The private equity owners may refloat Metlifecare once the housing market has recovered.

Inland Revenue is proposing to make fees charged for fund management exempt from GST.

Two of the newer KiwiSaver schemes chalked up larger losses in their latest financial year.

NZX's Smartshares funds management business lifted funds under management (FUM) 8.2% to $11.88 billion between December and June 30 with 6.3% of that growth coming from improving markets.

Quotemonster's owner, Quality Product Research, is teaming up with financial research company Morningstar to start offering advisers information on all the various KiwiSaver products now available.

Life insurance advisers who choose not to review legacy policies are opening themselves up to censure by the regulator, the Financial Markets Authority, Compliance Refinery director Steven Burgess told a Quotemonster roadshow event in Lower Hutt.

A survey of the public for Fidelity Life found only 22% of New Zealanders had consulted a financial adviser.

The Financial Advice Code Committee won't be recommending any changes to the minimum education requirement for financial advisers being the level 5 certificate, committee chair Angus Dale-Jones told the Wellington session of Financial Advice New Zealand's (FANZ) Connect tour of the country.

Fund managers love to talk about their investment performance, but some are reluctant to talk about their own performance.

The string of improving results from fund managers is continuing with both Devon Funds Management and Generate Investment Management reporting substantial annual profit increases.

Mint Asset Management shone in New Zealand equitites in the June quarter while Milford Asset Management was the top performer in Australasian equities, according to the results for wholesale funds in the latest MJW survey.

The year ended March 31 was a much better year for Milford Funds than the previous year, largely because of performance fees.

Financial markets appear to be overlooking any potential volatility from global political and other international developments, according to MJW in commentary attached to its latest survey of fund performances.

Taking a passive approach to investment paid off for those in Simplicity's growth and blanced KiwiSaver funds in the June quarter and for those in its newer default fund created after it was chosen two years ago to be one of the six default managers.

The Financial Services Federation, which mostly represents non-bank financiers, has started signing up mortgage advisers as affiliate members.

The Salt Sustainable Growth Fund is currently underweight New Zealand equities and the Sustainable Income Fund has reduced its exposure to NZ shares as the local market continues to underperform the major global equity markets.