Finance companies focus of conference
This year’s FundSource conference for financial advisers reflects the changing nature of the investment community.
Thursday, February 17th 2005, 6:42AM
Normally fund managers dominate the conference, but this year it has a strong theme around fixed interest investment and finance companies, plus a presence from the stock exchange.
FundSource business manager Tim Anderson says the involvement of finance companies such as Pacific Retail, Equitable and Strategic Finance shows that this is an area the research house intends to play in.
“It’s a pretty clear indication we are moving into this space,” Anderson says.
He says there is a need for objective research that isn’t one-dimensional in nature.
Pacific Retail head of marketing Mike Frederickson says the company gets a good chunk of its funds flows via the advisory industry (although direct from the public is bigger).
He says the group’s involvement in the conference is the start of a greater involvement with advisers. “This is our opening bid,” he says.
Frederickson says that Pacific Retail has been under the shadow of the PRG group and it wants to come out and show its independence. For instance it decided last year to release its results well before PRG.
He says the company has had some “bad press” which was undeserved.
“We certainly feel it was unwarranted,” he says. “There are sceptics out there and we are happy to prove them wrong. PRG is involved in a session at the conference evaluating finance company balance sheets. Frederickson says someone independent of Pacific Retail will present the session.
For more on the March 18 conference and a programme visit Good Returns’ Diary page
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