Archives for 2019

Russell Investments has dumped big bond brand PIMCO from its global fixed income fund in exchange for another US-headquartered firm, Voya Investment Management. In a client note, Russell says while “we maintain a positive view on PIMCO, we believe that Voya’s investment strategy has the potential to provide the Funds with greater excess returns”. PIMCO… [Read More…]

Robots won the day as the NZX-owned Smartshares booted up a new range of eight exchange-traded funds (ETFs) last week. Of the eight new Smartshares funds – backed by BlackRock-owned ETF factory, iShares – the robotics-themed product attracted both the largest number of trades (17) and most dollars ($469,000) post the Thursday launch. The other… [Read More…]

MMC has cracked through $50 billion in funds under administration (FUA) after bedding down its latest client last week. Tom Reiher, MMC chief, said the transition of the almost $1 billion Pie Funds unit trust business went “incredibly well” with the shift from incumbent, Trustees Executors (TE), finalised early in June. The Pie unit trust deal was… [Read More…]

NZ banks and insurers failed to pick up on clear warning signs offshore of looming ‘conduct’ risks, according to Financial Markets Authority (FMA) chief, Rob Everett. Everett told the local branch of Transparency International last week that NZ banks and life insurers had done little to ensure the local industry “had learned from the lessons… [Read More…]

Broking house FNZC formally adopts the rugby-hued Jarden brand today following a short period under its current banner. The national group, which boasts almost 60 advisers under its wing, announced the switch to Jarden in March this year just over two years since capitalising the old First NZ Capital name as FNZC. As well as… [Read More…]

Fund managers globally could face new liquidity and leverage stress tests, according to Bank of England governor, Mark Carney, as regulators delve deeper into non-bank systemic risk management. Carney issued the warning in a speech to the Institute of International Finance (IIF) in Tokyo last week just as a liquidity crisis engulfed a high-profile UK… [Read More…]

The CIMA Society of Australia, traditionally supported by what was known as IMCA (the Investment Management Consultants Association) has announced further changes to its structure, adopting a more corporate model for its administration and events program. CIMA – incorporating IMCA Australia – will do away with its conference committee, has ended its outsourced secretariat arrangement… [Read More…]

The financial data rush intensified over the last few weeks with three landmark takeover deals underscoring a spike in demand for the precious analytical raw material. Last week the London Stock Exchange (LSE) was the latest to hit paydirt with the purchase of fixed income environmental, social and governance (ESG) data firm, Beyond Ratings. Beyond… [Read More…]