Midlands Mortgage Trust general manager Peter Harrison says the group investment funds' FMA licensing has helped kick-start a growth phase.
Midlands Mortgage Trust general manager Peter Harrison says the group investment funds' FMA licensing has helped kick-start a growth phase.
Midlands Mortgage Trust, a Hastings-based investment company specialising in first-ranked mortgages over New Zealand property, is focusing on growth following the licensing of its manager, Fund Managers Central Ltd, by the Financial Markets Authority and new board appointments.
"We now have a robust platform under the new legislative regime andare well positioned to develop new opportunities," general manager Peter Harrison said.
"We have been through a rigorous accreditation process which has seen us strengthen our governance, appointing an independent chairman and rationalising the board over the last 12 months as well as adding staff resources focused on compliance."
Former Farmlands Cooperative chief executive Peter Ellis has been appointed chairman and Dunedin businessman Peter Hutchison and Central Hawke's Bay farmer/broadcaster Steven Wynn-Harris have joined existing board members Ken Horner, Graeme Throp and John Campbell.
"We are already seeing the benefit of these appointments through the development of a new strategic plan," Mr Harrison said.
"The trust's investment portfolio has already grown by 10 per cent in the last month with the acquisition of funds previously managed by a Hawke's Bay law firm."
