Westpac
From the Westpac website: A managed fund is a type of investment product - it gives you a hands-off way to invest in a wide range of assets. You contribute to a fund which is managed by a professional fund manager. Your contributions are pooled with contributions from other investors, so the fund has more money to invest.
Key Managers
Ownership
BetaShares Capital Ltd. majority shareholding
KiwiSaver funds
Managed funds
NZ Super funds
Our Coverage
westpac lifts milk price forecast to 10kgms
Westpac NZ has lifted its forecast farmgate milk price to $10 per kilogram of milksolid payout as Chinese buyers push up prices. Meanwhile, ASB has also lifted to $9.75/kgMS on Wednesday afternoon. Th
stumped investors abandoning term deposits westpac
The pronounced shift away from bank term deposits into transactional accounts reflects the limited options savers have in a low interest rate environment, Westpac New Zealand chief executive David McL
westpac nzs first half net profit lifts 11
Westpac New Zealand reported an 11% increase in its first-half net profit as it benefited from lower impairment charges.The local unit of the Australian lender reported a net profit of $477 million
westpac predicts 20 house price inflation
Westpac Bank took its forecast rate cuts off the table and now expects annual house price inflation to peak at 20 percent this year. On Wednesday it had been picking two 25 basis-point rate cuts in Ma
westpac chair to resign next year
Westpac Banking Corp chair John McFarlane will resign from his role at the bank’s annual general meeting in December next year. McFarlane said he had delivered on his promise "to create a leaner, mo
50000 westpac customers facing home loan shock
Westpac New Zealand has 50,000 customers rolling off fixed-rate mortgages with interest rates below 4% in the six months ending March next year. Chief executive Catherine McGrath said the bank uses a.
rbnz locks horns with westpac nz again
Westpac NZ has again drawn the ire of the Reserve Bank and this time the central bank is questioning its governance processes and liquidity reporting and has instructed the bank to commission two inde
westpac nz appoints another new director
Westpac NZ says David Green will join its board as an independent non-executive director from June 7. Green worked for ANZ Group for 14 years, most recently as chief executive of Singapore and head of
westpac wont ditch nz subsidiary after all
Westpac's Australian owners have decided to keep the New Zealand arm after all. In a brief statement, Westpac group chief executive Peter King said after a detailed review, "we believe a demerger of t
forgery and fraud sucks westpac nz deeper
As Westpac chases erstwhile Australian business tycoon Bill Papas through the Australian and New Zealand courts to recover the bulk of an alleged A$400 million trans-Tasman forgery scheme, the bank’
what tripped up westpac this time
Westpac New Zealand learned its lesson about the importance of meeting prudential rules when it fell short of capital requirements a few years ago. The lender had to hold an extra $1 billion in reserv
westpac nz lists 600m of bonds on nzx
The local division of Australian banking group Westpac has listed $600 million of bonds on NZX's debt market, separately from its parent. Westpac rang the NZX bell today to celebrate the launch of t
westpac cuts some slack for bankrupt customers
Westpac New Zealand is abandoning “outdated” policies that saw bankrupt people lose their bank accounts in favour of a more flexible approach. The change follows a report called Access to Banking
westpac profit jumps 10
Westpac New Zealand’s profit jumped 10% over the past year, as it suffered less of a hit from borrowers struggling to repay debts than it did in 2023. The Australian bank’s New Zealand division re
westpac index finds consumer confidence plummets further
Westpac says consumer confidence has trickled downwards in the September quarter and says it signals the number of New Zealand households who are pessimistic versus optimistic about the country’s ec
westpac nz names new chief economist
After a 10-month search, Westpac has found a new chief economist for New Zealand with the appointment of Kelly Eckhold. Eckhold will take over the role in March from acting chief economist Michael Gor
westpac bank to delist from nyse
Westpac Bank will delist its American depositary shares which allow US investors to buy shares in the Australian bank through the New York Stock Exchange. An American depositary share, or ADS, is shar
westpac faces insider trading allegations
Westpac is being sued for insider trading and unconscionable conduct related to interest rate activity during its involvement in the 2016 Ausgrid privatisation. The bank confirmed in a statement to th
jarden nabs westpac tech executive
Investment and advisory firm Jarden has hired former Westpac executive Dawie Olivier as its chief technology officer. A statement from Jarden said Dawie was a technology leader with a career in people
westpac nz wary of further stresses
Westpac New Zealand is preparing for a more difficult second half of the financial year with mortgage borrowers set to face more strain as rapid interest rate hikes of the past year-and-a-half continu
consumer confidence remains low westpac
Westpac expects New Zealand households to pull back on spending in the coming months as consumer confidence remains low. The bank released the results of its quarterly Westpac McDermott Miller Consume
westpac bank now expects two hefty cuts this year
Westpac now forecasts two 50 basis point cuts to the official cash rate at the October and November RBNZ policy meetings, taking the OCR to 4.25% at the end of 2024. The OCR is currently at 5.25% and.
consumer confidence near historic lows westpac
A lift in consumer sentiment over the past six months has been almost entirely erased, according to Westpac. Westpac’s McDermott Miller Consumer Confidence Index, released Tuesday, put consumer conf
westpac banking corporation
Westpac Banking Corporation is Australia’s first bank and oldest company. The company is also one of the largest banks operating in New Zealand. Westpac provides a full range of financial services t
qippay takes another step with westpac deal
Auckland startup Qippay has inked a bilateral agreement with Westpac Bank in the middle of a major capital raise. The agreement, similar to one the fintech forged with the Bank of New Zealand (BNZ) ea
Finance News
Finance
December interest rate cut uncertain: Fed governor
Lisa Cook says the timing of further reductions will depend on new data.
Finance
Bayly to banks: ‘Just get on with it’
Minister Andrew Bayly is impatient for the changes needed to improve competition.
Finance
‘Regulatory failure’ let NZ’s payments fall behind
NZ was the All Blacks of payments, but now barely makes regionals as regulation lagged.
*All returns are per annum, after fees and before taxes. Data updated at 1:07pm 21 November 2024 (NZT)
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