Investment News

The Financial Markets Authority (FMA) has commissioned Auckland-based research firm MyFiduciary to explore the active-passive terrain in the KiwiSaver market as part of its ‘value for money’ campaign announced last year. MyFiduciary began collecting data from KiwiSaver schemes and underlying managers late last year covering a wide range of … [Read More...] about FMA hires MyFiduciary for active-passive investigation

Australian fund managers may have to rethink NZ distribution strategies under a looming draconian financial product rule shake-up across the Tasman. The Australian government passed legislation last year imposing tough ‘design and distribution’ obligations on almost all financial product issuers aimed at stamping out abuses identified in the … [Read More...] about ASIC takes aim: how new product rules could redesign trans-Tasman fund distribution

The new wholesale fund management firm launched by Accident Compensation Corporation (ACC) investment chief, Nicholas Bagnall, has named two independent directors. Both Richard Bodman and Stephen Montgomery joined the Te Ahumairangi Investment Management (TAIM) board last month as Bagnall prepares the business to assume an almost $1.6 billion … [Read More...] about Bagnall fund chooses director duo

The $170 million NZAS superannuation scheme has put an outsourcing review on hold pending a final call on the fate of the Rio Tinto-run Tiwai Point aluminum smelter. Originally known as the Rio Tinto New Zealand Retirement Fund, the NZAS scheme was set up as a workplace savings scheme for Tiwai Point employees. According to the most-recent … [Read More...] about Tiwai talks halt super scheme review

KiwiSaver officially breached the 3 million-member mark in November, Inland Revenue Department (IRD) figures confirm. The IRD statistics show KiwiSaver membership grew by a net 7,040 in November, tipping the quasi-compulsory savings regime just above the 3 million level. Following the latest burst of growth, KiwiSaver has captured about 60 … [Read More...] about Membership tops 3m as KiwiSaver repopulates

Active long-only strategies will continue to drive revenues for a majority of fund managers around the world for the next five years, despite the continued encroachment by index managers and fee compression in several markets, such as Australia. But the total fee issue is not a truly global phenomenon, according to Casey Quirk. Globally, asset … [Read More...] about Private markets the big winner: Casey Quirk

Global index provider MSCI has added further weight to the environmental, social and governance (ESG) bandwagon with a new range of fixed income factor-based benchmarks catering to the trend. In a release last week, MSCI revealed the launch of 15 new fixed income indices that combined both factor tilts and ESG integration. Peter Zangari, MSCI … [Read More...] about MSCI mixes fixed and factors in ESG benchmark blend