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

 


Hanover Enters Funds Management Market

13 September 2006

Hanover Enters NZ’s $54 Billion Funds Management Market
-100% capital protection* for investors’ nest eggs-

Hanover’s new funds management business is carving a niche in New Zealand’s $54 billion funds management market, targeting a new client base wanting exposure to international markets and alternative asset classes.

Hanover is making a significant commitment to the development of a range of structured finance products for the retail investor. Internationally these products account for more than 100,000 listings and over $700 billion in investment.

Hanover Funds Management Chief Executive Officer, Perry Cornish, says the new offering addresses the two biggest issues for investors – the potential for a high yield and the confidence that their capital is protected at maturity. “Our Global Growth Fund enables regular Kiwi investors to gain exposure to the growth potential of four of the world’s leading equity markets in a way in which their capital sum is protected at maturity, and without having to pay any annual management fees.”

Mr Cornish says today’s announcement represents an exciting new era for the New Zealand investment community. “Capital protected products are a familiar asset class internationally but Hanover is the first large scale operator to commit to making them readily available to all New Zealanders.”

“Investments that are structured to repay the original amount invested at the end of the investment term are generally associated with low returns, but this new investment product delivers both a potential high yield and capital protection at maturity in a single, highly attractive investment opportunity.”

Hanover’s Global Growth Fund is a five year investment which, at maturity, offers investors a potential return of 50% - the equivalent of 10% for every year invested. The return is based on the five year performance of a basket of four major global indices.

Hanover Funds Management is a member of the Hanover Group. Funds management is a significant new business strand for the organisation – positioned alongside its successful Finance and Property & Infrastructure divisions.

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