John Berry

While trying to remain reasoned and rational, it is really hard to see what the Coalition Governments new 2024 Budget might mean for the 1,000’s of our whanau shareholders… What this budget instead is all about is starting to lay the foundation for lifting the performance and productivity of the economy and while starting to address investing capital into health, education and law and Order. And that is admirable leading into the next General Election! But, I now start to doubt whether this new team will see-out their 1st term’ let alone contemplate a 2nd or 3rd term of Governance of Aotearoa? Canadian Council for Indigenous Business | Ministry for the Environment | Manatū mō te Taiao |Ministry for Primary Industries (MPI) | Ministry of Business, Innovation and Employment | New Zealand Trade and Enterprise | New Zealand National Party |Jacinda Ardern | British New Zealand Business Association | European Commission | European Investment Bank (EIB) | New Zealand China Council | Mangaroa Incorporation | Paul Te Poa Karoro Morgan CNZM, QSO, CFInstD | New Zealand Trade and Enterprise | Asia New Zealand Foundation

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Market-land awakes with the S&P/NZX 50 near a three-year high and the kiwi dollar at a fresh low for the year, with the size of the Reserve Bank of New Zealand’s rate cut on Wednesday attracting local attention. Wall Street ended Friday on a high in what’s a shortened Thanksgiving holiday week in the US, with the retail sector coming into focus as Black Friday and the accompanying sales loom. Meanwhile, Trump 2.0 has settled on its cabinet picks to be put forward for Senate approval, with Scott Bessant winning the race for Treasury secretary. And in climate-land, the COP29 climate summit in Azerbaijan struck a deal to triple the flow of money to developing nations, though came up well short of what those nations wanted. Swedish battery-maker Northvolt’s financial woes underline the tricky path firms face in pursuing the global electrification, although AI-world is crossing more and more into energy-land with former BP chief Bernard Looney chairing US data centre startup Prometheus Hyperscale. A strong opening weekend for blockbusters Wicked and Gladiator II will be welcomed by cinema stocks (and presumably cinema software stocks such as Vista). Something for tax junkies to digest with The Australian Financial Review reporting that Australia is dragging its heels in signing the transfer pricing element of the OECD - OCDE’s plans for a global tax overhaul over concerns it will dent federal government revenue. NZ has the digital services tax up its sleeve it the rich nations club can’t reach agreement on global cross-border tax rules. Locally, Stats NZ will release retail sales for the September quarter and October merchandise trade figures, while earnings season continues on apace with Kiwi Property, EROAD, Radius Care and Turners Automotive Group due to report. 

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Investors can play a crucial role in the transition to net zero. Their actions can avoid investments in the fossil fuel companies that are still expanding their exploration and production, direct capital towards businesses on a 1.5 degree pathway, influence company policy and invest in climate solutions. These were the issues probed in our third annual survey of the New Zealand investment sector. However, with a few exceptions, progress in New Zealand has been slow. For example, only 30% of those surveyed have put in place a transition plan, compared with around two thirds in Australia. Currently, most fund managers that are Reporting Entities (those managing over $1 billion of assets under management) are about to publish Climate-Related Disclosure reports. We look forward to that climate reporting being a tool for action rather than a tick-box compliance requirement. An acceleration of action would mean the finance sector can make its own transition - from being a part of the climate problem to being a driver for the solution.

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CBUS and CFMEU-who pays the fines? An interesting article in today's Fin Review on who should pay possible fines of ~ $20m for CBUS leaving families stranded for up to a year in paying out death and disability insurance claims. Liberal senator Andrew Bragg points out that the members themselves will end up paying the fines. “Regulatory fines committed by Cbus trustees for insurance failures will be paid by members – not shareholders.  “If super funds want to keep paying dividends to the CFMEU, the CFMEU and all the shareholders should pay the fines." Maybe ASIC should be looking at the proud advertising statement of CBUS and other Industry funds "Profits go back to the members." https://lnkd.in/g-8jzkr4

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With so many different thoughts about GreenTech and how you support startups in this space, I’m looking forward to attending this panel discussion.

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US citizens need to carefully plan their financial affairs when moving to New Zealand. In this insightful interview with Julia Johnston from Johnston Law, we cover 5 key financial topics that every US expat should consider: 1️⃣ Understanding key tax issues: What should new migrants know about New Zealand’s tax system? 2️⃣ Investments & Retirement Planning: How do taxes affect your investments and retirement savings as a US expat? 3️⃣ New Zealand’s Property Relationships Act: What are the legal implications for new migrants? 4️⃣ Wills and Estate Planning: What advice should new migrants consider when updating or creating their Wills? 5️⃣ Enduring Power of Attorney: What is it, and why might it be essential for your time in New Zealand? I hope you find this video helpful! Feel free to leave any questions or thoughts in the comments. A huge thank you to Julia for sharing her invaluable expertise with us! 🙏 https://lnkd.in/g5csuH2J Pacific Wealth (NZ)

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Treasurer Chalmers, seemingly fuelled by far too much premium priced caffeine has recently made a series of ironic accusations, blaming the #RBA for problems that are in reality a direct result of years of overly-interventionist government policy (aka spending) and inflationary wealth redistribution. Conversely, Governor Bullock has been doing an admirable job managing the #monetary plumbing of #Australia, skilfully pulling the right levers (limited as they are) to achieve the Reserve Bank's objectives. Yesterday, the Governor gave a masterclass on this. Hopefully, the Treasurer was listening as the Governor rolled out and explained one chart that sums up why her board is doing what it is doing. Tap the #coffee cup to learn more. #markets #investing #economy #technology #business #finance #ceos #cfos #familyoffices #familybusiness #gold #silver #bitcoin #crypto #copper #oil #uranium #collectibles #wine #fineart #nfts #sustainability #future

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Following the excellent article in the AFR about the "Wealth Effect," also see the presentation from Livewire Live. In this article, I detail the social, investment, and monetary policy effects of Australia's substantial and expanding superannuation pool. https://lnkd.in/gqrFCGCq https://lnkd.in/gBspnjRa #superannuation #wealth #investment #afr #livewire #investing #property

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“Anyone got the time …?” and if you attended HNW Advisor, clearly not … The underlying tone was tax, residency/domicile and the impact post the forthcoming general election with ideas on how to cushion the blow and/or rethink the game plan altogether for HNW families. The “head in the sand” is the usual approach by professional advisory (clients guilty too) but there is a real need to get proactive if all the options that are open now can be explored pre April ‘25. Failure to “do the needful” as is common parlance in GCC/SubContinent, may result in limited or no choice on how your affairs can be mitigated or optimised. 😳 The Slido survey highlighted that 75% of the private client audience had no idea about private placement or insurance based solutions was very telling. This needs to change if clients are to have any chance of tackling fiscal problems with robust solutions to protect generational wealth. If you don’t know what PPLI, VUL, WOL, DVA, PPVA etc is then PSM or DM, TTFN. PS Thanks to David Bell and his team for another slick event and my host Cécile Civiale Vuillier, TEP and all at TrustConsult Group #HNW #Tax #Advisory #PCD

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It is saddening to learn of the retirement of the great and inimitable Michael Stutchbury, the longest-ever serving editor-in-chief in the Australian Financial Review’s seven-decade history. The good news is that Stutch will be succeeded by the talented James Chessell, who has long been viewed as possessing the journalistic horsepower, management nous and stakeholder relationships required to lead one of the most profitable and important newspapers on the planet. Stutch was basically my first boss when I joined the AFR 12 years ago as a contributing editor, punching out three columns per week. While his formidable intellect and policy prowess meant that Stutch had robust instincts on everything, I have never met a more thoughtful, dispassionate and committed media leader. Stutch combined bona fide brilliance with terrific intuition and the resolve to rise above the nontrivial pressures that editors are inevitably subject to as vested agents continuously seek to influence them. He was simply the best and will be hard to supersede. Stutch was most focused on bringing new stories to light, shaping the public agenda, developing sophisticated policy debate, fostering top-notch journalistic talent, and ensuring that the AFR emphatically dominated its space. And that is what he has delivered: taking a wilting paper that barely made money with scores of rivals circling the wagons and transforming it into an immensely profitable and dominant quasi-monopoly in the Aussie market for financial news and ideas. What will probably be lost in the history and analysis of the AFR was that this was all driven by Stutch’s edge in content creation. It had little to do with fancy management strategy, cost optimisation, product development, and/or conventional commercial matters. Stutch’s business strategy was to always focus on cutting-edge news and analysis across a very diverse spectrum of subject channels. That was the AFR’s competitive advantage: out-think, out-write, and out-produce the competition. With Stutch, you always had the sense that he would back you if could present a well-thought-through proposal, irrespective of how weird or wonderful it might be. How about the Coalition wanting to buy Virginia Class nuclear submarines all the way back in 2012, which many thought preposterous at the time? Stutch put my story on the front page, which would be vindicated a decade later. This columnist certainly tested Stutch's preparedness to support unconventional angles, which in my early years writing for the AFR included breaking contentious global new stories on cyber wars, Huawei spying for China, interviewing top spooks at the CIA, NSA, ASIO and ASD on various scandals, penning a Lunch with the AFR column with the divisive Kings Cross identity John Ibrahim, and ruffling feathers across the banking, financial and, occasionally, political landscapes. My thanks go to Stutch, to whom we are all deeply indebted. You are a brilliant newspaper and digital media man.

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Ethical Growth with Our Balanced Fund! Looking for a KiwiSaver option that offers long term growth while staying true to your values? The Christian KiwiSaver Scheme Balanced Fund is an ideal choice for people seeking growth while upholding Christian principles. Why Choose the Balanced Fund? ◾ Ethical Investments: Our Ethical Investment Policy works to align your savings with Christian values. ◾ Balanced Approach: With a 50/50 mix of growth and income assets, this fund is designed to achieve moderate returns over the long term. ◾ Expert Management: Managed by professionals dedicated to optimising our returns while managing risk. Fund Features: ◾ Medium Returns: Aims for moderate returns over a long-term horizon, with a balance between income and growth assets. ◾ Performance across cycles: Seeks to participate in the good times and protect members in the not so good times. ◾ Diverse Investments: Invests in a blend of cash, fixed interest, equities, and property, balancing risk and reward. Learn more about the Christian KiwiSaver Scheme Balanced Fund and view our Product Disclosure Statement. https://lnkd.in/gD2tvkFT

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USD50 billion NZ Super Fund is looking to incorporate alternative signals as a way to improve its strategic tilting strategy. This complements a broader assessment of tail risk strategies under its total portfolio approach. https://lnkd.in/eFey9CJi

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86% of NZ leaders stated that their organisational culture directly influences how they take calculated investment risks. 91% confirmed it impacts their focus on long-term goals, while 83% said it shapes their preference for a growth-oriented investment approach over a more conservative, "safe pair of hands" strategy. Do you agree? How do you reward and incentivise these behaviours? This is based on 143 responses from organisational leaders. We’ve seen strong engagement from the not-for-profit sector, but we need more participation from for-profit, local, and central government leaders to provide you with meaningful results. Thank you to BusinessDesk NZ for publishing an article yesterday afternoon. The article is in the comments with a survey link. Rhiannon McKinnon, Kalyn (KP) Ponti, Brooke Roberts, Sophia van Zijl, Tahana Tippett-Tapsell, James Lee, Michael McCarthy, Claire Matthews, Dr Jeffrey Stangl, CFA #Leadership #Governance #OrganisationalCulture #InvestmentStrategy #NZBusiness #BusinessDesk

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In less than a decade the financial planning sector has been utterly changed resulting in 13,000 fewer advisers and no institutional dominance. https://lnkd.in/gzQqjtGP #amplimited #capstone #commonwealthbank #entireti #fiducian #fofa #paragem #viridian #wealthdata

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Happy Friday! Shaw and Partners has just released the June Quarter 2024 edition of the Research Monitor. INSIDE THIS ISSUE: ✅ Q1 2024 Performance. The best performing Australian equity sector was Software and Services, up 24.5% including dividends. ✅ China’s Property Pile up. China is building 2.9 times as many houses today than there are in Australia right now ✅ Iron ore is Australia’s largest resource export at A$124b value in 2023, ahead of LNG at A$92b. ✅ Talkin’ about an AI revolution. Microsoft (MSFT) is benefitting from its early lead in AI to upsell its security suite. ✅ Copper: the missing ingredient of the energy transition. S&P Global recently estimated demand for refined copper will double by 2035. ✅ Offshore wind. There are over 2,000 GW of coal-fired power stations that need to be replaced. ✅ Gold price and gold share price divergence. Since 2010 the gold price has increased +250%, recently maintaining levels above A$3,000/oz. ✅ Come fly with me, let’s fly, let’s fly away. Aussie Travel Bounces Back. ✅ Sleep well at night with travel sector tailwinds. WebBeds is growing faster than their peer group. ✅ Shaw and Partners Model Portfolio Stock recommendations: S&P/ ASX 100 Large Caps: Aristocrat Leisure (ALL), Domino's’s (DMP), Evolution Mining (EVN), James Hardie Industries (USA), Inc. (JHX), Pilbara Minerals Limited (PLS), Qantas (QAN), ResMed (RMD), Suncorp Group (SUN), Treasury Wine Estates (TWE), Xero (XRO). S&P/ASX Emerging Companies: ABACUS STORAGE LIMITED (ASK), Bannerman Energy Ltd (BMN), Black Cat Syndicate Limited (BC8), Global Lithium Resources (GL1), Helloworld Travel Limited (HLO), Metro Mining Ltd (ASX:MMI) (MMI), Retail Food Group (RFG), Tyro Payments (TYR), Vista (VGL), Webjet Limited (WEB). Reach out if you would like a copy. #shawandpartners #economics #investing #money #wealthmanagement #financialservices #realestate #technology #cyber #interestrates #software #supplychain #energytransition #agriculture #australia

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Three multinational-owned companies exploit and pollute Macquarie Harbour while paying no taxes, backed by the foreign funded lobby group Salmon Tasmania, but somehow our group of 120+ Australian shareholders are ‘potentially affecting national sovereignty’ by trying to stop an extinction? Australia has some of the least democratic rules in the world when it comes to shareholder participation in the companies that we own. It is so difficult for shareholders to propose an advisory resolution in Australia that a single US company, Amazon, had 6 times as many shareholder resolutions in 2023 as the entire ASX. 100 shareholders working together isn’t a ‘loophole’, it’s an almost impossibly high benchmark required for one of the most basic of shareholder rights. There’s nothing sneaky about it, SIX has a mission to make the corporate world more democratic. It’s behind a paywall, so here’s my quotes from Summer Liu’s article in The Australian today. Link to the article is in the comments. “SIX co-founder and chief executive Adam Verwey said the laws were strict enough already, and any further restrictions would be “completely undemocratic” and endanger the safety of Aus­tralians. “If shareholders didn’t have the right to propose resolutions, then Johnson & Johnson would likely still be selling cancer-causing talc powders, and Dunkin’ Donuts would still be sprinkling titanium dioxide on their doughnuts,” he said. “(Salmon Tasmania) is a lobby group that is good at pretending they are representing Tasmanians while actually representing the ­financial interests of the three multinational companies that operate industrial salmon farms in Tasmania. “If you want to see who is profiting from the potential extinction of the Maugean skate, you should be looking at Coles, Woolworths, and the three multinational companies operating salmon farms in Macquarie Harbour.” Mr Verwey said Australia was more conservative on its shareholder resolution laws ­compared to “almost all Western countries”, which gave individual shareholders the right to propose an advisory resolution to a company’s annual general meeting. “Given this is so normal everywhere else in the world, why are Australian companies flipping out about the prospect of receiving an occasional shareholder resolution,” he said. A Treasury spokesman said that “through routine stakeholder engagement (we have) not heard concerns within the corporate community regarding the operation of other provisions with the 100-member rule”.” SIX (Sustainable Investment Exchange) Ekō Anisha Humphreys Kelly Roebuck Environment Tasmania Ethinvest Blair Palese Trevor Thomas Tas Ethical Ethical Investment Funds Management

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