So many things didn’t happen this year. For instance, my 2019 New Years resolution to use more exclamation marks in Investment News NZ (IN NZ) didn’t amount to much. The punctuation mark most-favoured on Twitter appeared in just one IN NZ headline over the previous 12 months. But it worked: Faster KiwiSaver Bill! ranked number… [Read More…]
Archives for 2019
Goldsack quits BT for fresh “industry opportunity”
Veteran BTNZ head of investment solutions, Matthew Goldsack, has resigned after more than a decade with the Westpac-owned business. In a note to clients sent this week, BT portfolio manager, Anna Boyle, says Goldsack would take up “another opportunity in the industry” in January. “Matthew will remain with the business into the early part of… [Read More…]
Custody free to go unlicensed (but with a warning); why vanilla is not the new green
The Financial Markets Authority (FMA) has put the call to licence custody in NZ on hold in the wake of its long-awaited ‘thematic review’ of the sector published last week. However, the FMA would keep the licensing option open as it seeks to tidy up a few flaws in NZ custody arrangements identified in an… [Read More…]
TE, Harbour, Research IP board for platform journey
Harbour Asset Management and Trustees Executors (TE) have emerged as partners in a new venture spearheaded by Darren Howlin, founder of Australian firm Research IP. Early in December, Howlin registered a new NZ company, Formosa Wealth, with both Harbour and TE as shareholders. Both Harbour chief operating officer, Ruari McGregor, and TE chief, Ryan Bessemer,… [Read More…]
Young ‘veteran’ steps up to top platform role; BNZ looks inside for private bank head; in-and-out for AMP board
Consilium has promoted Dayle McDonald to the new position of head of wrap solutions ahead of a platform upgrade due to switch on next April. McDonald has risen rapidly through the Consilium ranks since joining the Christchurch-based financial advisory services business in 2013 as a client support representative. Until recently she was a key account… [Read More…]
Local managers cool on climate change disclosure measures
A group of NZ fund managers is pushing for substantial changes to proposed government mandatory climate change-related financial disclosures. In a submission on the Ministry of Business, Innovation and Employment (MBIE) climate disclosure proposals, the panel of local fund managers – including Mint and Nikko – argues the hastily-produced proposals would be impractical in their… [Read More…]
Aussie super fund salaries versus performance – it’s mostly good news
In its first study of remuneration for senior super fund executives, start-up research firm Open Director has attempted to analyse correlations between fund performance and total executive pay packets. The good news is the highest paid tend to be among the best-performing funds. The bad news is that there are some outliers. Open Director founder… [Read More…]
Parliament signs off on more ‘inclusive’ $300m venture fund
The government’s $300 million venture capital fund cleared for take-off last week after receiving almost-unanimous parliamentary support. However, the Venture Capital Fund (VCF) legislation copped a few last-minute changes including two clauses extending direct government influence over the proposed investment vehicle. Under the amendments, the VCF will now have to consider the objective of creating… [Read More…]
Link taps into drip-feed buyers
Investment administration firm Link Market Services could offer investors access to a range NZX-listed funds via its just-launched online broking platform, according to the group’s head of business development NZ, Stan Malcolm. The Link ShareMeUp mobile app, first reported here in March, currently offers investors a relatively cheap way to accumulate holdings in a range… [Read More…]
Geopolitics trumps cyber-concerns in global financial worry gauge
For the first time since inception in 2013, the Depository Trust & Clearing Corporation (DTCC) Systemic Risk Barometer Survey is flashing geopolitics above cyber-security as the number one danger to global financial stability. According to the annual DTCC risk survey, 23 per cent of respondents across the global financial services industry rated geopolitical risk as… [Read More…]