David Deverall, head of the A$1 billion ASX-listed Australian funds management firm Hunter Hall, resigned last week to take the top role at the New South Wales government debt authority. Deverall will assume his new position as chief of the NSW Treasury Corporation (TCorp) on February 8. TCorp manages about A$80 billion for a range… [Read More…]
UK star economist to tell NZ industry why finance needs to come back to earth
Celebrated UK economist and author, John Kay, will air his harsh critique of the financial services industry next month in New Zealand as guest of the local CFA Society. Kay is booked for a two-hour CFA luncheon at Auckland’s elite hangout, The Northern Club, on February 11 to expound on his argument that the global… [Read More…]
NZ likely target for Mercer bot plot
Mercer could adapt its recently-launched Australian ‘robo-advice’ service for the New Zealand market, according to a spokesperson for the group. The Mercer spokesperson said the Marsh & McLennan-owned firm has yet to formally review the potential application of its new auto-advice service in NZ but launching across the Tasman would be feasible. “We’ve established the… [Read More…]
Treasury explains KiwiSaver auto-off position (and how to turn on members)
KiwiSaver membership would only increase by about 5-7 per cent under a one-off auto-enrolment process, according to Treasury papers released under the Official Information Act. The Treasury analysis – prepared for the office of Finance Minister Bill English last August and published last week – predicts auto-enrolment would likely result in 168,000 (out of a… [Read More…]
Kerr takes Workplace wheel for one last spin
Workplace Savings NZ chief, Bruce Kerr, has put his resignation on hold for up to three months as the industry organisation continues the search for his successor. Kerr, who announced his departure last August at the Workplace Savings conference, was originally due to wrap up his 12-year stint in charge on December 19 last year…. [Read More…]
Trust Waikato begins head-hunting as chief prepares to exit
The $340 million Trust Waikato is searching for a new CEO following the resignation of incumbent Bev Gatenby. Gatenby, who will officially exit at the end of April, said the search for her successor would begin in earnest shortly. “The position as just about to be advertised widely,” she said. In a statement published last… [Read More…]
Six trends for ’16 from new-look Willis Towers Watson
The top six trends driving the outlook for the newly formed investment consulting and insurance giant Willis Towers Watson are combining to provide a generally “mediocre” outlook for markets over the medium term. In its January global markets paper the firm’s asset research team explains the three-five-year asset class weightings. In the major asset classes:… [Read More…]
Beware: FANGs taking on Nifty 50 characteristics
US-based global manager Ranger International Management has drawn a comparison between the so-called FANG stocks in the US market and the Nifty 50 of the late1960s and early 1970s. The comparison could help investors get a better perspective on current market sentiment. The FANGs – Facebook, Amazon, Netflix and Alphabet (Google) – were the darlings… [Read More…]
Exchange-traded products go off the charts in 2015
December inflows of US$52 billion tipped the global exchange-traded product (ETP) market into record territory last year with investors increasingly adopting more diversified and opportunistic strategies, the latest BlackRock on the sector shows. According to the December 2015 BlackRock ‘Global ETP Landscape’ report, annual flows hit more than US$350 billion over the calendar year –… [Read More…]
Research Affiliates co-founder buys out Asian business
Jason Hsu, a co-founder of California-based Research Affiliates, creator of the ‘fundamental index’ and promoter of smart beta, has bought a majority interest in the firm’s Asian business, which has been reformed into a new company known as Rayliant Global Advisors. Hsu will remain the vice chairman and a shareholder of Research Affiliates, which will… [Read More…]