Members of the Mercer Super Trust KiwiSaver scheme can now choose to invest in the AMP Capital Responsible Investment Leaders Balanced Fund, with Mercer adding the RI investment option in response to growing demand.

In the first significant KiwiSaver consolidation since the superannuation scheme began, IRIS and Gareth Morgan KiwiSaver have announced they are teaming up to provide the IRIS-GMK scheme.

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Hamilton

Bank of New Zealand (BNZ) is hoping to raise at least $150 million from New Zealand retail and wholesale investors.

Christchurch

Nationwide

New Zealand fund managers, awarded the lowest possible rating in a global survey by Morningstar, need to increase disclosure of portfolio holdings, the investment researcher said.

Morningstar has done a review of fund management practices worldwide and given New Zealand a D minus – essentially a massive failure.

Institute of Financial Advisers president Lyn McMorran has defended the group's decision to name and shame two South Island advisers who were found guilty of breaching the institute's code of ethics.

ANZ concurs wth the Reserve Bank and says short term interest rates will remain the place to be for some time. However it also warns that a steep, positive yield curve is emerging and borrowers should expect to continue to pay more for longer term rates.