Mercer Australia has copped an A$11.3 million fine in a “landmark” greenwashing court action set to shake-up product-labelling practices on both sides of the Tasman. While Mercer admitted to the charges laid last year relating to environmental, social and governance (ESG) claims in its ‘Sustainable Plus’ fund range, the Australian High Court opted to impose… [Read More…]
Lost in the (index) jungle: CFA study calls for new passive-active directions
Passive investing has wandered far off the path first cleared by Vanguard founder, John Bogle, in the 1970s. Investors are now stumbling around in an index jungle increasingly populated by products that bear only a loose resemblance to the simple capitalisation-weighted stock market funds designed by Bogle et al, according to a new CFA Institute… [Read More…]
‘The cheapest electrons’: Federation goes where the wind blows, sun shines
NZ, according to Federation Asset Management partner, Stephen Panizza, has “world class wind”. For Wellingtonians battling through a southerly gale the accolade might not be surprising, or welcome, but Panizza said the country had huge potential to breeze through the transition to full sustainable energy production. Over this side of the Tasman last week to… [Read More…]
On transition: a beta way to manage climate risk
Climate change is now a real reporting duty for most NZ licensed fund managers with new greenhouse gas metrics due next year. Daniel Aguet, Scientific Beta index director and deputy CEO, explores some strategies to measure and manage carbon exposures in portfolios and how his firm is tackling transition risk… Measuring and controlling the… [Read More…]
Money Month survey highlights adult fin-lit challenges
Most New Zealanders have learnt the value of financial literacy the hard way, according to a new survey published this month. The study carried out for Partners Life and Banqer found three-quarters of respondents have realised the importance of financial knowledge after weathering the recent bout of inflation. Just over 75 per cent of the… [Read More…]
Why there’s no easy answers for the biggest debate in markets
Earnings notwithstanding, everybody that’s been making “tons of money” out of the big tech companies has pretty much been investing for their future growth. Now they need to deliver it – and that’s a key uncertainty for what may or may not be a tech revolution, says Jonathan Rawicz, portfolio manager for Zurich-headquartered EFG Asset… [Read More…]
Boyle and Buell join Fisher, preps PE fund, cracks $200m in fees
Smartshares head of institutional, David Buell, is to join Fisher Funds next month as general manager growth – one of three senior roles the $25 billion firm created to carry the weight of its most recent acquisition, Kiwi Wealth. At the same time, former Mint Asset Management head of marketing, David Boyle, has been hired… [Read More…]
FNZ wins Whai Rawa admin as iwi mulls investment model, KiwiSaver launch
Ngāi Tahu funds management subsidiary, Whai Rawa, will move its administration from Mercer to FNZ following a review with a potential investment change and KiwiSaver launch also on the horizon. Sam Kellar, Whai Rawa general manager, said the iwi-based savings vehicle selected FNZ as its new admin provider following a request-for-proposal (RFP) process earlier this… [Read More…]
Xero hero joins Kernel board as manager looks to exit loss-making years
Kernel Wealth has named Xero co-founder, Alistair Grigg, as director as the loss-making manager targets break-even point this financial year. Dean Anderson, Kernel founder, said Grigg, who replaces Paul Hocking on the board, would bring “tech leadership to support our wider team in our next phase of growth, particularly as we leverage more of the… [Read More…]
RIAA urges green-naming regulations as report finds knowledge, generation gap
NZ may need to regulate use of green-like fund terminology despite an uptick in public awareness of the notions, according to the 2024 Responsible Investment Association of Australasia (RIAA) NZ report. The ‘Voices of Aotearoa’ RIAA study, produced in association with Mindful Money and Australian Ethical, found a “significant increase in knowledge and understanding about… [Read More…]