News Round Up

Monday 16 August 2004

BT gets qualified tick, NZIT manager merges, Perpetual adds new asset class, Auckland house price update.

By The Landlord

Standard & Poor’s has given BT Funds Management in Australia a qualified thumbs up and has assigned its ratings to a number of Australian equity funds.

“Following the merger of the Westpac, Rothschild, and BT wealth management businesses in November 2002, significant changes have been made to the Australian equities team structure and investment process. Investment decisions are now more transparent and risk aware, with performance of portfolio managers and analysts being closely tracked and individuals are held more accountable for the impact on returns,” S&P says.

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