The FMA concluded Du Val receiving 100 per cent of all profits above the 10 per cent fixed return to investors was effectively a performance-based fee and Du Val was not transparent about this. However, the regulator considered its concerns were only partially addressed and continued to see Du Val marketing materials as likely to be misleading. Importantly, we expect Du Val to make changes across all its financial product offers, not just the mortgage fund," he said. John Dalzell is Du Val Group's managing director of build to rent. Photo / George NovakBritish-born Kenyon is the CEO of Du Val Group and his Kiwi wife, Charlotte, is the COO.

Source: New Zealand Herald October 06, 2021 20:26 UTC