Craigs Investment Partners

It was a full house for the Tauranga Business Chamber Post Budget Review hosted at Craigs head office this morning. Mark Lister and Natalie Berkett shared their topline take on the Budget 2024 announcements and what they saw in the fine print. The headlines reflected the budget – no surprises. However, the discussion and questions showed the interest in trying to forecast and understand what’s to come especially round future RBNZ OCR changes, and how budget funding initiatives will impact NZ’s ability to get back into surplus.     #Budget2024 #BusinessGrowth 

We’ll be celebrating our 40th anniversary in the UK next month as we reconnect with Craigs Alumni across the world. Kiwis are great travellers and we’ve heeded the call to bring together our people, past, present and future in the last week of June 2024 in London to share some stories, and stay connected. We’d welcome friends of Craigs who may be in the UK at the time to join us – reach out and message us through LinkedIn if you are interested to know more. #craigsadviser Jeremy Williamson Tim Kiefte

The Reserve Bank left the OCR unchanged last week, and it seems there'll be no respite for borrowers until next year, even with the economy slowing more than expected, unemployment rising more quickly and inflation falling to the lowest level in three years. However, this encouraging outlook is tempered by the fact that most of the decline has been driven by falling international (or tradables) prices. In contrast, domestic or non-tradables inflation, is still too high to provide any relief. What is causing this high domestic inflation, and what needs to happen for it to fall? Listen to the full episode wherever you get your podcasts: Spotify: spoti.fi/3DmYj8N Apple Podcasts: apple.co/3DecQ6Q YouTube: bit.ly/3pWQF22

The Reserve Bank left the OCR unchanged last week, and it seems there'll be no respite for borrowers until next year, even with the economy slowing more than expected, unemployment rising more quickly and inflation falling to the lowest level in three years. However, this encouraging outlook is tempered by the fact that most of the decline has been driven by falling international (or tradables) prices. In contrast, domestic or non-tradables inflation, is still too high to provide any relief. What is causing this high domestic inflation, and what needs to happen for it to fall?

Last week, we hosted an Investor Day at The Winehouse, Gibbston. Attended by CFO of Auckland Airport Stewart Reynolds, CEO of Freightways Mark Troughear, Co-founder and Senior Portfolio Manager Steven Ng, Head of Research Luke McMillan from Ophir Asset Management, CEO of Summerset Scott Scoullar, and CEO of Turners Todd Hunter. Mark Lister, Investment Director at Craigs, also provided an update on the economic and market outlook. We were delighted to welcome Frances Soutter, CEO of Cure Kids, who shared insights on the charity's work in child health research in New Zealand and its impact in the region. Over 250 guests gathered to gain insights from these senior executives, showcasing Craigs' commitment to providing the Central Lakes and Otago Region with direct access to corporate leaders.

Our Investment Banking team enhances its already strong reputation and capability, with Justin Queale and Steven Sue starting in their new roles as CEO of investment banking and managing director of investment banking, respectively.   Craigs' CEO Simon Tong says Justin and Steven’s track records of leadership, significant deal experience and strategic insights are key to reinforcing the firm’s position as an industry leader.   “Craigs has played a key role advising on landmark transactions over the past decade. The appointments of Justin and Steven affirm our commitment to corporate clients and our role in New Zealand capital markets.”

Our podcast is getting a new look. Look out for the new Craigs Investment Partners On Point podcast image to make sure you don't miss an episode. As always, you can search for 'On Point' wherever you get your podcasts. Listen and subscribe now: Spotify: spoti.fi/3DmYj8N Apple Podcasts: apple.co/3DecQ6Q YouTube: bit.ly/3pWQF22

We are hosting the Tauranga Business Chamber Post Budget Breakfast event at our Head Office on Friday 31 May. Don't miss your chance to hear our Investment Director, Mark Lister and KPMG Tax Expert Natalie Berkett discuss the outcomes of the Budget and the potential impacts on your business. Tickets and more information available here: https://lnkd.in/gdeX5G6i

The latest RBNZ announcement contained a few surprises, despite leaving the Official Cash Rate unchanged at 5.5%, as expected. The market, and the Reserve Bank, will now turn its attention to the upcoming Government Budget announcement on 30 May.   We have also seen a flurry of corporate results and announcements over the past couple of weeks to keep investors busy. In this video, Mohandeep Singh, Portfolio Manager, shares his thoughts on all of these developments. 

Recently some team members from our Tauranga branch and Head Office (and their families) ventured into the bush on a Whakatāne Kiwi Trust night walk. We've supported the trust since 2018 to help promote the protection of kiwi and other indigenous species in the Whakatāne area. Over 6,000 volunteer hours go into maintaining the area, including the tireless work they put in to capture pests and rodents such as stoats.