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.

New Zealand fund managers reviewed; Lifting retirement age inevitable; Morgan enters wholesale funds management.

Bank of New Zealand chief economist Tony Alexander looks at interest rates in this week's newsletter. He says claims bank floating rates are too high are wrong.

Have you ever considered asking high-net-worth friends for their business but have been reluctant to do so? While you may be an expert at approaching strangers, you may find it difficult to ask successful friends or acquaintances to become clients.

Non bank deposit takers such as finance companies are facing a much tougher regulatory regime than previously expected.