NZX - NZ Exchange

[JimHickey]

The money will not be nzx or superlifes but people with money in the applicable funds?

Too much logic for this place.

[bunter]

The money will not be nzx or superlifes but people with money in the applicable funds?

If I understand right, Superlife is 100% owned by NZX.

Superlife has several divisions.

One is funds management. The money in those funds should be separate, and safe.

Another division is insurance.

A third division is 'investments'. So Superlife makes investments in certain companies.

One of those companies is Energy Mad. That investment hasn't gone too well and MAD is nearly out of money! Rather than write the initial investment off, Superlife has put more money into MAD.

So NZX, not the Superlife fund investors, are the ones taking the risk.
So I believe.

[janner]

NZX, via its subsidiary Superlife, has thrown away 2.5m on a loss-making technically insolvent company - MAD.

It's also potentially underwriting another 1.7m rights issue - total of $4.2m at risk.

Glad I sold. What next?

When did you buy ??

Why did you sell ??

Why the rant ??

[bunter]

When did you buy ??

Why did you sell ??

Why the rant ??

Bought in 2012 because some big share floats were coming and it seemed a bull market was in progress.

Sold because NZX stagnated despite favourable conditions.

Also didn't appreciate them buying Superlife and not giving any financial info.
Nor their nagging other companies about how they run their companies, when they're not even doing a good job of running their own.

Rant - gone now.

[janner]

Bought in 2012 because some big share floats were coming and it seemed a bull market was in progress.

Sold because NZX stagnated despite favourable conditions.

Also didn't appreciate them buying Superlife and not giving any financial info.
Nor their nagging other companies about how they run their companies, when they're not even doing a good job of running their own.

Rant - gone now.

Fair enough !..

[p2r]

If I understand right, Superlife is 100% owned by NZX.

Superlife has several divisions.

So NZX, not the Superlife fund investors, are the ones taking the risk.
So I believe.

Sorry. I am sure you are wrong bunter. If you look on the superlife site under investments there are PDFs with the amount invested on investors behalf. The NZ share and Gemino have a few millions of such gems as MAD & WDT owned by the investors. Chosen by forsyth barr I think i saw somewhere. Of course investors can switch out of them including into the smart shares Mozy etc now ... anyway not much of an impact on NZX I think.

[winner69]

Sorry. I am sure you are wrong bunter. If you look on the superlife site under investments there are PDFs with the amount invested on investors behalf. The NZ share and Gemino have a few millions of such gems as MAD & WDT owned by the investors. Chosen by forsyth barr I think i saw somewhere. Of course investors can switch out of them including into the smart shares Mozy etc now ... anyway not much of an impact on NZX I think.

That Gemino fund looks interesting

Big weighting to PEB

[bunter]

Sorry. I am sure you are wrong bunter. If you look on the superlife site under investments there are PDFs with the amount invested on investors behalf. The NZ share and Gemino have a few millions of such gems as MAD & WDT owned by the investors. Chosen by forsyth barr I think i saw somewhere. Of course investors can switch out of them including into the smart shares Mozy etc now ... anyway not much of an impact on NZX I think.

That's interesting p2r.
I wonder where the new equity came from - a fund or the parent company.
Unimpressed with their stock picks either way.

ETA - sniffed around Superlife's website and found those pdfs.
http://www.superlife.co.nz/data_file...ios/Gemino.pdf
http://www.superlife.co.nz/data_file.../NZ_shares.pdf

Other 'Gems' include CAV, RAK, BLT, MOA.

I think you're probably right - there doesn't seem to be anything to stop the funds from selling shares in AIA, for example, and investing in MAD.

I feel sorry for the investors.

[JimHickey]

That's interesting p2r.
I wonder where the new equity came from - a fund or the parent company.
Unimpressed with their stock picks either way.

ETA - sniffed around Superlife's website and found those pdfs.
http://www.superlife.co.nz/data_file...ios/Gemino.pdf
http://www.superlife.co.nz/data_file.../NZ_shares.pdf

Other 'Gems' include CAV, RAK, BLT, MOA.

I think you're probably right - there doesn't seem to be anything to stop the funds from selling shares in AIA, for example, and investing in MAD.

I feel sorry for the investors.

You should really understand how a funds management business works before passing making your mind up

[bunter]

You should really understand how a funds management business works before passing making your mind up

Passive funds do a little worse than the relevant index, and active funds do worse than the passive ones.
Fund managers do well. What more does a humble Punter need to know?