A heatwave that saw Sydney record the hottest night ever has reached the South Island this afternoon.

Angus Fogg had a weekend to savour at the fourth round of the New Zealand Premier Race series at Levels Raceway near Timaru.

Firefighters in Canterbury are preparing to spend their Christmas Day battling a blaze that has so far burnt nearly 60 hectares of trees and pasture.

The Statutory Managers for Hubbard's say investors could receive only 60 per cent of what was on their March 2010 statements.