The past year has been difficult for hedge funds, but things are getting better and performance has picked up recently.

As expected, Reserve Bank governor Alan Bollard left the official cash rate (OCR) unchanged at 6.5%, although he says further increases can’t be ruled out and that there is little scope to cut rates in the foreseeable future.

The Reserve Bank has left the official cash rate (OCR) unchanged at 6.5%

Now that the New Zealand Superannuation Fund’s future has been assured there is a chance that it will get a big cash windfall.

Life insurer Fidelity has rolled out an alternative fixed interest fund which has been described as "radically different" and that aims to achieve returns of more than 10% annually.

The December issue of ASSET magazine is packed with in-depth coverage of all the big financial planning issues.

The lastest Household Savings numbers show the average New Zealand household got richer last year, but there are some warnings.

Strategic Finance has received a further B1 credit rating by international corporate ratings agency Rapid Ratings.

Auckland

As the year draws to a close it is time to reflect on the performance of the various markets through 2004 and to preview next year. Tyndall Investment Management New Zealand Ltd managing director Anthony Quirk comments on the state of the markets.

Two of the biggest fund managers in the country have lost key people this week.

The Bank of New Zealand has narrowly escaped censure over its “we’ve cut out brokers” advertising campaign.