Investment News NZ

Francesco De Ferrari, AMP chief, officially ends his lame duck period at the end of June, leaving a gap of little over a month before Alexis George steps into the breach. James Georgeson, AMP chief financial official, would fill the short-term vacancy between the departure of De Ferrari on June 30 and the August 2 start-date for George … [Read More...] about AMP finalises CEO changeover dates, names new fund chief

ANZ chief financial officer, Stewart Taylor, has moved temporarily sideways to fill-in as acting managing director funds management for the bank’s $33 billion plus investment arm. A bank spokesperson said Taylor would assume the position at the end of this month in a new role created post the resignation of current director wealth and private … [Read More...] about CFO to temp as ANZ fund head; Annuitas hires schemes manager from Public Trust

NZ’s second licensed stock exchange due to go live next Monday (June 21) could open up a new liquidity channel for wholesale fund managers, according its chief executive, Colin Magee. Magee said the Catalist Public Market exchange, while aimed primarily at small-to-medium (SME) corporates, had the capacity to list a range of financial products, … [Read More...] about New exchange open to funds and PIEs, hires ex Kiwi Invest sales head

The Inland Revenue Department (IRD) has mopped-up the remaining spillover from a KiwiSaver technical glitch that saw payments to up to 750,000 members delayed during a system transition last year. In a note to providers last week, the IRD confirmed the final tranche of ‘ex gratia’ payments – approved by Cabinet this February – would hit member … [Read More...] about IRD completes clean-up on KiwiSaver aisle 750,000

The once-obscure government-funded accounting standards body, the External Reporting Board (XRB), has seen its budget balloon by almost 60 per cent in this financial year ahead of planned new climate-reporting duties. In the just-released statement of expectation for the 12 months starting July 1 this year, the government-mandated XRB has slated … [Read More...] about Climate boosts XRB budget, fund managers flag bill issues

The much-anticipated Financial Markets (Conduct of Institutions) Amendment Bill – aka COFI – continued its journey into law last week in a second reading interrupted by the valedictory speech of departing National MP, Nick Smith. But in the space of a little over 11 minutes Labour MP Poto Williams and National’s Nicola Willis set the stage for … [Read More...] about COFI debate on back-burner but opposition bubbles up

Hunter Investments chief, Tony Hildyard, has warned investors could dent long-term return prospects by dumping bonds to counter fears of rising interest rates. Hildyard said current expectations of higher interest rates has sparked misguided calls from many quarters to sell-down bond holdings in an effort to ward off capital losses. However, … [Read More...] about Don’t burn your bonds to protest rising rates, Hunter head warns

Carbon reduction strategies are becoming increasingly sophisticated but investors should remain wary of practical limitations and claims of outperformance of ‘green’ portfolios, according to new Russell Investments NZ research. In a sequel to a study published earlier this year, the new Russell paper outlines four common carbon-shrinking options … [Read More...] about Quitting carbon: why investors need real strategies, realistic expectations