Fidelity Life has reported profit of $9.3 million for the six months to 31 December 2010 and a huge 51% increase in KiwiSaver funds under management in unaudited key financial indicators.

AIA had a successful year increasing its net profit by 54% to $3.6 billion in the year to November 30, 2010.

Morningstar has announced the winners of the Morningstar New Zealand Fund Manager of the Year Awards 2010.

Morningstar handed out its fund manager of the year awards in Auckland last night. While the top award went to a big manager it won't be long till a boutique manager takes the top prize.

Commerce Minister Simon Power today welcomed the report-back by the Commerce Select Committee on legislation to establish the Financial Markets Authority (FMA) and to improve KiwiSaver scheme governance.

Commerce Minister Simon Power is to retire from politics at the election in November.

Partners Life is set to unveil details of a nationwide roadshow planned to start at the end of March as it prepares to open for business at the start of April.

Harbour Asset Management has appointed Kate Pickering as an assistant investment analyst.

Industry training organisation ETITO has appointed Garry Fissenden as its chief executive.

Mortgage rates are "set to fall dramatically" as a result of the destructive Christchurch earthquake which hit last week, according to some economists.