Wellington, Oct 13 NZPA - Bancorp Wealth Management has launched a Japan-registered fund specialising in New Zealand investment, after working on the project for more than two years.
The fund will allow Japanese investors to specifically invest in products and companies in this country.
In conjunction with Japanese securities company, Bansei Yamamaru Securities, the flagship Japan New Zealand Fund aimed to grow to $300 million (about 18.5 billion yen) within two years, Bancorp said today.
The Japan New Zealand Fund would provide good returns to Japanese investors and promised to increase investment in New Zealand and awareness generally of what this country had to offer, Mr Brownie said. The Japan fund would invest in Japanese-issued yen bonds, Japanese listed companies with interests or a bias to New Zealand, as well as New Zealand bonds, listed equities and private equity with a bias towards trade with Japan. The Japan New Zealand Fund was a unit trust, with the Japanese institutions participating in the offer including Sumitomo Trust and Banking, Mitsubishi UFG Financial Group and Bansei Asset Management.
Compare Credit Cards - Independent interest rate and fees comparisons for New Zealand banks.
I'm about to buy shares in Investors Bancorp (NASDAQ:ISBC), a soon-to-demutualize thrift that is undervalued. The business Investors Bancorp offers banking services in New Jersey, Philadelphia, and Long Island.
Investors Bancorp has already filed with the SEC on the projected pricing of its public offering of stock.
The bank will pay a dividend -- the amount not yet determined -- which will draw a certain investor class to the stock. Risks Investors Bancorp has made quite a few acquisitions since it first came public in 2005. The new slug of capital will make the bank's overall return on equity look miserable for a while. And like nearly all banks, Investors is exposed to rapid moves in interest rates, especially upward. Foolish bottom line In the next few days, my Special Situations portfolio will invest $500 in Investors Bancorp. Three more Foolish stock picksIt's no secret that investors tend to be impatient with the market, but the best investment strategy is to buy shares in solid businesses and keep them for the long term.
Jim is a special-situations investor focusing on transactional events (such as spinoffs, recapitalizations, or reorganizations, among others) that create advantageous stock mispricings. We were established in 1987 and have continued to grow our New Zealand and international reputation since then. While Investors Bancorp is still only a partially demutualized thrift (like TFS Financial today), it will soon become a fully public institution, like First Financial. While the pricing is not as cheap as some demutualizations, which frequently start off trading below tangible book value, the stock still looks like a value given Investors' strong operations, attractive location in New Jersey, and improving credit metrics.
After all, demutualizations often are priced at 75%-80% of tangible book, so investors may not be inclined to buy at a higher price. Even at 1.2 times tangible book, Investors Bancorp is hardly expensive for a profitable and well-performing bank. Just last year, it acquired Gateway Community Financial and Roma Financial, which ballooned Investors' assets.
The demutualization should allow the stock to trade significantly over book value as the bank puts all that new capital to work. After its 2005 IPO gave the bank a huge amount of capital to work with, Investors has consistently increased its return on equity, to 9.3% in 2013 -- a solid, if not spectacular, level.
And with that much cash, I won't be surprised to see Investors buy up some smaller rivals and expand its footprint.
We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.
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