News

End of an era

Tuesday 21st of September 1999
Direct Funds Management has decided to wind up its actively managed New Zealand equity fund as it has suffered a large number of redemptions and it has been unable to find a new manager for the trust.

Direct Broking bought this fund and others run by Renouf Asset Management late last year soon after Sir Francis Renouf -the man who introduced managed funds to New Zealanders in 1960 - died.<...

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