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

 

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