The strengthening US currency pushed the collective assets of the world’s top 500 fund managers down 1.7 per cent year-on-year, according to the latest in the annual Willis Towers Watson (WTW) series. As at end December 2015 total assets under management of the top 500 fund manager club stood at US$76.7 trillion compared to US$78.1… [Read More…]
Archives for 2016
Dynamique rolls out first retail investor education program
Wellington-based institutional financial education provider, Dynamique, has launched a new program aimed at the retail market. Guy Dobson, Dynamique managing director, said the ‘Get ahead in wealth management’ series should appeal to a wide range of investors and professionals. “This program is designed for all wealth management clients who may need more information and education… [Read More…]
Fisher hunts for new head
Fisher Funds Management has begun the search for a new chief after the firm’s eponymous founder, Carmel Fisher, confirmed last week she would step down from the role. In a letter to investors, Fisher says it she will retire as managing director of the almost $7 billion funds management business “some time in 2017”. “To… [Read More…]
ASB jumps before Vanguard clean screen offer
Vanguard’s just-announced ethically-scrubbed global shares fund has arrived too late to retain one of its largest NZ institutional clients. In a statement, ASB said as at October 11 this year it would “no longer hold securities in companies that manufacture cluster munitions, landmines or nuclear weapons”. “This is the result of a change in international… [Read More…]
ASIC strikes again: Aussie banks face $180m plus bill for advice-free fees
Australia’s largest financial institutions could face a collective bill of more than $180 million after charging over 175,000 customers for non-advice over multi-year periods. In a damning report delivered by the Australian corporate cop last week, six of the country’s biggest financial services firms – covering the big four banks plus AMP and Macquarie –… [Read More…]
Harbour adds Q to ESG
Harbour Asset Management has formally included a new stock quality ranking system into its investment process. Andrew Bascand, Harbour chief, said the quality overlay – based on a nine-point scoring system developed in 2002 by Stanford University professor, Joseph Piotroski – would feed in to the manager’s investment decisions along with traditional analyst research and… [Read More…]
Five disrupting trends for asset managers
Believe it or not, the funds management industry is in better shape than it has been for years. However, disruption, due to a raft of technological developments, is happening now. Managers have to adapt quickly in order to survive, according to a paper by SEI Investment Manager Services. SEI, a major US-based fund manager, administrator… [Read More…]
Douglas back in lead role for Morningstar
After a two-year stint at Morningstar’s HQ in Chicago, NZ re-pat, Chris Douglas, is raring to apply the global experience to his new role as director of manager research ratings Asia-Pacific. Douglas, who returned to his native NZ near the end of October, said the offshore experience offered a valuable insight into the range of… [Read More…]
FMC amendment drops ROPS block
The government has removed a potential blockage to UK pension flows to New Zealand-based schemes in a Financial Markets Conduct Act amendment released last week. Included in a raft of last-minute FMC amendments, the new regulations essentially align NZ-based scheme withdrawal rules with the source UK pension fund arrangements. Under previous FMC wording, withdrawal rules… [Read More…]
Risk on again for emerging markets
Those who stayed the course with emerging markets over the last few bleak years should be feeling fairly chuffed, as more feint-hearted investors are now coming back to the asset class. Martin Currie Investment Management’s Kim Catechis says that order has been restored. The three big questions investors have, the Edinburgh=based head of emerging markets… [Read More…]