Standard & Poor's has increased Geneva Finance's rating three notches, but remains negative on the company.

Financial advisory group Vestar is on the market and is won't fetch anything like the $52 million MFS Australia paid for the company in late 2006.

Geneva Finance investors have opted for the company's recapitalisation plans over receivership.

KiwiSaver bulks up AXA's funds flow, First finance coy PIE, St Laurence gets bulk of money, Staff buy out hedge manager.

UDC is the first finance company to roll out new products under the Portfolio Investment Entity tax rules. It's two offerings are a term fund and a cash one.

Wellington

Reserve Bank Governor Alan Bollard said: "Economic activity has weakened more markedly than expected in the Bank's March monetary policy statement.

AXA New Zealand says sales of insurance products were are up 22% to $5.6m in the three months to March 31. Its total insurance premiums from New Zealand policy holders to $173.4 million.

Auckland

Lombard says that although its finance company has collapsed its mortgage businesses, Tasman and United, continue to to trade at acceptable levels in a very tough market.

Kiwi Finance, the little New Plymouth-based finance company which fell over at the end of last week, owed $2 million to 41 debenture holders.