Salvus Strategic Investment (NZX:SAM) has reappointed the managers of its listed investment trust and changed its investment universe and benchmarks.

Finally we are starting to see some of last week’s cut in the official cash rate being passed onto borrowers, but not by the banks.

Strategic Finance, which gained approval for its moratorium from debenture and noteholders in December, has struggled to refinance outstanding debts as deterioration in the property sector makes it difficult for its borrowers to raise capital.

Nationwide

Nationwide

Lipper award for Tyndall manager; Unlisted stays with M-co, announces first TQ; Mercer launches research boutiques; Macquarie posts 58% profit drop

Rabo Capital Securities says it has capped the amount it plans to raise through its PIE securities offer to $330 million.

The Commerce Commission has cleared home loan break fees charged by National Bank, ASB, SBS Bank and Bank of New Zealand, saying they’re likely to comply with consumer finance law.

The health insurance market appears to be weathering the global economic storm well, according to figures released today by the Health Funds Association of New Zealand (HFANZ).

Wellington

Nearly half of private investors have now joined KiwiSaver with a further 22% intending to join in the next quarter, a survey from ING says.

Equity markets look significantly more attractive than cash or bonds, according to AMP Capital Investors, which manages around $11 billion in New Zealand and has boosted its stock holdings at the expense of fixed income and property.     

Peter Conroy has joined Asteron to head up their distribution support team.

Finance company Viaduct Capital, which lost its government guarantee last week, has returned to the market offering investors higher interest rates than before.

Southern Cross Medical Care Society has had its A+/Stable rating confirmed for the seventh consecutive year by Standard & Poor’s (S&P).