NZI Investment buys into U.K. research
PA Wellington The NZI Investment Corporation, the investment and fund management division of NZI Corporation has purchased a 50 per cent shareholding in Investment Research of Cambridge, Ltd (IRC). IRC was formed in 1945 and is one of the United Kingdom’s oldest and most highly regarded firms involved in investment advising research and charting. The purchase will be made through NZI Investment Services, Ltd, the operating subsidiary of the division in the United Kingdom, and the remaining 50 per cent equity interest of IRC will be retained by the existing shareholders, Messrs David Charters and John Cunningham. IRC is principally known for its investment products relating to technical analysis, which are used extensively by priv-
ate individuals and institutions in the United Kingdom and the United States.
IRC is based in Cambridge, employs 21 staff and has an annual fee income of aproximately SNZI.2M. Mr lan Arkle, the general manager of NZI Investment Corporation said, "The association with IRC is a new development for our division in the United Kingdom, where it is now planned that our world-wide fund management services will be offered through IRC connections in the United Kingdom and Europe, and, in turn, existing IRC products will be marketed through the NZI worldwide network.
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Press, 10 February 1986, Page 32
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213NZI Investment buys into U.K. research Press, 10 February 1986, Page 32
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