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

 

NZX announces acquisition of FundSource business

NZX announces acquisition of FundSource business

29 September 2006 –

New Zealand Exchange Limited (NZX) announced today the acquisition of the business infrastructure of FundSource Research Limited. FundSource, an investment research company based in Auckland, provides fund managers and financial intermediaries both qualitative and quantitative research on over 600 investment funds including unit trusts, personal superannuation schemes and insurance bonds.

Collectively, funds covered by FundSource total over $20 billion in savings and investments in New Zealand. FundSource also provides research on finance companies and credit cards.

FundSource runs an annual investment conference on investment themes relevant to financial advisors and fund managers. FundSource also recognises excellence in investment management with its annual Industry Awards.

“The acquisition of FundSource is consistent with NZX’s commitment to strengthening New Zealand’s savings framework – to make it easier for investors to become informed and confident and in control of their financial future. The services provided by FundSource are credible and independent,” said NZX Chief Financial Officer Steve Armstrong.

“Since inception in 1987 FundSource has secured a very strong position and brand within the managed funds industry. A number of changes that have now been proposed in relation to tax, financial intermediation and regulation will impact on how New Zealanders save and invest going forward. As such, FundSource is in a position to widen its services in a number of areas,” said FundSource General Manager Binu Paul.

“In that context it is a fantastic fit to have the strength of the FundSource brand combined with another powerful brand such as NZX, as a parent in the business. This is a very exciting opportunity for FundSource and, more importantly, its customers,” Mr Paul said.

Under NZX ownership, FundSource investment research philosophy, process and management will be maintained and operations will remain based in Auckland.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: