NZX - NZ Exchange

[Harvey Specter]

No mention in NZX's announcement of Superlife's prior or forecast profits. It's not clear if NZX has just bought the funds management business, or if it's now into insurance too.

Brian Gaynor critisised the level of disclosure.

From the funds side, it actually seems like a good purchase. They will take those passive funds and invest them into the EFT products, SmartOZZY and SmartFINZ for the Ozy and NZ funds respectively, and also use the Global fund to start a global EFT. Overall they have over a billion under management.

I actually started in the SmartKiwi kiwisaver but moved to superlife due to the high fees. Hopefully they will use this to get scale and reduce the fees on their EFT products. Which should hopefully make them as desirable as the overseas EFT funds.

[bunter]

Yes it sounds good and promising but would you trust NZX not to stuff it up?

[Harvey Specter]

Yes it sounds good and promising but would you trust NZX not to stuff it up?

Well they are the NZX so if they dont stuff it up, they will overcharge. Either or isn't it?

[voltage]

maybe this is good news and we will now get access to some global rtfs hopefully at a realistic price

[voltage]

mistake should be etfs not rtfs

[Harvey Specter]

maybe this is good news and we will now get access to some global etfs hopefully at a realistic price

They are starting off with 2 new Ozzy ones (property and dividends). I would have though a global would have been the obvious next one off the block but then AMP did struggle with their WINZ product.

They are also introducing a market maker to ensure you can get in and out at close to NTA so there shouldn't be any significant discounts gong forward due to inactivity.

[voltage]

I thought an aussie dividend does not make sense due to double taxation.

[bunter]

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?

[Joshuatree]

"Bring back -B-U-C-K--- ; I mean Mark. "Bring back Mark" "Make them afraid of the dark"....

[p2r]

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?

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