Markets

KiwiSavers not getting value for money, says FMA report

Dan Brunskill
Mon, 24 Aug 2020

Passive KiwiSaver managers are no cheaper than active ones and fees overall are too high, a report by the Financial Markets Authority has found.The report, carried out by Auckland-based research firm MyFiduciary, examined 26 KiwiSaver providers and found there was no significant relationship between the level of active management and the fees charged. “We would have expected to find that the less active providers would have lower fees, on average, than the most active providers,” report authors Chris Douglas and...

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Markets

MARKET CLOSE: Profit taking pulls shares down

Dan Brunskill | Mon, 21 Sep 2020

Profit taking pushed New Zealand’s benchmark stock index more than 500 points below its record as investors found few reasons to buy with a global recession in progress. The S&P/NZX 50 Index fell 94.42 points, or 0.8 percent, to 11,539.10. Within the index, 34 stocks fell, 11...

Infrastructure

Power market trading rules 'unsatisfactory' - review

Gavin Evans | Mon, 21 Sep 2020

Spot electricity market trading conduct rules are flawed, legal experts say.

Retail

Why Turners kicked vendor off car yards

Victoria Young | Mon, 21 Sep 2020

Former owner's behaviour "random and unhelpful," court told in Turner's car yard battle.

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