Two bits of news this week illustrate a point which many people have forgotten. Growth assets are good and everyone needs some (a bit like your greens).

The stage is set for Auckland’s CBD apartments to fall in value by up to 40% by the end of 2006, property analyst Kieran Trass is warning.

So you’ve just bought a buy-to-let property. There’s plenty of legwork to be done before you get your first rent payment. Get it right and the tenancy could be plain sailing. Get it wrong and you’ll be on call 24/7 to fix problems and could end up out of pocket.

Auckland

American International Assurance has named Nicholas Scarlett as chief executive of its operations in New Zealand.

The Government Superannuation Fund, which provides pensions for state employees, said today it made a pre-tax return of 11.83 percent for the June year on its investments.

The Government Superannuation Fund achieved a pre-tax return of 11.83% for the year ending 30 June 2005

The NZ Mortgage Brokers Association has named the winners of its broker of the year awards.

Wellington

Christchurch

Actively managed New Zealand share funds performed well in August, as did international funds.