The Eastern and Central Community Trust (ECCT) has appointed Forsyth Barr to run an almost $52 million shares portfolio previously managed by Auckland boutique, Elevation Capital. According to the 2024 ECCT annual report, the $51.8 million mandate change – amounting to almost a quarter of the charitable fund’s total assets – occurred post the March… [Read More…]
Ex-Fisher bond head registers for business; FMA fills exec data gap; NZ Super looks for ops manager
Former Fisher Funds head of fixed income, David McLeish, is set to re-emerge with a new venture dubbed Wedge Management. Wedge joined the Financial Service Providers Register last month as a wholesale managed investment scheme with the business likely to centre on a fixed interest offering. McLeish established Papakura Capital in May this year (changing… [Read More…]
Smart moves higher as ETF expansion looms; Westpac joins high-growth party
The recently rebranded NZX-owned fund manager, Smart, hit almost $12.6 billion under management as at the end of September ahead of a new product suite launch. As reported in August, the business formerly known as Smartshares has slated the launch of four new exchange-traded funds (ETFs) by year-end, adding to its existing range of 40…. [Read More…]
Event management: how to make the right conference call
Despite the zoomification of professional content delivery, in-person conferences remain as must-go events for financial advisers and investment specialists. But Heathcote Investment Partners founder, Clayton Coplestone, argues real-life delegates deserve knowledge not just networking… It must be conference season again. My inbox is stuffed full of invitations and save-the-dates to the growing number of… [Read More…]
Deficient markets theory: how social media randos and grifters ruined investing
Markets are in a phony phase. Or more phony than usual, according to quant-investing great Cliff Asness, in a new research/opinion paper that fingers social media as the main anti-efficiency device. The founder of pioneering quantitative investment fund, AQR, says markets have become less efficient over the course of his almost 35-year career as measured… [Read More…]
Bursting expectations: why bubbles don’t always end in a bloodbath
The ‘magnificent 7’ are likely riding into bubble territory but investors might yet avoid a bloody showdown, according to a new analysis by Dutch quantitative manager, Robeco. Robeco says of the 51 US stock market bubbles it identified across various sectors since 1926 only about half follow the familiar trajectory into a flame-out. “Classic bubbles… [Read More…]
ANZ-Mercer talks ongoing as BlackRock switch looms; lights out for wholesale
More than a year after flagging a dual outsourcing deal, the $30 billion plus ANZ Investments completed half the job last week in a signature agreement with BlackRock. But with BlackRock now signed-on for various investment risk management and operational services, the bank-owned fund manager has still to finalise plans to bring on Mercer for… [Read More…]
FMA KiwiSaver reports shows more members on the move
KiwiSaver competition picked up the pace during the 12 months to the end of March 2024 as scheme transfer amounts surged more than 20 per cent year-on-year, according to new figures from the Financial Markets Authority (FMA). The FMA 2024 KiwiSaver annual report shows more than $3.9 billion flowed between rival providers over the financial… [Read More…]
Makao wins consulting gig for $500m Anglican education charity
The $500 million Anglican St John’s College charitable fund has named Makao Investments as its new asset consultant, replacing long-time incumbent, Trust Management. However, Trust Management retains investment duties for the charity. Grant Hope, St John’s College Trust Board chief, confirmed the charity had hired Makao for “investment advisory services” following a recent tender process…. [Read More…]
Green bond spin sparks Vanguard record A$12.9 million fine, trans-Tasman lesson
Vanguard Australia has been hit by a fine equivalent to almost half its 2022 financial year annual profit over previously agreed greenwashing breaches in an ‘ethically conscious’ global bond fund marketed on both sides of the Tasman. The A$12.9 million penalty handed to Vanguard in the Australian Federal Court last week tops the A$11.3 million… [Read More…]