NEW ZEALAND FINANCIAL PLANNING
NEW ZEALAND FINANCIAL PLANNING COMPANY LTD.
CALLUM FORBES
www.nzfp.co.nz
NEW ZEALAND FINANCIAL PLANNING
Understand wealth creation 理解财富创造
Assist you to 协助你 :
Role of the Financial Planner
Manage money more effectively 更有效地管理财富
Set financial and lifestyle goals and objectives 设立财产和人生的目标和期望
NEW ZEALAND FINANCIAL PLANNING
Assess risk 评估风险
Formulate investment strategies 组建投资策略
Protect you and your assets from loss 保护你和你的资产
Assist you to 协助你 :
Role of the Financial Planner
NEW ZEALAND FINANCIAL PLANNING
Your financial plan is a function of your financial objectives
Provide steady income 提供稳定收入
Targeting a specific objective – e.g. world trip 特定目标—例如,周游世界Capital growth
to provide for retirement 资产增值以供退休享用
Save for your family’s education为家庭教育结存Provide an inheritance for
your children/grandchildren 为你的后辈提供遗产 Objectives vary
widely ! 目标多种多样
NEW ZEALAND FINANCIAL PLANNING
Where Will the $’s Come From? 钱来自何处?
LIFESTYLEASSETS 生活资产:
Home 房子
Chattels 动产
Cars 车
Boat 船
Bach 艺术品
Collectibles 收藏品
INVESTMENT ASSETS 投资资产
Income 收入
Cash 现金
Bonds 债券
Growth 增值
Property 物业
Equities 证券
Income 收入
___________
Own Business
Or
Employment
自己的生意或雇佣
Save结存
Spend支出
Spend $? 花费
NEW ZEALAND FINANCIAL PLANNING
Why do the majority fail to achieve financial independence?
Lack of planning 缺少规划 Lack of knowledge 缺少知识
Lack of discipline 缺少约束 Poor investments 不良投资 Procrastination 延迟 Dependence upon “someone else” to be responsible
for their financial future 依赖“别人”负责自己的未来财富
NEW ZEALAND FINANCIAL PLANNING
The ProcessStep 1• evaluate current position 评估现在的位置
• establish objectives•创立目标
Step 2• prepare plan•准备计划
Step 3• implement plan•执行计划
Step 4• monitor and update•监控和更新
MinimiseIncome
Tax收入税最小化
Investment Strategies to Optimise Risksto a Personal Level of Risk 风险控制
Asset Protection
Programme资产保护计划
Future RetirementPlanning退休计划
NEW ZEALAND FINANCIAL PLANNING
The Financial Planning Pyramid
Investment
Planning
投资计划
Risk
Management
风险管理
Cash Management
现金资产管理
Estate Planning
财产规划
NEW ZEALAND FINANCIAL PLANNING
Your plan reflects:
Your investment time horizon – a greater proportion of growth assets is appropriate for a longer time horizon 投资时间 -- 大部分的增值型资产适合长期性投资
Your tolerance of volatility in returns – a lower risk tolerance implies less growth assets and more income assets 你的回报波动承受能力—低风险承受能力意味更少的增值型资产更多的收入型资产The need for DIVERSIFICATION 需 要分散投资
These change over time! – (your adviser monitors this) 这是不断变化的(你的顾问监控这些方面)
This does not change! 这是不变的!
NEW ZEALAND FINANCIAL PLANNING
Speculation and DiversificationWhat Was Hot… And was not in 1-5 yrs? What Was Smarter?
1985 Life Insurance Investment ProductsManaged Futures Funds
to Non-bank Debentures/DepositsNew Zealand Investment Company Shares
1990 Australian Unlisted Property Trusts
1991 Capital Stable Fundsto NZ Small Company Shares1995 Phone Cards
1996 Investment Platesto Emerging Markets Funds2000 Ostriches and other exotic animals
2000 Contributory Mortgagesto Index Funds2002 .com Shares
Balanced Portfolio - shares / property / fixed interest / cash: NZ & overseas.
See above
See above
See above
NEW ZEALAND FINANCIAL PLANNING
Asset Risk / Return Equation
Volatility of Returns (Standard Deviation)
ExpectedLong TermReturn (%)
Cash
Fixed Interest
Property
Shares
NEW ZEALAND FINANCIAL PLANNING
World Share Markets - 20 Year Returns
0.00
200.00
400.00
600.00
800.00
1000.00
1200.00
1400.00
1600.00
Ma
r-8
2
Ma
r-8
3
Ma
r-8
4
Ma
r-8
5
Ma
r-8
6
Ma
r-8
7
Ma
r-8
8
Ma
r-8
9
Ma
r-9
0
Ma
r-9
1
Ma
r-9
2
Ma
r-9
3
Ma
r-9
4
Ma
r-9
5
Ma
r-9
6
Ma
r-9
7
Ma
r-9
8
Ma
r-9
9
Ma
r-0
0
Ma
r-0
1
Ma
r-0
2
Date
Valu
e o
f $100
FTSE MSCI Nikkei S&P500Data supplied by Fundsource - 31 March 2002
NEW ZEALAND FINANCIAL PLANNING
Percentage of Time Periods SharesOutperformed Bonds Since 1900
NEW ZEALAND FINANCIAL PLANNING
Inflation Risk: Shares vs. Property & Fixed Income
Annual Inflation - Returns over 20 Year Rolling Periods, 1956 - 2002, Pre-Tax.
NEW ZEALAND FINANCIAL PLANNING
STRATEGY 策略
ASSETALLOCATION 资产分配
Your
Objectives
Risk Tolerance
Diversified Portfolio Approach
Property Shares Interest
SECTORALLOCATION 区域分布
NZ NZ
NZGlobal Global Global
Individual InvestmentsIndividual Investments
NEW ZEALAND FINANCIAL PLANNING
The Benefits of Share Diversification 分散投资的好处
0
20
40
60
80
100
120
140
1 2 4 6 8 16 30 50 100 1000
Company Risk
Market Risk
NEW ZEALAND FINANCIAL PLANNING
A Global Perspective
Rest of the World 99.8%
New Zealand 0.2%
NEW ZEALAND FINANCIAL PLANNING
The Effect of Diversification Off-Shore on Risk & Return
AverageAnnual
Returns(NZ$)
Risk (Annualised Standard Deviation .%0)
8
9
10
11
12
13
14
14% 16% 18% 20% 22%
International100% - 0%
75% - 25%
50% - 50%
25% - 75% Local0% - 100%
NEW ZEALAND FINANCIAL PLANNING
Managed FundsAdvantages 优点
Professional Management专业管理
Diversification 分散投资 Liquidity 流动性 Purchasing power 购买力 Economies of Scale 规模效应 Automatic reinvestment 自
动再投资 Regular contributions 定期回报 Regular reporting 定期报告 Independent research 独立研究
Disadvantages 缺点
Less hands on control 更少的插手控制机会
Taxation issues 税务问题
NEW ZEALAND FINANCIAL PLANNING
Direct Funds
Advantages 优点 Disadvantages 缺点
Greater sense of control更大的控制
Seems a simple way to invest 看似投资简单
Less opportunity to spread risk更少机会来分散风险
Your money isn’t being looked after full-time by investment specialists 你的钱没有投资专家的专职看护
Can be costly 可能成本高
NEW ZEALAND FINANCIAL PLANNING
Your Investment Should Have These Elements
Security 安全The ability to beat inflation 抵制通货膨胀Visible growth potential 可见的增值潜力Easy to invest in 易于投资 Income tax concessions 降低收入税Flexibility 灵活Professional investment management 职业投资管
理
NEW ZEALAND FINANCIAL PLANNING
Portfolio Management Service(PMS)
CLIENT
JACQUES MARTIN NZ LIMITED
INVESTMENT WHOLESALE
NZFP
NZGT
Administration
Trustee/CustodianFunds
Management
ManagementResearchAdviceCommunicationMonitoringAsset Allocation
NEW ZEALAND FINANCIAL PLANNING
Evaluation
• Your feedback would be appreciated.
• Contact:– Callum Forbes– [email protected]– www.nzfp.co.nz
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