AIG has resorted to its earlier plan and now intends to sell its pan-Asian life subsidiary, American International Assurance (AIA), which includes the New Zealand business through an IPO.

Two big events for advisers this week; Morningstar rates a Fisher Fund; Cosignia gets into third party admin.

The recovery in the New Zealand economy is proving to be a very lacklustre affair which is leaving many people scratching their heads wondering if this is as good as it gets, says BNZ economist Tony Alexander.

Long term fixed mortgage rates continued to tumble this week with NZF and AMP making the most dramatic cuts to four and five year rates of between 65 and 75 basis points. TSB also cut long term rates.

Vance Arkinstall, the long-standing spokesman for the Investment Savings and Insurance Association, has resigned after he and the other directors of failed financier Dominion Finance were accused of misleading investors.

Two non-bank lenders are pulling out of the home loan market because of a lack of funding.

The government-appointed statutory manager over Timaru millionaire Allan Hubbard and part of his empire has frozen the assets of another investment vehicle, saying it has “added another complexity” to the investigation.

Credit Union South looks to tap short-term money in quiet week.

Kiwibank margins put under pressure; PGG Wrightson Finance looks to push out listed-bond maturity: Fidelity to pay coupon; SBS flags bonus payments to charities.

Chartered Financial Analyst (CFA) Louis Boulanger, one of the founders and first president of the society, has recently been elected Global Investment Performance Standards (GIPS) Council chair.