The Trusts Act 2019 (“the Act”) became law on 30 July 2019 but most of the provisions will not apply until 31 January 2021. This will give trustees an opportunity to understand the Act and to consider what they may need to do to comply. This article outlines some important changes that may affect you.
September is Wills Month, so Trustees Executors is making it easy for you, your friends and family to make or update your will with a 50% discount off our standard fees*.
In recent months interest rates have set new lows in New Zealand and Australia. As interest rates have fallen, New Zealand investors have had stellar performance, but unfortunately there’s not much further rates can go, and as they get lower so do our expected future returns for term deposits, fixed interest and equities.
You may have heard recent discussions regarding the new Trusts Act 2019. This Act sets out new laws governing Trusts. This article outlines what the changes mean for you and Trustees Executors.
Planning a long trip? Overseas perhaps? Want to have peace of mind about your affairs at home and abroad while you are away? If so, there are a few matters you should check out before you go.
Wellness is important to us and as part of our Wellness Programme at Trustees Executors, we have introduced Community Volunteer Days to provide staff with an opportunity to give back to the local community. In June, our Auckland based team spent some days volunteering at various organisations to help make a difference.
Human behavioural science is coming under close scrutiny for its utility by securities market regulators worldwide. These authorities are seeking ways to protect retail consumers from adverse investment experiences and influence them to make optimal investing choices.
A prominent British retail managed fund has fallen into strife, in the process triggering serious questions about the way in which such financial products should be managed and regulated. The case of the LF Woodford Equity Income Fund (WEIF) has raised concerns about why such a closely monitored and apparently compliant managed fund was abruptly forced to suspend investor trading in its shares due to an asset liquidity crisis. In the first section of two articles, we examine how WEIF’s crisis was brought about by the investment manager’s decisions. In the second part, we will consider issues arising around the supervision of the fund by related parties and the regulator.
According to copious British news media analyses published on the subject of the LF Woodford Equity Income Fund (WEIF) trading suspension debacle, the problem was not just that investor withdrawals were persistent against a background of sustained poor fund performance. Had WEIF been entirely composed of liquid assets, then every last investor should have been able to exit in an orderly manner, albeit possibly at a loss, and the fund disestablished when the final one was out the door.
Non-bank deposit takers (NBDTs) – credit unions, building societies, and finance companies - are in line for a new supervisory regime, according to the Government, which is conducting a continuing review of the Reserve Bank of New Zealand Act 1989 (RBNZA). The review is required as part of the governing coalition agreement signed between Labour and New Zealand First in October 2017.