Praesidium Asset Management has launched a $27 million fixed interest offering under its mortgage trust format that follows on from its earlier offer in 2002.

The New Zealand Superannuation Fund has awarded a global multi-strategy mandate to Grantham, Mayo, van Otterloo & Co (GMO).

Auckland

This quarter’s Spicers Household Savings Indicators show the strongest rise in average net household wealth for two years.

Wellington

Auckland (Central)

Colonial First State has run into the same Securities Act difficulties over filing with the Companies Office which caught BT and a number of other funds three years’ ago.

Plans to revamp how life insurance policies are taxed are likely to follow the current reform of savings and investments tax changes.

Christchurch

Auckland (South)

The government’s oversight of finance companies has come under question after the failure of two – Provincial and National 2000 – and talk of more to come.

Auckland (North)

The rescue plan being put together by finance companies and advisers for Provincial Finance has fallen through after becoming too expensive. However it appears Provincial debenture holders will get their money back.

The rescue plan being put together by finance companies and advisers for Provincial Finance has fallen through after becoming too expensive. However it appears Provincial debenture holders will get their money back.