Marac's parent company, Pyne Gould Corporation (PGC) has announced that it plans to raise $237million through a fully underwritten pro-rata renounceable Rights Offer.

In a year that has seen two KiwiSaver providers close up shop, the big bank brands were again dominating fund flows, the second annual Good Returns KiwiSaver survey has found.

The Professional Advisers Association (PAA) has called for volume agreements with insurance providers to be the focus of disclosure rather than commission payments.

During this global economic crisis, simplifying our work activity is the key to success. When we get rid of unprofitable burdens and organise, we can focus on more important things.

Westpac last week lowered some of its short-term fixed interest rates, and today has gone the opposite way and increased longer-term rates.

The Investment Savings and Insurance Association (ISI) has appointed former Prime Minister Jenny Shipley as an independent director of the ISI board.

Parliament has passed a major omnibus tax bill into law which clears up rules around payouts to the estates of deceased KiwiSaver members.

A theme emerging from economists yesterday was that the easing cycle is over and the next move in the official cash rate will be up. These increases are likely to be earlier and bigger than many anticipate.
ASB economist Jane Turner expects the Reserve Bank will hike by June next year and the risks are skewed to an earlier start.

Fidelity has replaced ING as one of its fixed interest managers and instead given the $34 million mandate to Grosvenor Financial Services.

South Canterbury Finance (SCF) has been placed on CreditWatch negative by Standard & Poor's (S&P).

Annabel Cotton has finished her short reign as Commissioner of Financial Advisers and been replaced by a Kiwi who has been heavily involved in financial services regulation in the United Kingdom.

Macquarie Private Wealth New Zealand has signed up two new investment advisers to its growing advice business, with Alistair Ross and Kristan Mines joining the team.