CheckRisk, the UK-based global investment risk consultancy, has strongly criticised negative interest rate policy (NIRP) for being, well, too negative. It should not happen, the firm says. In a client research note published over the weekend, CheckRisk, founded by chairman and managing partner Nick Bullman, says that the latest move by the ECB, cutting its… [Read More…]
Southland community trust hires new investment adviser
The $200 million plus Community Trust of Southland (CTOS) has dumped its long-time investment consultant. Industry sources told Investment News NZ (IN NZ) that CTOS hired Aon Hewitt as its new investment adviser, replacing MCA, the Michael Chamberlain-headed consultancy firm that had filled the role for more than a decade. The move represents a rare… [Read More…]
Tailored Swiss hedge fund slated for First NZ investment rack
First NZ Capital is about to roll out a “bespoke” hedge fund-of-funds to its clientbase. According to the First NZ March ‘Investment Update’, the hedge fund-of-funds, to be launched this May, is modeled on a product offered by Zurich-based Credit Suisse Asset Management Alternative Fund Solutions (AFS). First NZ has a long-standing business arrangement with… [Read More…]
NZ dodges ANZ Australia wealth cuts, legal wrangles
The shake-up at ANZ’s Australian wealth business that led to the exit of division chief, Joyce Phillips, last week would have little operational effect across the Tasman, according to John Body, the bank’s NZ head of wealth, retail and business banking. However, Body, recently-promoted from head of wealth to his new broader role, said the… [Read More…]
FAA options papers pile up as deadline passes
The government has received almost 150 submissions on the latest proposals to revamp the 2008 Financial Advisers Act (FAA) as the review process moves into its final phases. James Hartley, Ministry of Business, Innovation and Employment (MOBIE) head of financial markets policy, told Investment News NZ (IN NZ) 146 submissions on the FAA Options Paper… [Read More…]
Prize-winning analyst joins Pathfinder team
Auckland-based boutique manager, Pathfinder Asset Management, has hired its first full-time research analyst to join founders John Berry and Paul Brownsey. Berry said new analyst, Karl Geal-Otter, would boost the research capability of the fast-growing fund manager, which has seen it add at least $20 million to assets under management since breaking through the $100… [Read More…]
Cloud floats tech upgrade Milford’s way
Technology’s drift to the cloud has brought big-end-of-town portfolio management systems within reach of boutiques, according to Anthony Quirk, Milford Asset Management managing director. Quirk said Milford’s deal with US portfolio management software provider, Charles River, which was fully-implemented last week, would not have been possible without the cloud-based option. “Charles River used to be… [Read More…]
First KiwiSaver products earn SRI tick
Grosvenor’s socially responsible investment (SRI) KiwiSaver funds are the first in the sector to pass muster under recently-revamped certification standards set by the Responsible Investment Association Australasia (RIAA). In a statement, David Beattie, Grosvenor chief, said RIAA certification of its two SRI KiwiSaver products last week reflected the Wellington-based investment firm’s commitment to the responsible… [Read More…]
Complexity in custody may lead to better differentiation
Despite the increasing complexity of securities servicing – more cross border transactions, more derivatives, more private markets, more demand for information and transparency – there may be a silver lining for the big custodians. Maybe, for the first time in memory, they are able to differentiate themselves on capabilities rather than price. David Braga, head… [Read More…]
Smartβeta a panacea for enhanced passive or a disaster waiting to happen?
Is Smartβeta so smart after all? Guy Dobson, director of NZ- and UK-based investment consulting and education firm, Dynamique, says investors should check the smarter data before making dumb moves Great news for Smartβeta followers, according to ETFdb.com, two of the most successful Smartβeta ETFs as regards attracting new monies in 2015 were WisdomTree Europe… [Read More…]