ASB solidified its number two ranking in the KiwiSaver market by the end of last year, pulling ahead of the Fisher Funds collective while closing the gap on market leader, ANZ. The latest quarterly Morningstar KiwiSaver report shows the single ASB scheme held more than $18.3 billion as at December 31 compared to a little… [Read More…]
… as Morningstar readies for awards season
Morningstar has lined up a new batch of candidates for its NZ fund manager of the year awards that once again excludes an international shares category. The research house has named Milford, Harbour and Mint as finalists for the overall fund manager of the year gong that was taken out last year by the NZX… [Read More…]
Alvarium looks to onboard new CIO; MUFG names new Australia/NZ retirement solutions head; trans-Tasman asset consultants staff up
Pathfinder parent, Alvarium, is hiring for a new chief investment officer (CIO) to replace interim incumbent, Wayne Ross. Ross took over CIO duties at the diversified financial services firm last February following the exit of Pathfinder co-founder, Paul Brownsey. In its recruitment blurb, Alvarium says after making “several high-profile senior appointments in recent years”, the… [Read More…]
Beyond bonds: what investors need to know about fixed income exotica
As the search for higher yields intensifies in today’s relatively low-rate environment, investment professionals are increasingly drawn to non-traditional fixed interest products to meet the income needs of their clients. Heathcote Investment Partners founder, Clayton Coplestone, explains why ‘exotic’ fixed income strategies also come with non-traditional risks… High-yield bonds, leveraged loans, collateralised loan obligations… [Read More…]
Calastone finds fixed income win over fund investors, ESG fades
Global investors have overwhelmingly favoured fixed income strategies since 2019 as measured by net transaction flows gushing through the pipes of fund network firm Calastone. According to a new analysis by the back-office technology provider, bond funds have attracted more cash during the six years to the end of 2024 than “all other asset classes… [Read More…]
Vanguard embarks on fee-cutting blitz, signals bond focus
Vanguard has trimmed fees on almost 90 funds across multiple asset classes in an historic cost-cutting extravaganza tipped to save investors US$350 million this year. In a release last week the passive investment giant revealed price reductions of between 0.01 per cent and 0.06 per cent on 87 funds, representing almost a quarter of its… [Read More…]
Hedge fund returns up, flows down
The global hedge fund sector saw net outflows across most strategies over 2024 despite racking-up its best calendar year performance in more than a decade. In a new study, UK-based niche research group, Aurum, says the overall hedge fund market spawned the best returns last year since the first post global financial crash year of… [Read More…]
Australian Future Fund finds ‘active opportunities’ in more positive conditions
The Australian Future Fund had a relatively rosy 2024 but is sticking with its prediction that the global economy will become more fragmented and difficult to navigate for even the largest and most sophisticated institutional investors. Australia’s sovereign wealth fund returned 12.2 per cent over 2024, adding $26 billion of value and bringing total funds… [Read More…]
Westpac-BT brings registry back in-house
The $18 billion plus Westpac-owned funds management group BTNZ is to in-source registry function in a rare administrative move. BTNZ chief, Nigel Jackson, said the manager opted to internalise registry following a review of the “operating model and an extensive RFP process”. “We’re keen to deliver the best possible experiences for our customers and believe… [Read More…]
Climate-reporting pressure system set to ease further for fund managers
NZ fund managers can look forward to significant climate-reporting relief under a raft of measures put forward late in 2024 including a tiered compliance system expected to be in place by the end of this year. In addition to a delay in mandatory carbon emissions audits (among other amendments) contained in an October consultation, the… [Read More…]