Investment News

Hobson Wealth Partners has launched a triplet of portfolio investment entity (PIE) products under a fund-hosting arrangement with Wellington-based Implemented Investment Solutions (IIS). The deal marks the first domestic fund-hosting client for IIS and a return to the PIE world for Hobson chief, Warren Couillault. Couillault, previously … [Read More...] about Hobson packages mid-range PIEs in fund-hosting first for IIS

The almost $4.4 billion Government Superannuation Fund (GSF) missed its reference portfolio by more than half over the 12 months ending June 30, stung by under-performing exotic assets and a multi-factor mis-fire. According to the 2019 GSF annual report released last week, the fund, set up to partly defray the cost of government employee … [Read More...] about Alternatives the factor as GSF falls well short of benchmark

The NZX-owned Smartshares has appointed David Wong to the newly-created role of head of risk and compliance. Wong joins the $3.7 billion passive funds shop from insurance firm IAG NZ, where he was senior consultant regulatory affairs. He will “provide management and oversight of the risk environment and the changing regulatory environment … [Read More...] about Smartshares finds compliance chief; ex Schroders man joins Research IP; ECCT trustee resigns post haste; TE doubles down

The Financial Markets Authority (FMA) has no plans to set KiwiSaver fee levels or dig in the margins as it embarks on a sector-wide value-for-money investigation, according to regulation director, Liam Mason. Instead, the FMA has expects to hold a series of “sharper conversations” with KiwiSaver schemes – particularly fee ‘outliers’ – in the … [Read More...] about FMA plans to talk down KiwiSaver fees

Just four months past an indicative deadline and a matter of weeks before transitional licensing begins, the Ministry of Business, Innovation and Employment (MBIE) has handed down draft disclosure regulations under the Financial Services Legislation Amendment Act (FSLAA). The draft regulations, which will apply to all those caught under the … [Read More...] about MBIE discloses disclosure regs

Passive fund investors will be “disappointed in the long run”, according to a just-released Kiwi Invest analysis. The paper published by the investment arm of the government-owned Kiwi Wealth business argues that passive funds have built a “false economy” on the back of self-interested index managers and benchmark suppliers. “We believe that … [Read More...] about Benchmark blues: why the index offers guaranteed disappointment

Ken Fisher, the founder and chief executive of the well-known hedge fund manager Fisher Investments, has found himself in a heap of trouble following some sexually unsavory comments he made at an industry event in San Francisco last week. He has already lost a US$600 million mandate as a result. According to the Washington Post on the weekend, … [Read More...] about Crude sex comments cost US$600m

The NZ government has set aside up to $30 million to sustain the operations of the recently-created Green Investment Finance (GIF) entity “until it is financially self-sustaining”. Established under legislation last year, the GIF was set up as a ‘green investment bank’ with initial start-up capital of $100 million. According to the … [Read More...] about NZ govt covers $100m green bank costs with $30m on-call capital