Friday 2nd April 2004 |
Text too small? |
The fund, which will be structured similarly to Fisher Funds Management's Kingfish offer, will be marketed using the profile of business columnist Brian Gaynor, who recently became a director and shareholder in Milford.
Mr Gaynor, a former equities analyst, has gained a following among mum-and-dad investors through his columns in the business section of the New Zealand Herald and, previously, The National Business Review.
The Kingfish fund sought a minimum $50 million and ended up with $58.5 million for investment in "small" New Zealand companies with a market capitalisation of up to $450 million.
A third listed investment fund offering, from Salvus Strategic Investment, is still on the drawing board.
Milford was founded in January by former sharebrokers Neville Todd and Alan Moore and former fund manager Graeme Thomas.
The development of the New Zealand boutique funds management industry mirrors that in Australia, where a spate of listed and unlisted funds have raised capital in a buoyant equities market.
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes