What little momentum was being seen in the housing market is in danger of being entirely snuffed out in the wake of the devastating Christchurch earthquake, according to the latest ANZ Property Focus.

AMP Capital Investors is leading the pack at the Morningstar New Zealand Fund Manager of the Year Awards 2010.

Regulatory changes are providing advisers with an opportunity to re-set clients’ investment portfolios towards a goals-based approach.

Commissioner for Financial Advisers David Mayhew has tendered his resignation to Commerce Minister Simon Power, saying, "I was personally disappointed not to be appointed to the chair of the FMA."

The housing market is set to remain subdued for the next couple of years and further declines in house prices are expected in early 2011, according to the latest ASB Housing Confidence Survey.

AMP New Zealand has announced operating earnings of $74 million for the year to December 31, 2010, up 9% on the 2009 figure of $68 million.

A cull of advisers with ‘low productivity' has seen AXA New Zealand's aligned adviser force shrink by 18% over the past year to 313, while the total adviser network was 15% lower at 359.

AXA says its life insurance, or financial protection, business performed well in 12 months to December 31, however wealth management struggled.

OnePath remains 100% committed to the adviser market and believes the coming year will see significant opportunities for investment, KiwiSaver, insurance and private banking.

Economic growth in New Zealand will accelerate in 2011, though the cautious household sector remains a drag, according to AMP Capital Investors.

The rental market – particularly in Auckland – has been bucking the trend of falling prices and low sales as “a whole new generation of renters have left home ownership behind.”

Term deposits have retained their top spot as the most popular investment class, with investors believing they offer better returns than rental property, KiwiSaver or shares.

KiwiSaver has jumped ahead of managed funds and shares as the investment option offering the best returns, and an increasing number of people see the scheme as their primary means of retirement.

Saturn rings up portfolio boost; Good Returns needs you; Fund flows in 2010 up 46% on year earlier.

Despite falling house prices and sales, Kiwi’s love affair with rental property remains intact as it is rated the second best bet for investment returns behind term deposits.

LM Investment Management has announced the start of a 12-month plan that will see its frozen LM First Mortgage Income Fund reopening for new investment for the first time since March 2009.