Share it out meeting of mirth and minds

Michael Cullen and Bruce Sheppard were doing just that yesterday. Picture / Paul Estcourt

Their styles couldn't have been more different: Finance Minister Michael Cullen in a suit and tie and New Zealand Shareholders Association chairman Bruce Sheppard in shorts and sandals.

The pair traded quips - among more serious discussions about tax - in front of a record turnout of about 150 at the association's annual meeting in Auckland yesterday.

"It's a pleasure to have you here. We actually had heard from a number of sources that you'd been piking out of engagements," said Sheppard, as he drew roaring applause while thanking the Deputy Prime Minister for his address.

"We had a bit of a sweepstake beforehand over whether we'd see the monkey or the organ grinder."

Cullen spoke about the NZ Superannuation Fund investment philosophy and portfolio and changes to the taxation of overseas investment.

The political chat was signalled as a sign of things to come for the association, fired up over capital gains tax and people's lack of savings.

Sheppard, who was re-elected at the meeting and described as the body's "visionary", said it would lobby "Helengrad" on core issues in the manner it had lobbied company directors.