A private funeral for financier Allan Hubbard is to be held in Timaru today.

Mr Hubbard, 83, died and his wife Jean, 82, was hurt when their car and a ute collided near Oamaru last month.

Mrs Hubbard, who was taken to in Dunedin Hospital, made the trip to Timaru for today's funeral, Peter Jones of Aoraki Funeral Home said.

A public memorial service will be held in Timaru on October 8.

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Mr Hubbard's business, South Canterbury Finance, went into receivership on August 31 last year.

It triggered a record bailout under the Government's deposit guarantee scheme, giving $1.7 billion of taxpayers' money to 35,000 investors.

Mr Hubbard faced fraud charges. They were dropped following his death.

A decision has yet to be made on whether Mrs Hubbard will be released from statutory management.