It’s unusual for markets to experience decades of stability, Jonathan Ruffer writes in his latest investment review, and there’s no reason to believe that stability can (or should) last. That’s because a number of emergent novelties threaten to upset the equilibrium, including the rise of passive investing (“a great idea” that has “become a force… [Read More…]
There is no alternative: why AI is a must-have tool for investment analysts…
Advances in artificial intelligence (AI) has opened up a rich vein of new analytical techniques but investment professionals will have to upskill to mine the digital gold, according to a new CFA Institute paper. Carrying the catchy title ‘Unstructured Data and AI: Fine-Tuning LLMs to Enhance the Investment Process’, the report – authored by Brian… [Read More…]
… and how regulators plan to round-up the runaway tech
Artificial intelligence (AI) might be galloping away at break-neck speed but authorities can still rein in the techno-beast, chair of the Australian financial regulator told an industry gathering last week. Speaking at the University of Technology Sydney (UTS) hosted event, Joe Longo, Australian Securities and Investments Commission (ASIC) chair, said that while “generative AI technology… [Read More…]
Post-NAS, BNP expects ‘much more intense competition’
The chief of BNP Paribas’ local securities services division expects that a decade of heated competition will follow that seen with the exit of NAB Asset Servicing, with custody banks leveraging their offshore footprints and private markets capabilities in the fight for new business. NAB Asset Servicing’s (NAS) decision to head for the exit in… [Read More…]
NZ Super trends up with almost $1.5bn of new mandates
The NZ Superannuation Fund (NZS) has made half-a-dozen fresh investments over the previous few months across an eclectic range of strategies including decarbonising private equity, US timber, data centre venture capital, quant trend-follower and a life science specialist. According a NZS communiqué last week, the now $74 billion sovereign fund biggest new mandate went to… [Read More…]
Stobo to chair as FMA enters new era
NZ investment industry veteran, Craig Stobo, has begun a five-year term chairing the Financial Markets Authority (FMA) under changed riding orders from the new government. Stobo was named last week to replace Mark Todd, who completed a nine-year run on the FMA board – the last five as chair – at the end of April…. [Read More…]
Long-time ANZ funds BDM to exit for advice; Vanguard names first outsider as chief
Veteran ANZ funds business development manager, Mary Potter, is to leave the $30 billion firm to take up a new career as a financial adviser. Potter has worked with ANZ or predecessor brands – Armstrong Jones, ING and OnePath – since 1999, building a high profile among financial advisory groups. In a note to clients,… [Read More…]
BlackRock kicks-off NZ staffing with climate hire
BlackRock has pencilled-in several new hires in NZ after announcing its first local appointee last week. “We intend to grow our local team in New Zealand to reflect our commitment to serving a broad set of clients,” a BlackRock spokesperson said. The US$10 trillion plus firm has an outsize presence in NZ as underlying manager… [Read More…]
NZX, ASX need for speed as T+1 takes off in US
Australasian stock exchanges are gearing up for a change of pace as the world’s largest equity market readies to halve settlement time next week. Both the NZX and ASX are considering a shift to ‘T+1’ trading to align with the new speed limit for North American bourses set to come into play on May 27… [Read More…]
Out of office reply: how REITs have moved on
Listed property has sunk into doer-upper status over the last few years. The run-down asset class has weathered reputational damage in the wake of COVID, which left a strew of wreckage in the global office market including the ruins of high-profile collapsed shared-space star, WeWork. And the tough times for the listed Real Estate Investment… [Read More…]