Pie Funds
May 23rd, 2008
Last night I attended Mike Taylor’s talk about “The New Zealand and Global Economy” and his boutique investment company piefunds [Pie Australasian Growth Fund] at South Bar on Frederick Street. Portfolio Investment Entities (PIEs) have become increasingly popular with the change in tax laws on 1 October 2007. In particular, natural persons will be taxed differently where they invest in a PIE as capital gains derived by PIEs in relation to New Zealand and certain listed Australian companies are not subject to tax. Mike stipulates that Pie Funds investment philosophy is “simple, uncomplicated and based on finding value in growth oriented companies”. Mike has worked for a number of large financial institutions both domestically and in the UK, including institutional equities dealer for ABN Amro NZ, FX Derivatives, Merrill Lynch UK, and recently as a Manager for Bank of Scotland NZ, supporting private equity bidders and large property developers with bespoke debt solutions.