26 October 2007

TOWER Investments named 2007 FundSource Fund Manager of the Year

TOWER Investments has taken top honours in the FundSource Fund Manager of the Year awards, making this its third win in four years. The award was given as part of FundSource's annual New Zealand Managed Funds Industry Awards. 

TOWER Group CEO Rob Flannagan said the award shows that the company has continued to deliver following a period of huge change for the industry.

"We're thrilled to receive this highly respected award, which shows that our people, performance and processes are working well and delivering results for our investors" said Mr Flannagan.

"Preparing for the introduction of KiwiSaver and the recent changes to the way invesments in managed funds are taxed has meant that there has been a lot of process changes for both TOWER and our clients, but we've worked exceptionally hard to ensure our investment offerings were not compromised over this period and would continue to perform well and deliver consistently superior returns. This award tells us we're on track."

The FundSource Fund Manager of the Year Award is well respected and based on rigorous, disciplined and independent analysis. Mr Flannagan said that with so many kiwis focussing on their savings as a result of KiwiSaver, this award should provide additional confidence to customers in choosing TOWER as their KiwiSaver provider.

"Our KiwiSaver members can select from a range of investment funds to help them grow their savings. Our successful long track record in providing superannuation products means our investors can feel confident that TOWER is committed to delivering value for investors."

As well as being named FundSource Fund Manager of the Year, TOWER also received the following acknowledgments:
                Winner - Diversified Balanced Sector
                Runner Up - NZ Equity Sector
                Runner Up - International Equity Sector

In addition to winning in 2004 and 2005, TOWER held the FundSource Fund Manager of the Year title for four consecutive years to 1998 and received runner-up awards in 2000, 2001 and 2003.

For more information on TOWER's funds please call 0800 4 TOWER (0800 486 937) or email- investments@tower.co.nz

*Per Awards announced on 26 October 2007 by FundSource, the investment strategy and research company. This Award should not be read as a recommendation by FundSource. For further advice on the relevance of this award to your personal situation consult your financial adviser, or visit www.fundsource.co.nz