the Asian crisis has generally passed. ...more
|
Industry inflows not
hampered by volatile markets
31 Jan 2001 10:44.
By IPAC.
Despite weak sharemarket performances in
the December quarter, Net Funds Flow (NFF) into NZ based retail managed funds this quarter
appears not to have been significantly hampered. The December quarter saw a continuation
of the strong NFF experienced in prior quarters. ...more
|
Member Story
Is Now the Time
"Corporates" will Move to Increase Technology Investments?
26 Jan 2001 17:04.
By IPAC.
December quarter results from the major
names in technology were generally in line with market expectations. This is not
surprising due to the particularly strenuous guidance on earnings given to analysts by
Chief Financial Officers. However, comments on trading conditions remained gloomy, with
the major PC producers Dell, Gateway, Hewlett Packard and Apple indicating prospects for
the coming year will be mixed at best. ...more
|
Member Story
California’s
Electricity Crisis
26 Jan 2001 17:00.
By IPAC.
It is nearly three years since Auckland
experienced its power crisis. At the time commentators noted that a power outage of that
magnitude was unacceptable for the largest city of a developed country. This month
California, the most populated and richest State in the US, is experiencing a power crisis
and this has resulted in “brownouts” (partial power cuts). ...more
|
Member Story
CPI Surprises on the
Upside
19 Jan 2001 16:02.
By IPAC.
The market expected the December Consumer
Price Index (CPI) figure to be 0.9% and was instead surprised by a 1.2% increase for the
quarter. This figure lifts the annual rate of inflation from 3% to 4% - the highest annual
inflation rate since June 1995 and ‘technically’ a breach of the Reserve Bank's
0-3% inflation target. ...more
|
Is the US Headed for
a Recession?
19 Jan 2001 16:00.
By IPAC.
Throughout the 1990’s, the US economy
experienced its longest recorded period of continuous expansion. At some point this
positive growth cycle will come to an end and, based on current projections, a recession
in the first half of 2001 looks possible. (A recession is defined as a period when
economic growth is negative for two consecutive quarters.) ...more
|
Member Story
A Tale of Two
Portfolios
12 Jan 2001 12:12.
By IPAC.
No-one deliberately chooses to invest when
markets are at a short-term high, but attempting to pick the ‘perfect’ entry
time carries dangers of its own: the dangers of delay. ...more
|
Member Story
Bear Markets Not All
Bad
11 Jan 2001 11:53.
By IPAC.
Bear markets, drawn from the imagery of a
bear “clawing the market down”, are never fun. On five occasions since 1972 the
US sharemarket has fallen more than 15%, with an average price decline of 27%. Between
January 1973 and September 1974, US share prices plunged 46%. ...more
|
Member Story
RBNZ Urged To Follow
Fed
05 Jan 2001 10:37.
By IPAC.
Following the surprise rate cut by the US
Federal Reserve (Fed) on Wednesday, local commentators are urging the Reserve Bank of New
Zealand to take similar action. ...more
|
Member Story
Market Themes for 2001
03 Jan 2001 15:14.
By IPAC.
This year's strong market growth led us to
expect a growth deceleration for 2001, yet the decline in market growth has been sharper
than expected. ...more
|
2000 Market Overview
03 Jan 2001 15:13.
By IPAC.
The year 2000 rolled in to a world waiting
with baited breath to see what havoc the “Millennium Bug” would wreak. However,
with the benefit of hindsight, we now know it wasn’t the Y2K Bug, but rather the
technology sector that created chaos throughout 2000. ...more
|
Member Story
Choosing The Best
Investment
27 Dec 2000 17:33.
By IPAC.
Selecting the best investment depends on
your financial goals and general market conditions. For example, a good investment for a
long-term retirement plan may not be the best investment for saving for your children’s
education. In each case, the right investment is a balance of three things: liquidity,
safety and return. ...more
|
2000 Market Overview
22 Dec 2000 00:00.
By IPAC.
The year 2000 rolled in to a world waiting
with baited breath to see what havoc the “Millennium Bug” would wreak. However,
with the benefit of hindsight, we now know it wasn’t the Y2K Bug, but rather the
technology sector that created chaos throughout 2000. ...more
|
Market Themes for 2001
19 Dec 2000 10:06.
By IPAC.
This year's strong market growth led us to
expect a growth deceleration for 2001, yet the decline in market growth has been sharper
than expected. ...more
|
Member Story
Lion Nathan Seeks
Permission to Purchase Montana
04 Dec 2000 15:12.
By IPAC.
Last week's announcement that the Commerce
Commission would consider a bid by Lion Nathan for a further investment in Montana Wines,
opened another chapter in an eventful year for New Zealand’s most successful wine
maker. ...more
|
Member Story
Technology Stock Woes
Continue
30 Nov 2000 16:21.
By IPAC.
Technology stocks took another hammering
last week as the American election fiasco drags on. Analysts continued to downgrade their
earnings numbers, highlighting serious concern over the assumed growth rate of the whole
industry. ...more
|
Member Story
Chain Reaction
29 Nov 2000 15:04.
By IPAC.
Last Friday afternoon, Statistics New
Zealand released an updated GDP series. The calculation of GDP has been changed from a
fixed weight to a chain weighted calculation. ...more
|
Member Story
TUMBLING DOWN - THE
FALL OF THE NZ DOLLAR
24 Nov 2000 15:53.
By The LodeStar Group.
Over the last six months the NZ dollar has
slumped to its lowest value since it was floated in March 1985, hitting a record low at
39c against the US dollar. The New Zealand dollar is not alone in its weakness. As much as
it is a weak Kiwi dollar story, it is also a strong US dollar one. All currencies apart
from the yen fell to new lows against the US dollar and analysts have been scratching
their heads for reasons why. The LodeStar Group outlines some of the explanations analysts
have offered and looks at the consequences for investors. ...more
|
Member Story
What’s Happening
Across the Ditch?
22 Nov 2000 08:50.
By IPAC.
While most economic statistics in
Australia have been affected by the impact of one-off events such as the Olympic Games and
the introduction of GST, there is little doubt that the Australian economy has still
recorded strong underlying economic performance. ...more
|
Member Story
Further Evidence of
Dual Economy
20 Nov 2000 10:12.
By IPAC.
With the help of the low New Zealand
dollar, high commodity prices and strong global growth, New Zealand is experiencing strong
external growth alongside weak domestic growth. This, in effect, creates a dual economy -
the rural sectors going through strong economic growth while growth in metropolitan areas
remain weak. ...more
|
Member Story
Financial Implications
of the Presidential Non-election
13 Nov 2000 10:26.
By IPAC.
Currently it is still unclear who is
destined to be the next president of the United States. Both sides purport to be confident
of victory, though any leads could change with absentee votes and legal challenges. ...more
|
Member Story
Credit Skills Give
Fixed Interest Managers The Edge
07 Nov 2000 16:43.
By IPAC.
The bad old days of double-digit inflation
and seesawing interest rates were good old days for active fixed interest managers.
Volatility in yields offered scope to add value, and effective managers relied heavily on
picking the direction of interest rates. However, dramatic changes in global markets
during the 1990s forced a strategy re-think. ...more
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Member Story
Is the US Growth
Miracle Over?
06 Nov 2000 13:25.
By IPAC.
Suggesting the US economy may be slowing
makes us feel a bit like Chicken Licken, but some official data is indicating just that.
...more
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Member Story
Baycorp Keeps Growing
27 Oct 2000 16:33.
By IPAC.
BayCorp held its 14th AGM yesterday,
reporting for the sixth consecutive year profitability growth above 20%. Over the last
year the company has enjoyed solid performance in all of it’s "Operational
Theatres" (Australia, New Zealand, and Asia). The company also took the opportunity
to offer the launch of new services into the Australian market and comment on its evolving
relationship with Australian partner, Data Advantage. ...more
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Member Story
Know When To Hold Em’,
Know When To Fold Em’
25 Oct 2000 09:21.
By IPAC.
It is common knowledge that since 1998
technology companies have been the driving force of the greatest bull market in history.
The Dow Jones jumped 200% from the end of 1994 to its peak in January and the NASDAQ had
increased 571% when it reached its high in March. However, the Dow Jones is now down 11%
this year and the NASDAQ is down 40% from its March high. ...more
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Member Story
US Presidential
Election – Implications for Financial Markets
24 Oct 2000 14:14.
By IPAC.
On 7 November, around 40% of eligible
voters in the US will effectively elect the new President "of the world". This
person will be seen as the main proponent of advancing the need for democratic governments
- somewhat ironic when only voted in by 40% of eligible voters. ...more
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Member Story
Breaking Up is Hard to
Do
16 Oct 2000 09:03.
By IPAC.
Fletcher Challenge released its much
anticipated break up package on Tuesday to a market eager for positive news. However, the
Commerce Commission has announced it will block the current deal. Whether this spells the
end of the deal or is merely a hiccup, won’t become clear until the Commerce
Commission’s report is released next week. ...more
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Member Story
Back to the Future?
13 Oct 2000 17:27.
By IPAC.
Just as in fashion, where the current
retro theme is a more subtle imitation of the 1970s, the economic impacts of the current
oil shock, stagflation and Israeli/Arab wars are likely to be less severe. ...more
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Member Story
Montana Acquires
Corbans
08 Oct 2000 13:53.
By IPAC.
On September 20 Montana signed a
conditional agreement with DB Group to purchase Corbans Wines for NZ$151 million. ...more
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Member Story
Interest Rates
06 Oct 2000 14:37.
By IPAC.
“While saving, interest is your
friend. While borrowing, interest is your enemy. Learn to hate paying interest and love
earning interest”. ...more
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A Passion for Property
06 Oct 2000 09:25.
By IPAC.
New Zealander’s have long had a love
affair with property, stemming from the desire to own our homes and a belief that
residential property is a good investment that won’t decrease in value. Is investing
in property all it is cut out to be? ...more
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Member Story
LOWER FUTURE RETURNS
FOR INVESTORS
05 Oct 2000 22:23.
By Aon Consulting Limited.
We may be moving from an era of high
returns to low returns. This warning recently came from the Institute of Actuaries in the
UK, which had bad news for people in the UK who are starting to save for retirement. The
same low returns are expected in other parts of the world, including New Zealand. ...more
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Member Story
Risk and Return
04 Oct 2000 15:07.
By IPAC.
How comfortable are you with Risk? ...more
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Member Story
Inflation
04 Oct 2000 15:05.
By IPAC.
Inflation can affect your investment in
many ways. ...more
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Member Story
G7 Pledge’s
Support to The Euro
04 Oct 2000 08:19.
By IPAC.
Last week, the beleaguered Euro hit new
lows versus the US dollar and the Japanese Yen. Since December 1999 it has fallen 16% and
12.5% respectively. ...more
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Member Story
Don’t Put All
Your Eggs In One Basket
03 Oct 2000 22:53.
By The LodeStar Group.
The well known phrase “Don’t put
all your eggs in one basket,” has even more relevance now than it had 15 or more
years ago. ...more
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GDP Declines Over June
Quarter
02 Oct 2000 12:47.
By IPAC.
As expected, economic growth declined over
the June quarter. The decline was –0.7%, which was slightly larger than market
expectations but within the consensus range. ...more
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Member Story
Business Confidence
Back from the Black
19 Sep 2000 13:55.
By National Bank.
After an all-time low in June, the
National Bank (NBNZ) Business Survey has recovered slightly over the last two months. ...more
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Member Story
Crude Oil Prices: Where
to now?
15 Sep 2000 13:31.
By IPAC.
What is the outlook for oil with this
week-end’s Organisation of Petroleum Exporting Countries (OEPC) meeting? ...more
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