Media

3 May 2019 

4 April 2019

An investment chief has questioned the Ports of Auckland's dividend policies, saying it can only pay Auckland Council's annual return by borrowing more.

Chris Gaskin, a portfolio manager at Devon Funds Management, challenged the idea that the port should be retained because it paid regular money to the council.

3 April 2019

In managing our clients’ NZ and Australian investments it is critically important to have a clear view on what is happening in China. China is not only the world’s second largest economy, it is also Australia’s and New Zealand’s largest trading partner (c. 20-30% of both countries’ exports) and its economic performance influences investor sentiment in both the New Zealand and Australian share markets.

5 March 2019

The recently released Tax Working Group (TWG) report “Future of Tax” should more correctly have been labelled “Taxing our Future”. Tax is an incredibly important component of a well-functioning economy and it is good to review our tax structures periodically. Unfortunately, rather than being a visionary document as we might have hoped, the TWG have produced a report that is economically naïve and would, in our view, shift more of the tax burden onto aspirational younger people.

A capital gains tax would "add huge complexity to one of the world's simplest tax systems" according to an Auckland-based investment expert, but a chief banking economist disagrees and backs its introduction.

Paul Glass, executive chairman of Devon Funds Management, said he was initially in favour of a CGT "but the more you look into it the less appealing it is" so he now opposes it.

Global equity markets continued to trade with an elevated level of volatility during November as investors were challenged by slowing global growth and tightening financial conditions. Despite this backdrop the New Zealand exchange was again a relative outperformer.

Trade Me users are well aware a bidding war can drive a price through the roof - now that could be about to happen for the company itself.

On November 22, Trade Me's board revealed it had an offer on the table from UK outfit Apax Partners.