The research house Morningstar last week released its KiwiSaver Performance survey to September 30, 2011. With the funds now in place for just over four years, the number of contributors and the amount of funds under management, continues to grow.
Gift duty was abolished on October 1.
In times of market volatility, as now, investors rush to invest in gold.
The fourth anniversary of KiwiSaver on July 1, 2011 passed with little comment. Figures for July show the number of new applications has dropped off markedly compared to previous months.
Under the new code of conduct for financial advisers that commenced on July 1 it is compulsory to achieve 20 credits of professional development over a 12-month period. In attending the annual conference of the Institute of Financial Advisers (IFA) it is possible to receive up to 12 credits.
I am not sure if it is the norm but several recent weddings I have attended, and others I have heard discussed, show a changed trend from my days. (I am a fan of Gordon Parry's columns).
It is now two years since the Government announced it would not be making further contributions to the NZ Superannuation scheme after the $250 million that was paid in 2009.
In the recent Budget, Finance Minister Bill English stated that student debt was $11.6 billion.
The Government has announced through the Budget changes to be made to KiwiSaver. The changes will save the Government $2.6 billion over four years.
At the last interest rate review of the Official Cash Rate (OCR), the Reserve Bank Governor Dr Alan Bollard kept the rate at 2.5%.
Commerce Minister Simon Power announced on April 20 that the new Financial Markets Authority would have an initial budget of $24 million, rising to $28 million next year.
Ever since I have been a financial adviser specialising in investment advice, a common comment from potential investors is: I do not want to invest in equities because they will probably all turn to custard just as I retire.
New legislation with the registration of financial advisers comes into affect on July 1. As Authorised Financial Advisers, we have to abide by an 18-point Code of Professional Conduct.
We are all aware the price of petrol has risen sharply over the past two weeks.
As at January 31 there were 1,630,114 persons in KiwiSaver.
Welcome to 2011 the Year of the Rabbit, which began on February 3, the attributes of which include: money can be made without excess labour; lifestyle will be leisurely; people acknowledge persuasion works better than force; it is a congenial time for diplomacy, international relations and politics to get the front seat.
Divining exactly how the collective minds at Creative New Zealand (CNZ) work is not a simple matter; but neither, it must be said, is the dispensation of funds to a clamouring community of cash-strapped arts organisations.
The Reserve Bank did not change the Official Cash Rate (OCR) at its review on Thursday, keeping it at 3%.
Investors requiring income, and particularly those on NZ Superannuation requiring a top-up, are having difficulty in finding a satisfactory investment.
At the most recent review of the official cash rate (OCR) on October 28, the Reserve Bank Governor, Dr Bollard, kept it at 3%.
