Equities outperformed bonds by more than double over the last 125 years but have dropped below the long-term average this century to date, according to the 2025 edition of the acclaimed Global Investment Returns Yearbook. Compiled by UK academics – Elroy Dimson, Paul Marsh, Mike Staunton – the Yearbook, now produced under the UBS flag,… [Read More…]
FANZ calls for award nominations; Morningstar winners on the night
Financial Advice NZ (FANZ) has opened up nominations for three awards due to be presented at its annual conference in Christchurch early next month. In a statement, FANZ says the program “honours those who have demonstrated innovation and leadership and driven positive change within the financial advice sector”. The three awards cover: Financial Capability Advocate;… [Read More…]
Back-office blockchain-saw: how tokenisation will cut costs, slice fund launch times
A blockchain revolution could knock more than US$135 billion off the cost of running funds in the European, US and UK markets alone, according to a new Calastone paper, while slashing product-creation times by at least 25 per cent. Based on a survey of 26 asset managers, the Calastone study estimates the fund sector could… [Read More…]
Apex wins Harbour registry, TE folds admin hand
Harbour Asset Management is to shift registry functions to Apex from Trustees Executors (TE) as the incumbent provider exits the investment administration business. Ruari McGregor, Harbour chief operating officer, said the move also aligns the back-office service with the BNZ and Hunter funds that also fall under its purview. Following its inclusion in the FirstCape… [Read More…]
Wealthpoint investment head to exit; Become makes Consilium partner; FNZ finds new CFO
Keri Jenkins, head of investments for the Wealthpoint advisory network, is set to leave the business later this year after joining the group from Fonterra in 2020. According to a Wealthpoint spokesperson, Jenkins would likely finish up in June “to focus on growing a business she owns outside of the financial services industry”. She “played… [Read More…]
Pie, InvestNow fund house brand join high-growth club; Trust tees up UK responsible strategy
Pie Funds KiwiSaver and the InvestNow investment label, Foundation Series, have put higher-risk funds on the menu in line with a recent industry-wide trend. Ana-Marie Lockyer, Pie chief, said the under-construction Aggressive Fund comes on the back of strong demand from members. “It is something our members have asked for and we believe that, for… [Read More…]
Wholesale investor legal challenge to get May day hearing
The ‘eligible investor’ test case sought by the Financial Markets Authority (FMA) has been slated for May 1 this year in a High Court hearing set to draw the attention of the wholesale funds sector. Margot Gatland, FMA head of enforcement, confirmed the court date in the latest regulatory update, noting the action would clarify… [Read More…]
ASIC to shine light on ‘dark’ private markets
The Australian financial regulator has red-flagged private markets for closer scrutiny after admitting it has limited look-through to the fast-growing asset class. In a new discussion paper published last week, the Australian Securities and Investments (ASIC) chair, Joe Longo, called out the private markets sector as a critical regulatory blind-spot. “We note our international peer… [Read More…]
The $1.6 trillion bequestion: JBWere report documents NZ intergenerational opportunity
The great NZ intergenerational wealth transfer will likely amount to about $1.6 trillion between now and 2050 against the backdrop of an aging population and slower growth, a new philanthropic sector report estimates. Some $27 billion passed on as inheritances in the country last year, the JBWere-produced inaugural ‘Bequest Report’ says, but the annual generational… [Read More…]
Mercer looks to hedge fund fix for volatile rate times
Hedge funds could operate as fixed income proxies amid a bumpy global monetary policy descent to ‘normal’ altitude, according to Mercer. In a new paper outlining five strategies for ‘financial intermediaries’ as volatility mounts, Mercer highlights hedge funds as “one of the few areas with foreseeable tailwinds, unique diversification benefits and independence from the stock–bond… [Read More…]