Archives for 2019

Both NZ and Australia are offering renewed opportunities for investment platform business FNZ, according to founder, Adrian Durham, as the company reported a record profit in its country of origin. Durham said FNZ looking to expand on the growth of KiwiSaver in NZ and a move away from bank-owned platforms in Australia post the Royal… [Read More…]

The new $300 million local venture capital mandate awarded to the NZ Superannuation Fund (NZS) represents a “vote of confidence” in its “commercial expertise and track record”, according to Catherine Savage, chair of the board overseeing the almost $43 billion entity. Under the arrangement revealed in last week’s budget, the NZS would administer the proposed… [Read More…]

The annual Morningstar conference, held last week in Sydney, is interesting in many ways. Importantly, it marries the three segments of non-institutional fiduciary investments: fund managers, financial planners and individual investors. Perhaps surprisingly, it works. The one-day conference, held at the International Convention Centre, attracted more than 500 attendees, as it traditionally does, but at… [Read More…]

AMP was hit by another class action in Australia last week as the post Royal Commission (RC) litigation war heats up. Maurice Blackburn Lawyers filed the claim last week in the Melbourne Federal Court on behalf of AMP superannuation fund members that it says could have been overcharged fees dating back to 2013. Brooke Dellavedova,… [Read More…]

Hong Kong-headquartered robo-advice systems provider, Quantifeed, is sounding out the NZ market after opening an Australian office this February. Graeme Brant, Quantifeed head of strategic partnerships in Australasia, said the firm was initially pitching its business-to-business (B2B) robo-advice solution to KiwiSaver providers. “Most KiwiSaver members need advice as their savings grow – it’s not just… [Read More…]

Asia-Pacific (APAC) was the only region to see institutional investor confidence fall in May as animal spirits perked up in the rest of the world, new data from State Street shows. According to the State Street Investor Confidence Index, APAC investors were slightly skittish in May as the bull-bear indicator dropped about 4 points to… [Read More…]

We don’t have any specialist event-driven hedge fund managers in Australia or New Zealand but, if we did, they would likely be riding high on an influx of new funding. With various forms of disruption, uncertain markets, and continuing CEO and corporate hubris, this is an M&A climate. According to the latest numbers from eVestment,… [Read More…]

Last week was a red-letter moment for two of the most ancient cogs in the NZ funds industry machinery as Aegis, the ASB-owned investment platform, flashed a for-sale signal (again) and Australian research house, Zenith Partners, finally took FundSource from a grateful NZX. While neither pieces of news came as surprise, the FundSource sale was… [Read More…]

Christchurch-headquartered UK pension transfer specialist, i-Select, has appointed Mercer as underlying manager for a new fund aimed at mainly offshore investors. Chris Heffernan, head of i-Select, said the new product had up to $20 million queued up for transfer once it is approved as a qualifying recognised overseas pension scheme (QROPS) by the UK tax… [Read More…]