Investment News NZ

If adopted as-is the in-transit financial institution conduct legislation could force AMP NZ out of the intermediary game, the wealth manager says in a submission. According to the AMP Wealth Management submission, the draft Financial Markets (Conduct of Institutions) Amendment Bill would create onerous compliance duties on ‘intermediaries’ as … [Read More...] about AMP finds COFI hard to swallow, industry calls for sweeteners

Wellington-based direct-to-consumer fund platform, InvestNow, has tipped over the $500 million point following a splurge of growth in 2020. In a release, InvestNow general manager, Mike Heath, said the platform recorded rapid acceleration in funds under management (FUM) and members over the first few months of this year, setting the scene for a … [Read More...] about InvestNow raises the bar past half-billion dollar mark

Mint Asset Management has won a $20 million Australasian equities mandate from Fidelity Life after a tender process. The win sees incumbent, Nikko Asset Management, vacate the spot on the Fidelity Life insurance fund panel. Fidelity has about $260 million in its statutory fund backing underlying life insurance liabilities. Aside from Nikko, … [Read More...] about Fidelity Life swaps managers on $20m local shares mandate

The NZ financial system plumbing remains in good shape in spite of a minor blockage in the share trading back end during March, according to the Reserve Bank of NZ (RBNZ). In its latest ‘Financial stability report’ published last week, the RBNZ says most components of the background NZ market system functioned smoothly during the height of the … [Read More...] about Clear: RBNZ okays financial pipe-work as crisis-proof

Most, if not all, the big asset servicing firms are diversifying their offerings to fund managers and pension funds, moving from their traditional space in the backoffice through the middle office and to the front office. Northern Trust last week announced a potentially major deal with BlackRock to provide new services to its Aladdin information … [Read More...] about Northern’s big deal with BlackRock’s Aladdin platform

Listed fund management businesses have emerged relatively unscathed from the first round of COVID-19 market disruption, according to research from consultancy firm Casey Quirk. The Casey Quirk study found median revenue among a group of 19 publicly listed asset managers fell just 6.7 per cent over the March 2020 quarter, offset by an almost 4 … [Read More...] about Global fund managers stay healthy amid COVID but results mask long-term issues, Casey Quirk finds

The US equities low-volatility index saw a record shake-up in constituents during the coronavirus market crisis, a new S&P Dow Jones analysis shows. At the latest low-volatility index three-month rebalancing date on May 15, the study says 64 stocks “rotated out” of the S&P 500 Low Volatility Index. “For context, the median annual … [Read More...] about Low vol index transformed in turmoil

The looming recession or possibly the current one – we will find out when the numbers come out -is expected to be both deeper and broader than the global financial crisis. Australia won't have a China story to save it this time. In fact, China may have a disproportionately negative impact on the Australian economy. Simon Doyle, the head of fixed … [Read More...] about Schroders positive about Aussie equities outlook