Prime Minister Jacinda Ardern flies into Melbourne at a time when the Reserve Bank's tussles with Australia's financial sector have raised questions over whether New Zealand is anti-business.

Australian fund managers were shocked at the blocking of AMP's A$3.4 billion sale of its NZ Life Insurance business this week. Investors have requested the doors be closed to media at their luncheon meeting with Ardern in Melbourne today.

Officials confirmed to the Herald that the decision to exclude journalists from the investors' luncheon — apart from Ardern's opening comments — related to "banking".


The lunch with 15 investors comes at