Australia-based private equity player, Pacific Equity Partners (PEP), is set to hit the NZ market running with a version of its wholesale ‘Gateway’ strategy dressed for local tax conditions. Alex Ovchar, PEP managing director partner and client group, said the new Gateway portfolio investment entity (PIE) vehicle – hosted by Apex Group subsidiary, FundRock NZ –… [Read More…]
Councils taxi $1.8bn to fund runway
The NZ institutional investment and advisory markets are lining up for a rare injection of new capital as two city councils prepare wealth funds for take-off over the next couple of years. As reported last week, the Auckland City Council is seeking board members for an approved, but not yet airworthy, ‘Future Fund’ scheduled to… [Read More…]
Body on the line: why the NZ advice sector must fight for independence
Heathcote Investment Partners founder, Clayton Coplestone, argues the NZ advice sector must overcome historical differences to establish a unified and independent professional body… In 2021, the Financial Markets Authority (FMA) provided a definitive count of the NZ adviser population for the first time under the new licensing regime. According to the FMA figures at… [Read More…]
NZ Super stays nimble, keeps things simple for ‘ever-changing investment landscape’
The $74 billion NZ Superannuation Fund (NZS) has shot the lights out with a chunky one-year return and is now looking to “scale and optimise” the organisation as it eyes a projected doubling in size over the next decade. NZ’s sovereign wealth fund returned 16.85 per cent over the 12 months to 31 May, according… [Read More…]
Tail drags but dogged hedge fund returns erase outflows
Hedge funds clocked by niche researcher and multi-manager, Aurum, closed in on US$3 trillion during the first half of 2024 despite significant net outflows from the alternative investment universe. According to the Aurum study, hedge fund assets under management rose US$103 billion over the six-month period to nudge the US$3 trillion mark as almost US$150… [Read More…]
ASIC deflates pump-and-dumpers with criminal charges
A quartet of amateur Australian stock-jockeys face jail under charges laid last week in what looms as a landmark case for social media-based financial crime. Syed Yusuf, Larissa Quinlan, Emma Summer, and Kurt Stuart risk a maximum prison term of 15 years and fines up to A$1 million if found guilty of “conspiracy to commit… [Read More…]
Local govt schemes turn to Mercer, Harbour for $450m ANZ mandate swap
Mercer and Harbour will share an almost $450 million mandate from the local government superannuation and KiwiSaver schemes as part of the ANZ exodus from the wholesale market. ANZ managed more than $366 million for the Supereasy KiwiSaver and a further $81 million for the related Local Government Superannuation Scheme as of March 31 this… [Read More…]
KiwiSaver risk-weights book even returns in June quarter … but risk waits
Median KiwiSaver fund returns ended virtually identical across all risk profiles during the June quarter, according to the just-released Melville Jessup Weaver (MJW) investment survey. The MJW study shows average KiwiSaver fund performance held in an unusually tight band of 0.6 to 0.8 per cent for the three-month period. Growth and moderate funds reported the… [Read More…]
Jarden snares ex Milford global shares manager; governance search on for Auckland Council $1.3bn ‘future fund’
Long-time Milford global equities portfolio manager, Felix Fok, has joined Jarden Wealth to run international shares for the FirstCape subsidiary. Fok replaces Jeremy Ward, who left Jarden in February to take up a portfolio management position at Alvarium – the Auckland-based investment group that includes Pathfinder in its stable. In his new role, he will… [Read More…]
Fair enough: regulatory scenario-testing puts outcomes in statistical relief
Industry players, regulators and consumers could gain clearer insight on ‘fairness’ in finance from the results of a new study, according to Financial Markets Authority (FMA) chief economist, Stuart Johnson. Johnson said the findings from a novel FMA survey of almost 3,000 New Zealanders should prove useful to financial service providers as they ready for… [Read More…]