Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Colonial First State Consolidates Group Resources

Colonial First State Consolidates Group Resources

Statement made by Bruce Abraham, Chief Executive, Colonial First State Investment Managers (NZ) Limited

Colonial First State, a member of the Commonwealth Bank Group of companies, is consolidating its business strategy in New Zealand to enable better utilisation of the investment and distribution strengths of the Group.

In future we will operate in New Zealand as a wholesale investment manager. We will continue to focus on the corporate market as well as providing investment management for products distributed by other arms of the Commonwealth Bank Group in New Zealand – Sovereign and ASB Bank.

The distribution and marketing of Colonial First State’s retail managed funds is being transferred to Sovereign. Importantly, Colonial First State will continue to be the investment manager for these products.

Colonial First State Property NZ Limited will continue to manage the Colonial First State Property Trust, which is listed on the New Zealand Stock Exchange.

The New Zealand operations of Colonial First State will remain part of and report directly to the international Colonial First State Investments Group based in Sydney.

This consolidation of our operations is part of the wider Commonwealth Bank Group strategy and enhances the business opportunities for Sovereign, ASB Bank and Colonial First State and also reaffirms Colonial First State’s commitment to New Zealand.

The new structure will more effectively enable our clients and new investors to access the investment expertise of the international Colonial First State Group.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news