David Chaplin

The Kiwibank-owned wealth manager Gareth Morgan Investments (GMI) may lower the barrier for entry into its tailored portfolio management service. In an email GMI is asking clients to register interest in a proposal to reduce the investment minimum for its Private Portfolio Service (PPS), which to date has targeted wealthier investors. “Currently our Private Portfolio… [Read More…]

The New Zealand Superannuation Fund (NZS) has joined a US$1.5 trillion global coalition in calling for greater clarity in proposed international tax agreements for pension funds. In a submission on draft changes to the Organisation for Economic Development (OECD) ‘Model Tax Convention’ (MTC), 14 large global funds – including NZS and Australian mega-fund QIC –… [Read More…]

New fiduciary standards for US retirement planning advisers could save investors more than US$400 billion over the next 20 years, according to the US Department of Labor (DOL). The DOL paper announcing the new fiduciary standard on April 8 says the US retirement advice market suffered from a consistent “substantial failure”. “… IRA [investment retirement… [Read More…]

Target-date funds, which proved popular in the US in recent years and are still being promoted in Australia, with mixed success, were roundly criticised by academics and some funds management practitioners at last week’s workshop organized by the Paul Woolley Centre at the University of Technology, Sydney. Professor Ron Bird, the former fund manager who… [Read More…]

Dimensional Fund Advisors in Australia has lost its two most senior regional sales directors, Mark Yetman and his direct report Ross Kent, who, combined, covered the firm’s institutional business. DFA Australia earlier this month advertised for a new role online, as ‘regional director of financial advisor services’. Kent had joined only in April last year… [Read More…]

A strong referral line via its parent Kiwibank has spurred growth in Gareth Morgan Investments (GMI) wholesale business, according to the group’s chief investment officer, Simon O’Grady. O’Grady said GMI had been winning a steady stream of wholesale mandates ($10 million plus) – often after bank referrals – prompting the appointment last week of ex… [Read More…]

Almost $500 million could be out to tender as insurance firm Southern Cross Health Society looks to diversify away from a pure fixed income play for its investment funds. It is understood Southern Cross has issued a request for proposal (RFP) with a mandate to provide a diversified solution for the insurer’s investment pool. As… [Read More…]

Fund manager RFPs are coming thick and fast from controversial investment consultant bfinance, having set up an office in Sydney after three years of trying to crack the Australian super fund search market from London. It is understood that at least four RFPs, including a large domestic fixed income mandate, have been issued in recent… [Read More…]

Financial advisers need a strong process to delineate between wholesale and retail clients, according to Barry Read, head of compliance firm, Independent Development Solutions (IDS). Read told the Heathcote Investment Partners ‘Meet the managers’ roadshow in Wellington last week that designating clients as ‘wholesale’ could help advisers avoid many of the Financial Advisers Act (FAA)… [Read More…]

JP Morgan Alternative Asset Management (JPAAM) is on the hunt for short-term quantitative investment strategies, according to Pierre Chabran, the group’s head of hedge fund solutions. Chabran told the Nikko NZ Investment Summit audience in Wellington last week that JPAAM is favouring quant managers that adopt ‘machine learning’ tools to eke out market alpha. He… [Read More…]