News

Review could shake up KiwiSaver provider market

Wednesday, 08 May 2013 00:00

Minter Ellison partner Jeremy Muir predicts the continuing inflows of new money into KiwiSaver - more than $245 million in March alone - will stimulate more jockeying for position among fund managers.

"This is likely to mean more consolidation, such as Fisher Funds' acquisition of Tower's KiwiSaver scheme, and the launch of new products.

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Andrew Taylor and Gareth Galloway: We look healthy but we're still vulnerable

Wednesday, 08 May 2013 00:00

This was touted to be the year equity markets boomed.

Twelve months ago, in this column, we projected "significantly enhanced" capital markets, fuelled by Government plans to partially privatise state-owned power generator and retailer Mighty River and by Fonterra's proposed share trading among farmers.

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Solid support for SLI float

Wednesday, 08 May 2013 00:00

Technology company SLI Systems is on track to be the fourth listing on the New Zealand stock exchange this year after yesterday registering its prospectus ahead of a May 31 float date.

The float will help the country to break its listing drought, with stock exchange figures showing only 11 initial public offerings came to market in the five years until the end of 2012.

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Confidence builds, transactions to follow

Friday, 03 May 2013 10:30

Against a backdrop of greater stability in global markets and amidst the announcement of an upcoming Australian Federal Government election, 131 executives from Australia and New Zealand (Australasia), across all major sectors, took part in our 8th Global Capital Confidence Barometer.

The outlook for the global and local economies, capital markets and transaction landscape is considerably brighter than our previous two Barometers in April and October 2012, with executives clearly indicating that there is a renewed focus on growth.

Executives are now turning their attention back to capital allocation, moving the focus from cost reduction towards growth.

M&A levels remain modest but significantly better deal conditions, an improving economic outlook and an uptick in confidence will drive transaction volumes over the next 12 months.

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Private equity wheels turning again, says Champ boss Bill Ferris

Monday, 29 April 2013 16:56

PRIVATE equity is set for a comeback in Australia after several quiet years in the wake of the global financial crisis, according to one of the fathers of the private equity business in Australia, Champ Private Equity executive chairman Bill Ferris.

While the days of the big deals in the lead-up to the GFC -- such as Wesfarmers' $22 billion takeover of Coles, the $1.4bn sale of Myer and the $11bn unsuccessful bid for Qantas -- are gone for the moment, Ferris believes there is a growing market in Australia for mid-sized private equity deals between $200 million and $700m in enterprise value.

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