The NZX-owned investment platform, Wealth Technologies, has pushed through $16 billion in funds under administration in an end-of-year flurry that saw five advisory firms clamber aboard. In a release, the stock exchange investment admin play revealed four other advice operations were primed to transition early in 2025 “from a variety of platforms” including the Christchurch-based… [Read More…]
IRD zeroes in on crypto tax dodgers
The Inland Revenue Department (IRD) has put NZ cryptocurrency traders on notice after an information-gathering sweep uncovered transactions valued at almost $8 billion. In a release, IRD significant enterprises segment lead, Tony Morris, said the tax department found 227,000 crypto-users in NZ had completed about 7 million transactions valued at $7.8 billion. Crypto profits are… [Read More…]
Vanguard gets more vertical with new advice arm
Vanguard has signalled a strategic tilt towards more directly controlled advice and distribution after flagging the launch of a new division last week headed by former Fidelity head of personal investing, Joanna Rotenberg. The passive investment giant already oversees about US$900 billion through a range of advisory options in several jurisdictions from a robo-service through… [Read More…]
Cyber-risk, high-impact systemic ‘event’ ping on 2025 fear gauge; Harbour turns spotlight on elephants and flares
Inflation, US monetary policy and bank-stress all faded as investor fear factors in 2024 while cyber-risk recorded the biggest scare-jump as measured by global financial markets infrastructure giant, DTCC. DTCC, short for the Depository Trust & Clearing Corporation, found cyber-risk leapt from fourth to second in its annual ‘Systemic Risk Barometer Survey’ published last week… [Read More…]
Emerging Asia, private assets top pension fund favourite destinations
Global pension funds are leaning to Asian emerging markets and private assets for better risk-adjusted returns, according to the latest annual survey of the sector by UK-based research house, Create. The study, sponsored by French fund group Amundi Asset Management, says following the end of the ‘great moderation’ – a 25-year period of stable growth… [Read More…]
Reversion to the myth: why investors have the equity risk premium backwards
If you have a spare 20 years, investing in shares is supposed to be a no-brainer. Time in the market; the line slopes up. But in a new paper, Research Affiliates (RAFI) founder, Rob Arnott, says history offers alternative lessons, too. “Our industry largely ignores the low but hardly negligible possibility of negative real returns… [Read More…]
Time to pick your targets in private markets: Federated Hermes
The amount of money rushing into private markets asset classes has made them more efficient, and investors will need to be more selective – and peruse different opportunity sets – if they want to meet their great expectations. Uncertainty around the US election and the course of interest rates has given way to an extended… [Read More…]
ANZ-Mercer deal collapses
Mercer and ANZ Investments have walked away from a planned fund services agreement after more than 15 months of talks. An ANZ spokesperson said in a statement: “We have decided not to proceed with an investment partnership with Mercer, having agreed with Mercer the partnership would not achieve its expected goals.” It is understood Mercer… [Read More…]
FMA hits ‘pause’ on fund climate disclosure disclosures
The Financial Markets Authority (FMA) has backed down on plans to require fund managers to reference climate statements in other disclosure documents following lukewarm industry reaction to proposed guidance. In a November update, the FMA says it has “decided to pause work” on an information sheet put out to consultation this July set to load… [Read More…]
MAS replaces Bancorp in wins for JBWere, Nikko; Kōura joins high-growth club; another Castle Pointer for ForBar
The FirstCape-owned JBWere has picked up oversight of almost all asset classes in KiwiSaver and investment funds offered by medical sector financial services specialist, MAS, in a move that also saw its long-time NZ fixed income and cash manager dumped. Under the changes revealed last week, Bancorp has been replaced by JBWere as investment manager… [Read More…]