Negative screening, the once go-to environmental, social and governance (ESG) accessory, is falling out of fashion. Valeria Dinershteyn, Northern Trust Asset Management (NTAM) director sustainable investing client engagement for the EMEA region, said the modern ESG trend favours stewardship over broad-sweeping exclusions. “Our clients are moving away from large exclusions to smaller exclusionary screens and… [Read More…]
Alternatives to nudge US$30tn by 2029, Prequin
The global alternative asset pool will rise almost 75 per cent before the end of this decade despite a slight drop-off in growth-rates, according to new data from specialist research house, Prequin. Prequin predicts the alternative asset sector will swell to US$29.2 trillion by 2029 from the end-2023 level of just US$16.8 trillion. “While not… [Read More…]
Climate-conscious investing more complex than meets the eye
Kris Nelson, Russell Investments Senior Director, Head of ESG, Investment Management, discusses why fund managers may need to evolve their ESG strategies to address both the risks and opportunities of a low-carbon transition Investment solutions designed to tackle the net zero transition are rapidly evolving as early strategies reveal their limitations. Initially, many fund… [Read More…]
A tale of two villages: steady SUM and a RYM reckoning
Sam Arcand, Mint Asset Management investment analyst, runs the numbers on the NZ retirement village sector… The post-COVID era has been incredibly difficult for many. In the context of NZ equities, perhaps none more so than the retirement village (RV) sector which has been stung by both higher interest rates and a weaker housing… [Read More…]
AMP taps BlackRock as $750m ANZ third-party wraps up
BlackRock has picked up another large chunk of NZ retirement savings money after winning about $750 million as AMP replaced a third-party manager service previously supplied by ANZ. In a move confirmed last week, AMP will shift several ANZ-managed portfolios in its KiwiSaver and employer super master trust products to BlackRock strategies in October. ANZ… [Read More…]
Ryland resigns Milford, mark two; PMG finance chief departs; third Castle Point founder off-boards
Milford Asset Management chief, Mark Ryland, is to step down… for real this time. Ryland was due to retire as Milford chief last March after tendering his resignation in February 2023 but later agreed to stay on for an unspecified term. But in a note to clients earlier this month, Milford confirmed he would end… [Read More…]
ACC lands ex ANZ investment manager for new Oz-only listed property portfolio
Former ANZ head of Australasian listed property, Craig Tyson, has been hired to run a newly established real estate investment trust (REIT) portfolio for the roughly $50 billion Accident Compensation Corporation (ACC) fund. Tyson, who left ANZ in June after an almost two-decade career at the bank-owned fund manager, will look after a pure Australian… [Read More…]
Stobo, Swasbrook double on FMA, Auckland Future Fund boards
The Auckland Future Fund (AFF) has secured three NZ investment industry stalwarts for its start-up board as the city’s local government prepares to launch the $1.3 billion vehicle. Elevation Capital founder, Christopher Swasbrook, will chair the AFF board due to be established this month with Craig Stobo and David Callanan also named as directors. Last… [Read More…]
BIG calls for cool approach to fund climate-report disclosures
The Boutique Investment Group (BIG) has called for restraint on proposed extra climate-reporting duties tabled by the regulator earlier this year. Under the guidelines published by the Financial Markets Authority (FMA) in July, fund managers (and some other entities) subject to climate-disclosure obligations would be required to reference those reports in other compliance documents. In… [Read More…]
NZ funds sector creeps up to $300bn
The NZ managed funds market edged closer to the $300 billion level in the June quarter, topping off 18 months of solid year-on-year growth. New data from the Reserve Bank of NZ (RBNZ) shows the local funds sector – excluding government vehicles – grew 5 per cent over the three months to June 30 to… [Read More…]