New Zealand Funds Management appears to have enjoyed a much better year than any year since 2021 when it received enormous performance fees.

Pathfinder has seen strong growth over the past year and attributes it to the increasing commitment of Kiwis “to investing in line with their values.”

Mortgage advisers have nothing to fear from the new home loan comparison calculator that the New Zealand Banking Association (NZBA) has just launched, according to leading adviser Bruce Patten of Loan Market.

A couple of mortgage industry stalwarts are back in the market with an offering of deposit bonds for those who want to buy a residential property, but who for various reasons either can’t get finance from their banks or wish to avoid the obligations such access requires.

Kiwibank continued to gain market share of mortgages in the June quarter, along with BNZ and ASB, while both ANZ and Westpac lost market share.

NZX’s Smart’s growth in funds under management (FUM) slowed to 3.8%, or by $500 million, to $14 billion in the six months ended June.

Heartland Group grew its reverse mortgage business in New Zealand by 15.5% with growth in total net lending slowed by higher repayments while the Australian business grew 18.5%.

Kiwibank stepped up lending on mortgages in its second half, taking growth for the full year to almost double its market share.

Mortgage holders who have been hanging out on short-term fixed rates, hoping that longer-term rates still had further to fall, may be proven to have had the right strategy.

The Reserve Bank is expecting higher inflation and unemployment and lower economic growth and is also expecting to cut its official cash rate (OCR) twice more to bottom out at 2.5%.

NZX is facing growing competition in funds management and may have overspent on its wealth tech platform, according to a Forsyth Barr analyst.

Some companies’ results are more noteworthy for what they don’t disclose than for what they do and ASB Bank has continued its tradition of not reporting how much of its mortgage business depends on mortgage advisers, unlike the other major banks and Kiwibank.

ASB Bank continued to increase its mortgage book at a rate above its market share through the year ended June, making up for lost time in the first half of 2024 when its book shrank because its offering wasn’t competitive.

Much lower performance fees in the year ended March meant Milford Funds’ annual net profit fell 13.3% to $16.9 million.

Asked what we should make of Harbour Asset Management’s latest financial results, co-chief executive Andrew Bascand says they show the business is profitable and has a strong balance sheet.

Sharesies’ KiwiSaver scheme should tip over into break-even and profitability in the current financial year, says the company’s KiwiSaver general manager Matt Macpherson.