The Financial Markets Authority (FMA) has given the hurry-up to non-standard investment schemes to prepare for the imminent licensing regime. In a release last week, the FMA reminded property funds – including syndications – of their impending Financial Markets Conduct Act (FMC) obligations while also issuing a guide for forestry schemes. Most mainstream fund managers… [Read More…]
INFINZ works the room
An almost capacity crowd filled out The Great Room in Auckland’s Langham Hotel last Thursday night as over 800 finance industry professionals and assorted hangers-on convened at the 14th annual INFINZ Awards. The prizes spanned 15 categories including best equity and bond manager with Salt Funds Management and Fisher Funds respective winners. Headed by Paul… [Read More…]
UK fund fee furore a must-watch for NZ managers
New Zealand fund managers would do well to watch the fee disclosure debate currently erupting in the UK, according to Guy Dobson, head of Dynamique, a technical financial research, CPD and performance risk firm. Dobson said the recent move by high-profile UK manager, Neil Woodford, to publish ‘all up’ fund costs “in an easy-to-find and… [Read More…]
IIS adds institutional clout to board
Wellington-based funds management firm, Implemented Investment Solutions (IIS), has appointed a new independent director. Earlier this month IIS, which provides the portfolio investment entity (PIE) wrapping and distribution for a range of five Russell Investments funds, named Ian Russon as its new independent board member. Russon works in the Institutional Banking division of BNZ where he… [Read More…]
Nick Basile to step down at Suncorp
Suncorp CIO, Nick Basile, will retire from his position at the end of June and is looking to pursue a small number of non-executive director roles in the industry. A search is underway for his replacement. Basile’s career in funds management spans nearly four decades and traces the modern history of the superannuation industry. He… [Read More…]
Workplace Savings gets a head, SuiteBox opens up for new directors, Harbour increases marketing depth
In a busy month for appointments, the under-review superannuation and KiwiSaver industry body, Workplace Savings NZ (WSNZ) has plumped for a new chair as part of its triennial Council refreshment. Under the Council reshuffle, WSNZ, currently in merger talks with fellow lobby group the Financial Services Council (FSC), named David Biegel as chair. Biegel, head… [Read More…]
The old and new of indices: how they change behaviour
In the evolution of investment management, the lines between active and passive are becoming blurred. Indices no longer reflect “the market”, or not many of them do. Investors should be aware of the implications. Kathryn McDonald, director of investment strategy at AXA Rosenberg Investment management, gave an interesting series of presentations in Australia recently on… [Read More…]
Conditions underscore the importance of cashflow
The best thing you can say about global, and in particular US, equity markets is that they will probably outperform bonds this year. But that is not saying much. Epoch Investment Partners’ Bill Priest has co-authored an interesting research note on the topic. Priest, Epoch’s chief executive and joint CIO who is best known for… [Read More…]
Why wholesale investors should include direct property in their portfolios
Direct real estate has never featured highly in the typical NZ wholesale investment strategy but Michael Holloway, Vinta head of funds management NZ, pleas the case for the alternative Classic Modern Portfolio Theory (it’s over 60 years old now!) advocates that investors should diversify their investment portfolio to reduce total risk at a given… [Read More…]
MIS lists hints at industry return for ex Tower Investments chief
After a three-year hiatus from the industry, former Tower Investments chief, Sam Stubbs, has emerged as the backer of a newly-licensed entity listed on the Financial Markets Authority (FMA) website last week. The FMA managed investment scheme (MIS) manager register lists Stubbs as the trading name associated with the just-licensed firm, Simplicity NZ. According to… [Read More…]