News Round Up
Thursday 22nd of April 2004
Top performing Australian mortgage
fund now available to NZ investors
Money Managers Ltd has trumped other investment advisory firms by
negotiating exclusive New Zealand access to Australia's best performing
mortage fund.
Money Managers Marketing Director Alasdair Scott today announced the firm
had sealed a deal with LM Investment Management Ltd, giving its clients
exclusive access to the LM Mortgage Income Fund.
The fund requires a minimum investment of A$10,000 with fixed terms from
three to 24 months. Investors can automatically compound their monthly
distributions or pay these into a bank account.
Money Managers will also make LM's Cash Performance Fund available to
clients.
LM's Mortgage Income Fund has been Australia's best performing income fund
over the past four years, according to the latest data from fund researcher
Morningstar. The fund outperformed the Morningstar mortgage sector index
with a 7.77% return over the 12 months to November 2003.
LM's average loan to valuation ratio was 54.7 per cent for the 12 months to
30 September 2003. There has not been a capital loss during the history of
the fund.
The fund invests in first mortgages which meet LM's strict lending criteria.
The fund is spread over commercial, residential, industrial, retail and
vacant land, and is spread in line with the population across Australia's
states.
While some funds have been unable to lend out increasing inflows and have
been forced to hold as much as half their assets in cash, LM's cash assets
have been held steady at 8 per cent for the last two years.
Mr Scott said Money Managers had researched the Australian investment scene
in order to provide clients with greater diversification and protection.
"A Lonsec report on LM says the Mortgage Income Fund should continue to
provide investors with a stable income stream with a low risk of capital
loss," he said.
Extension of closing date for EASYgrow 100
New date: 11 May 2004
Dear adviser
We’ve been able to arrange an extension of the EASYgrow 100 terms. As we’ve been explaining in our weekly emails, if we tried to repeat the terms offered by EASYgrow in a new product, it would currently be impossible. Market conditions have changed and we are unable to secure 100% participation over the same 5 ½ year term. Bearing this in mind, we want to ensure that as many investors as possible can take advantage of this limited offer.
Full details are on the INVEST section of our website: http://www.liontamerprotectedinvestments.com/invest.html
To order investment statements or fact sheets for EASYgrow 100, you can call Sarah McGuinness on our toll free number - 0800 210 450.
If you’d like to get in touch with us, our numbers are:
Media Release
22 April 2004
Enhanced consolidated reporting now available through Leaders Wrap Service
Advisers now have an even easier way to report on their clients’ full financial position with the release of the second phase of the Leaders External Asset Register.
Available exclusively to Leaders registered advisers, the External Asset Register (Register) enables the adviser to record assets held outside of the Leaders menus and immediately view these in client reports.
Phase two adds ability to graphically represent these assets – either as a pie chart of the external assets or as a consolidated pie chart showing both Leaders and non-Leaders investments. The release also enables easier searching and sorting adding a search by asset feature to the existing sort by client area.
The release comes after very positive feedback from advisers on the first phase of the Register and detailed scoping of the new features to ensure they are user friendly and intuitive and provide the added value clients now expect.
Paul Bevin, Chief Executive of TOWER New Zealand’s Investment Businesses, who provide Leaders and its new Asset Register, says the enhanced features will save advisers time in preparing client reports and avoids the need for manual extraction and addition of non-Leaders assets.
“Advisers can add real value for their clients by showing a complete picture of their portfolio within their Leaders report. There is no complicated ‘new’ technology as it is all powered off the Taps Net on-line reporting service that Leaders advisers will already be familiar with.” says Mr Bevin.
Ends
For more information:
Paul Bevin Kerry McNae
Chief Executive Investment Businesses TOWER Portfolio Administration Services
TOWER New Zealand Ph 09 302 9389
Ph 04 495 6901
FPIA CONF
Fidelity Life upgraded to four stars in Morningstar's rating review.
Morningstar Research has announced that Fidelity Life has been upgraded from three to four stars in its recent review of its fund manager ratings.
The star rating reflects underlying fund performance based on average weighted performance over three and five year periods.
A four or five star rating reflects a company's competency in the majority of asset classes and its consistently strong risk-adjusted past returns.
Fidelity Life Company Actuary, John Smith attributes this result to Morningstar's improved methodology, "It is really pleasing that our long-standing outsourcing approach and 'best of breed' selection has paid dividends. We are delighted that Morningstar's improved star rating system provides a subjective method of recognising this performance".
The overall fund manager rating is a reflection of aggregate performance within specific funds, each of which has an individual star rating. Fidelity Life's top ranked fund is the Super-Super balanced fund that holds five stars. Among other funds there are seven four star rated funds, six that hold three stars and two two star funds.
Fidelity Life currently has $180 million assets under management.
Investment company Colville Equities to raise up to $75m.
Colville Equities Limited (“Colville”) announced today that it is proposing to make an offer of shares and options to the public. Colville will operate as an actively managed investment company with a primary focus on NZX-listed securities and a secondary focus on NZ unlisted investments which are expected to list within two years and ASX-listed companies with business interests in New Zealand.
Colville will seek subscriptions of $50 million with the right to accept over- subscriptions of up to $25 million. Shares will be offered at $1 per share and investors will be granted a one-for-two transferable option to acquire additional shares, also at $1 per share, in two years’ time.
Colville will have a management agreement with Milford Asset Management Limited under which Milford will manage Colville and its investment portfolio.
It is expected that the combined prospectus and investment statement will be available mid-May 2004. No money is currently being sought and no applications for shares or options will be accepted or money received unless the applicant has received an investment statement.
On behalf of Colville Equities Ltd
Brian Gaynor Ph (09) 529 1653
Media Contact:
Andy Allison, Ph (027) 437 7501
Presence Communications