Auckland

Morningstar has announced the finalists in its annual Fund Manager of the Year Awards and added two new categories: for KiwiSaver managers and Emerging Fund manager.

As the world watched goggle-eyed at the inauguration of America’s 44th President, I wondered whether, in four years’ time, "Yes, we can!" will be have become "Yes, he did!".

As regular readers of our Commentary will no doubt be aware, we have tended to be on the pessimistic side of economic forecasters over the last year or so. However, even we must admit to having been surprised by the speed of arrival and the degree of severity of the current Asian Depression.

Last year was pretty horrendous for financial markets but to judge by many commentators 2009 could be worse still. The protracted process of unwinding excessive leverage and poor asset quality that built up in the global financial system over recent years is likely to continue across this year

AXA’s rating has been raised to AA from AA- by credit rating agency Standard & Poor’s, due to its ability to pay under its insurance policies and contracts.

Fisher keeps Kingfish contract; KBC Water Fund dries up; Small tax changes – big growth opportunities

One of the most interesting stories this week had to be the one Good Returns ran about AXA and Gould Wealth Management.

Saving habits formed early can make a life time’s difference when it comes to managing money, according to a recent survey, “Attitudes to Money” released by AMP Financial Services.

Ring-fencing of rental losses on rental properties could end up resulting in 116,000 fewer rentals, Stop the War on Tenancies spokesman Mike Butler cautions.

The Sorted website has been updated to include information for employers about the changes to KiwiSaver which come into effect on 1 April.

SBS Bank is introducing a five-year bond, specifically for its customers, but is looking to make a broader offering to the public in the future.

Sovereign has retained its A+ financial strength rating from international credit analyst firm A M Best for the second year in a row.

Nationwide

Moody's has announced ratings changes for Packaged Income Notes (PINs) 2005-1 and 2006-1, due to problems with the notes' managers.