Milford Funds, a unit of Milford Asset Management that discloses financial statements, more than tripled its fee income, driving up annual profit, as it reaped the benefits of strong investment returns on growing funds under management. Profit jumped to $7.36 million in the 12 months ended March 31 from $1.05 million a year earlier, as fee income surged 257 percent …

Tourism Holdings, the rental campervan operator which merged with two rivals last year, has told the receivers of Pacific Horizon it’s available to pick-up any customers left out in the cold, but won’t buy the failed firm’s assets. The Auckland-based company has already approached KordaMentha’s Brendon Gibson and Grant Graham, who were appointed receivers of Pacific Horizon yesterday, to help …

The New Zealand dollar edged up in volatile trading after Federal Reserve chairman Ben Bernanke emphasised the central bank’s asset purchase programme could be reduced more quickly or expanded depending on economic conditions. The kiwi traded at 79 US cents from 78.70 cents at the 5pm market close in Wellington yesterday. The local currency traded between 78.39 US cents and …