Forum Archive Index - March 2000

[James Lee <James.Lee@directbroking.co.nz>]

Hi all.

I am not really sure if me doing this is appropriate, but take this as my 2
cents worth not a reflection of where I work.

A compulsory super scheme in theory is a great idea and for my generation to
be able to look toward  a government paid retirement, has to start now.   As
I understand it, the money would be invested in various markets including
the NZSE, and as such would provide an increase in market turnover and
liquidity.  This should provide an injection of life back into our sadly
undervalued market, and would help replace the o/s money leaving our shores
and depreciating our dollar.
The only real concern would be as to who would run the investment side of
things, would an insto broker such as CSFB or JBs' run it or would it be run
by an independant board. At the same time as such a scheme came to life
there would have to be a change to monetary policy affecting the actions of
Don and the team at the RB.  Because at the moment not only would there be a
conflict of interest between what is best for the fund but also what is best
for the economy.  All the future moves from the RB would then have to
consider the implications to NZs Super Fund.  This could only lead to some
sort of joint effort between the RB and Govt again, which history teaches us
to be a negative thing for our economy.
Super Schemes and Fund Managers are huge things in the US and in OZ, and
really help put life into their economy if run properly, but unfortunately
with a weak govt in power influenced by rather short sighted people with
little knowledge of economics, this seems unlikely to help our economy.  It
is already rumoured that up to 40% may be spent offshore which is negative
to our dollar meaning domestic investments falter. 

I would be interested to see how it all turns out, and I hope it works in
everyones favour.  
Happing Punting.

James Lee

-----Original Message-----
From: hyperion [mailto:hyperion@ihug.co.nz]
Sent: Friday, March 17, 2000 5:43 PM
To: sharechat@sharechat.co.nz
Subject: Re: [sharechat] compulsory savings


Yeah lets all send emails to Anderton hes a good old boy for NZ 's future.
It is the only way New Zealand can get large amounts of capital without the
fear of sudden profit taking!

----- Original Message -----
From: Wedde, John <john.wedde@cit.ac.nz>
To: <sharechat@sharechat.co.nz>
Sent: Friday, March 17, 2000 3:14 PM
Subject: RE: [sharechat] compulsory savings


> Dear Winston of course tried to get this going but was rubbished by
> everybody for it.
> I always thought it was a great idea and certainly agree with the
sentiments
> expressed in this forum. It just might be the shot in the arm the NZ
market
> needs.
>
> John Wedde BCA, MA, Senior Lecturer, Business Communication
> Programme Leader, NZ Diploma in Business
> Central Institute of Technology
> Box 40 740 Upper Hutt, New Zealand
> EMail: John.Wedde@cit.ac.nz <mailto:John.Wedde@cit.ac.nz>
> Phone: 5276397 EXT. 6747 Mobile 025843729
>
> &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&
>
>          \\\ ///
>          (O O)
> ---ooO-(_)-Ooo---
>
>
> &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&
>
>
>
> -----Original Message-----
> From: Lyn [mailto:malcolm.f@xtra.co.nz]
> Sent: Friday, 17 March 2000 14:42
> To: sharechat@sharechat.co.nz
> Subject: [sharechat] compulsory savings
>
> nz must except that a compulsory super is not a option but a
> must if nz
> investment industry is to survive let alone the people ..
> think about it
> allyou fellows are running around in circles trying to
> invest in aussy
> ..super is why thier shares are performing,, thier companys
> are not
> doing any better than our   malcolm
>
>
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