Friday 22nd of May 2009

The debate on how our fund managers stack up against those in other countries has certainly seen some polarised views. The one we subscribe to is that the report was a bit harsh, but there is room to improve. There has been another vein of argument bubbling along which has used this report as a lightening rod to diss all fund managers. A final thought is this. A couple of the niche managers, and relatively new players in the market, have gone on record saying the rules and practices of the funds management industry are awful and should be changed. Isn't this a little hypocritical? Why did they want to become fund managers and play in an industry which was so bad? Love to know the answer to that one. This week's Blog on the topic has a number of comments including the responses from several fund managers and industry players. Read them here. Last week I commented on the IFA's decision to name and shame advisers.This week we have had the IFA defending the decision and the Professional Advisers Association distancing itself from what is happening and urging advisers to make a distinction between itself and the IFA. To add a little flavour to the debate our Insurance columnist, Russell Hutchinson has waded in with his opinion. The other big news of the week, which Good Returns was the first to report, is that Sovereign''s managing director Simon Blair is leaving our shores. Details in People. Today's story is a take on investment markets from GAM''s Asia Pacific boss, Helen Ng. Her view, which is explained here, is that equities are still a risk, but don't rule them out. Other investment news this week is an update on tougher rules for the non--bank sector, BNZ entering the market to raise another $150 million and our regular Rates Round Up. The Insurance news section has been busy too, with the Newpark/PIS deal off again. Our story here has views from both camps and they seem to be telling different stories. We have an update on what is happening at AIG Life. The IPO is progressing and it seems the company in New Zealand is going back to the AIA brand. Also this week is our latest monthly column from AXA: Trauma insurance - life insurance for the living Trauma or critical illness cover is one of the life insurance industry's best kept secrets. Have a great weekend. Philip