We had a great turn out of 25 guests and 45 members- all keen to hear from the expert on capital markets and investing- Brian Gaynor, Executive Director (and co-founder) of Milford Asset Management.
Brian provided us with his in-depth analysis of the capital market from around the world and what it means to us in New Zealand. Compared with other countries (such as the US or Australia), New Zealand is small and subsequently the choices are limited for investors. While the number of IPOs are higher in Asian countries (e.g. Indonesia, Korea, Thailand), New Zealand and Australian investors do not tend to invest in those markets because the reporting and accounting standards are different. New Zealand is still highly regarded by foreign investors seeking attractive dividend yields and a safe and stable political system.
Brian also commented that the recent Tax Working Group's capital gains tax proposal would likely negatively impact New Zealand shareholding investors, business owners, and retirement scheme (including KiwiSaver) members amongst others.
During the Q&A session Brian commented that New Zealand overall fares better than other markets such as Europe where Brexit and other political uncertainty still looms large. While Brian said he doesn't think the European markets will crash, the outlook is not as positive as US and other global markets currently. Here in New Zealand, while things are relatively steady, there are signs that economic growth is slowing as with the rest of the world, and there is no doubt we are late in the market cycle. However, opportunities to invest in good quality companies can always be found- we just have to look a little harder.
Brian acknowledged that he’s not against a fair Capital Gains Tax (CGT) as there is a widening gap of inequity in New Zealand. The Government's main objective for the proposed CGT is to redistribute some of the nation's wealth to those in the lower socio-economic levels of society rather than increasing the overall amount of tax revenue raised.
In a surprise response to the formal thanks given by Andy Picot on behalf of our Club, Brian said that he is personally grateful to Rotary for an opportunity that changed his life. More than 40 years ago, he was selected as a Rotary Ambassadorial Scholar from Ireland to the US where he attended the University of Georgia alongside 40 other international scholars from around the world. This was his first time outside of Ireland and changed his worldview. Coincidentally, Club member and Past President Sheila McCabe and I were also Rotary Ambassadorial Scholars some time ago. This is another great example of how Rotary does make a positive difference and helps to change lives.
We also had a banner exchange (my 7th one this year - including the 3 brought back from India & Sri Lanka) with Rotarian and IPP Tak Keung Wong from Kowloon West Rotary Club in Hong Kong.
Our Club must be doing something right to attract all these visitors from around the world- especially given our early start in the morning!
A quick reminder that our Rub Shoulders Event at Diane & Nigel Davidson's home is on 17th March- this Sunday. For those of you who have registered previously for the 12th Mar, please make note of the change and if there are any changes to your schedule, please advise Diane or Gill for catering purposes.
Below the 2019 Club Car The Viking Express (a 1997 Saab 900CSI) and my Ute the same one I used last year a 1993 Nissan – its only done 350,000 ks so it needs to do another 5000 and carry a reluctant navigator – when we travel through Molesworth Station at the top of the South Island I will stick a tow rope in the back however I won't tell Sue that we may need this, just to be on the safe side. Like last year instead of giving Little Red to be auctioned off I have already given the organizers $2000 so that I can have the pleasure of driving it back to Auckland without Sue though, as she will fly home to Auckland, and last year at Mill Brook Sue reckoned every bone was bent and so it cost me a grand in massages for her. Its quite interesting rocking up to Mill Brook in Little Red. Last year Sue received the wooden spoon because she suggested that the Organisers hold up the rally when we were in Wanganui for a couple of hours so that the Ladies could get their hair done – that really went down well and she received the wooden spoon at the next morning meeting for that one. Wish me luck Cheers Bryan
What started off as a slightly bizarre idea between a few members of the Half Moon Bay Rotary Club has turned into our main fund raiser.
Buy an old car and drive it through to Bluff from Auckland on “roads less travelled” or secondary roads. Why? Well it is better than working! So that’s what the few did. They had a ball and saw parts of the country they had not seen for a long time.They realised there was the makings of a fund raiser in the idea. So, we registered the name; set up the Bangers to Bluff web site and the rest is history.
Money is raised through the car registrations; sponsorship; donations and the selling of the cars by auction in Invercargill.
In 2019 our route will take us via East Cape (we can’t wait); Gisborne; Dannevirke; Blenheim; Hanmer Springs; Tekapo; Wanaka; TeAnau; Manapouri; Invercargill. 2020 is not that far away. Come along and join us.For Info go to www.bangerstobluff.co.nz or email Brian Hedge at hedgebj@hotmail.com . Follow us on Facebook for updates on the rally which commences 2 April 2019.https://www.facebook.com/bangerstobluff/
As part of our continued focus on Child and Adolescent Mental Health awareness, our Club is pleased to welcome Professor Sally Rogers (Downtown Rotary Visiting Scholar) to Auckland on the 18th & 19th March. Professor Rogers will have two speaking engagements- the first on the 18th is open to the public and the 19th will be held during normal Rotary breakfast meeting hours.
Information below is for the 18th March session:
Members are invited to participate in pre-drinks & nibbles prior to the public seminar.
Date: Monday 18 March
Time: 5-6pm
Location: Grafton Atrium, Faculty of Medical & Health Sciences, 85 Park Rd, Grafton
Kindly RSVP by Wednesday 13 March for catering purpose to Ranjeeni Ram r.ram@auckland.ac.nz
2. Public Seminar – Monday 18 March
Date: Monday 18 March
Time: 6-7pm
Location: 501-110, Level 1, Faculty of Medical & Health Sciences, 85 Park Rd, Grafton
Kindly see below advertisement for public seminar. Please RSVP by 14 March to Ranjeeni Ramr.ram@auckland.ac.nz
3. Car parking
We have 10 visitors carpark available (on first come first serve basis). Kindly email Ranjeeni r.ram@auckland.ac.nz to reserve a carpark.
Please provide car make, colour and registration number (plus your full name ) to Ranjeeni.
Every year our Club has sent a number of well deserving young adults to RYLA (Rotary Youth Leadership Awards). We need volunteer interviewers to help with the selection process. Please contact Suzanne O’Leary for more information.
To celebrate 30 years of “Woman in Rotary”, D9910 & D9920 invite you to a “Fun 5km Walk” around Wynyard Quarter & Westhaven area on Saturday 6th April. (Rain, hail or shine, we are doing this……)
We will gather from 9am for a 9.30am start, at Wynyard Quarter Playground (Jellicoe Rd). Please note we will start & finish at the same spot for ease of parking. Gold coin donation for all attending, going to Polio Plus campaign.
As we want to promote Rotary, please wear Rotary branded t-shirts and/or caps. We have a limited quantity of new, bright lime green “Woman in Rotary” t-shirts for a $10 donation (Polio Plus for D9920). First in, first served for the current allocation, so pre order via e-mail to Leanne. Note t-shirt sizing on the small side, so it is recommended to go up one from your usual size (S,M,L,XL,2XL available).
Afterwards, head home to continue your day, or stop for a well-deserved coffee or something stronger. Lots of great cafes & restaurants around the immediate area. Register interest via e-mail to Leanne leanne@searlegroup.co.nz On registration, we will send you a map of the walk with additional information for the event.
Pam Deal shared with our Club a way to help the Rotary Club of Henderson fundraise for a major project aimed to send all Year 12 students from all West Auckland High Schools through the Roary Youth Driving Awareness (RYDA) driver education course.
All you need to do is vote online at www.milliondollarmission.co.nz from 1st March 2019
Each vote is worth $5 to The Trusts who will donate to the program.
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