Investment Management

Staples Rodway Asset Management is a boutique investment advisory service that specialises in providing personalised and impartial investment solutions for individuals and trusts.

A total wealth plan

We take the time to understand your needs and propose a solution that is best suited to you, taking a holistic view of total wealth considering your total capital base and any non-financial considerations. We work with you to put in place a total wealth plan that will protect your capital base while also targeting growth and income as needed. It will balance risk and reward to suit your risk tolerance profile and investment expectations.

Our difference

Staples Rodway Asset Management is a joint venture between Staples Rodway Chartered Accountants and SBS Bank. This alliance provides the backing of a leading New Zealand independent Chartered Accountancy firm and a leading New Zealand owned bank. Staples Rodway Asset Management, which has been operating since 2000, has the resources to provide a wide range of investment solutions.

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Our offerings

PIE Portfolios

Provide a range of risk profiles and diversification across asset classes while providing the tax benefits of the Portfolio Investment Entity (PIE) structure.

Best of Breed Portfolios

Our best ideas for diversified portfolios utilising both Managed Funds and direct investments.

Customised Portfolios

Specialised bespoke portfolios designed to meet individual investor needs, including Charitable Trusts, Immigration Investors, Discretionary Trusts, etc.

Call Staples Rodway Asset Management on
0508 220 022 to discuss your investment options

Investment Dashboard - a weekly summary of economic and market events
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Investment Dashboard

18 July 2016

IndicesCurrent1 Year Change %
S&P 5002,161.743.91%
ASX 2005,429.572.06%
NZX 507,072.8820.83%
HK HSI21,659.25(11.26%)
CommoditiesCurrent1 year change %
Oil (Brent) USD/bbl47.99(15.97%)
Gold USD/t oz1,337.3917.02%
ANZ NZ Commodities179.70(5.90%)
Whole Milk Powder2,062.0011.58%
CurrencyCurrent1 year change %Since 31 Mar %
NZD:USD0.71169.09%2.97%
NZD:AUD0.93906.19%4.13%
NZD:JPY74.6122(7.81%)(4.04%)
NZD:GBP0.53950.539512.33%
InterestRate %Term DepositsRate %
OCR2.25%30 days2.85%
90 Day BB2.37%60 days2.25%
2 year swap2.20%90 days3.30%
10 year swap2.60%180 days3.60%

Weekly Data Comment

  • Equity markets improved over the week with the Hong Kong market particularly strong.
  • Gold lost ground from last week but remained up 17% annually.
  • The strong appreciation of the New Zealand dollar against most currencies came to a halt with a reversal in current exchange rate trends.
  • Short term rates maintained a downward bias in contrast to long term rates that ticked up as the US economy continued to show positive signs.

Chart of the Week

Risk aversion or the ‘risk off’ trade has seemed prevalent in offshore equity markets for a considerable period of time, starting in January 2015. This risk off outlook and accompanying volatility of returns is in direct contrast to the New Zealand equity market which has continued a largely unimpeded upward progress over the last five years. The New Zealand S&P/NZX 50 Gross index is now in excess of 7000. Although the United States equity market in US$ terms experienced significant pull backs in mid-2015 and early 2016 confidence appears to be returning to United States equities with the S&P500 also reaching record levels. This lift in United States equities is despite the Financial Services, Energy and Healthcare segments of the market experiencing weakness (Financial Services particularly).  The ability of the S&P500 to improve despite Financials comprising over 14% of the index is demonstrative of the broad economic representation  within the North American market.

sram 12.7

Economics

  • The RBNZ is to give a previously unscheduled economic assessment on 21 July. The economic assessment will not include an OCR review decision.
  • New Zealand’s population officially exceeded 4.7 million last week.
  • ANZ job ads were up 0.5% in June the fifth consecutive month of rising job ads. Construction has fuelled employment demand.
  • The ANZ Roy Morgan Consumer Confidence measure dipped slightly in July from 118.9 to 118.2 but remained in line with historical averages.
  • The BNZ BusinessNZ PMI for June was 57.7 up 0.5 on May.
  • Electronic card spending seasonally adjusted in June rose 1.2% compared to May. All six retail industries experienced an increase in spending. In absolute terms spending was up 6.8% on June 2015.
  • Domestic guest nights were down 6.4% in May 2016 compared to May 2015. In contrast international guest nights were up 9.7%.
  • New Zealand food prices rose in June by 0.4% from May but were 0.5 % lower than last year.

Offshore

  • United States industrial production was up 0.6% in June but as a whole industrial production annually has been down in 3 of the last 4 quarters.
  • The United States Beige Book which reviews economic performance across the United States economy found that the economy was expanding at a modest pace.
  • China’s second quarter economic growth was recorded at 6.7% annually.
  • The International Air transport Association (IATA) reported a 4.6% rise in global air passenger traffic in May compared to the same month in 2015.
  • Australian full time jobs increased by 38,400 in June but part time employment fell by 30,600 jobs. Unemployment increased to 5.8% as the participation rate increased.
  • Australian iron ore prices moved back up to 2 month highs at US$59/ tonne.
  • The Bank of England in its first post referendum monetary policy statement held fire and left the benchmark rate at 0.5%.
  • Deutsche Bahn the German rail company was the first non-financial company to sell negative yield bonds in the Euro zone. German 10 year Bunds at the end of the week edged back into positive territory.

Bonds

  • $100 million of New Zealand Government inflation linked bonds maturing September 2035 were tendered at a yield of 1.85% (plus inflation).
  • The next New Zealand Government nominal bond tender is $150 million of April 2025 2.75% coupon bonds on 20 July.
  • ANZ Bank made a subordinated note wholesale issue of Japanese Yen 10 Billion with a fixed rate of 0.952% due July 2028.
  • Fonterra has reset the interest rate on its FCGHA capital notes from 4.94% to 4.38%.
  • AA- rated Export Import Bank of Korea made a kauri bond issue of $150 million maturing July 2021.

New Zealand Equities

  • Golden Wing Mau Agricultural Produce has acquired 19.99% of T&G Global. German company Baywa retains 73% ownership.
  • Turners has reached agreement to purchase Buy Right Cars for $15.3 million plus stock.
  • Downer EDI in conjunction with joint venture partners has been awarded one of the first Auckland City rail contracts. Downer EDI has secured over $1 billion of New Zealand contract revenue for the 2017 financial year.

For further details email investments@staplesrodway.com or call 09 309 0491 and speak to Michelle, Wayne, Will or James.

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Contact one of our Investment Advisers today

At Staples Rodway Asset Management our advisers are passionate about ensuring that clients receive impartial advice and investment solutions that put the client’s interest first.

  • Will Roberts
    Senior Investment Adviser (AFA)
  • Michelle Forster
    General Manager & Head of Advisory (AFA)
  • James Scarr
    Senior Investment Adviser (AFA)
  • Wayne Powell
    Senior Investment Adviser (AFA)

The Anti-Money Laundering and Counter Financing of Terrorism Act 2009 (AML/CFT Act) came fully into force on 30 June 2013, for the following purposes:
a)    To detect and deter money laundering and the financing of terrorism; and
b)    To maintain and enhance New Zealand’s International reputation; and
c)    To contribute to public confidence in the financial system.
The AML/CFT Act applies to banks and most financial institutions, and it is essential that we comply. We have implemented additional requirements for verifying identification and addresses for our investors.
Staples Rodway Asset Management Ltd is a member of an approved Dispute Resolution Scheme. If you have a complaint about Staples Rodway Asset Management Ltd, in the first instance you should contact Graham Duston, CEO of Funds Administration New Zealand Limited, (03) 963 4916. If a satisfactory outcome cannot be found then you can contact the Insurance and Savings Ombudsman (ISO) on 0800 888 202, P O Box 10845, Wellington 6143 or at info@iombudsman.org.nz. This service will cost you nothing, and will help us resolve any disagreements.

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