The New Zealand Superannuation Fund (NZS) climbed more than 50 places in the latest Towers Watson survey of the world’s largest pension funds. According to the Towers Watson survey (produced in association with US-based publication Pensions & Investments), as at the end of 2014 the NZS sat at 224 on the list of the top… [Read More…]
NZ government funds seek custody for $6bn
Another major NZ Crown Financial Institution custody gig is up for grabs following the appointment earlier this year of JP Morgan to the $30 billion plus Accident Compensation Commission (ACC) fund. While JP Morgan was previously shared custody with Northern Trust at ACC, this time around it is sole incumbent at the open-for-tender dual custodial… [Read More…]
Net profits after KiwiSaver: Treasury report digs in the margins
Westpac is the most profitable KiwiSaver scheme of the top six providers as measured by net margins, according to a new Treasury report. Treasury’s ‘Review of the KiwiSaver fund manager market dynamics and allocation of assets’, published last week, shows Westpac achieved net profit margin of 36 per cent in the last financial year, generating… [Read More…]
Mercer first to Disclose
Mercer has made digital history becoming the first managed investment scheme to publish on the new Ministry of Business, Innovation and Employment (MBIE) ‘Disclose’ website. Disclose was designed as the document portal for all financial products and licensed under the Financial Markets Conduct Act (FMC). The site has two registers – schemes and offers –… [Read More…]
BNP looks to feed data-hungry investors
Fund managers and asset owners were developing an “insatiable appetite” for data as risk management comes to the fore, according to Madhu Gayer, BNP Paribas, head of investment reporting and performance. The Singapore-based Gayer, in New Zealand recently consulting with clients, said factors such as regulatory compliance, portfolio stress-testing, post-GFC risk awarness, and ethical investing… [Read More…]
First NZ compliance chief, Harbour director, ships out
Richard Bodman, First NZ Capital (FNZC) compliance chief, has resigned after a 17-yea r career with the company. Bodman was also a director of Harbour Asset Management and co-ordinated compliance at the funds management firm, which is majority-owned by FNZC. He will also step down from the Harbour board role. Jody Kaye, Harbour chief operating… [Read More…]
Staples Rodway global fund business repackaged for wider distribution
A funds management business associated with accountancy firm, Staples Rodway, is looking to branch out into the wider market with a global ‘best of breed’ and product ‘repackaging’ offer. Recently repackaged itself as GSR (formerly known as Gottex Staples Rodway), the funds business plans to launch two or three new ‘best of breed’ international products… [Read More…]
Aussie property yield play targets NZ investors
Aurora Funds Management is conducting a capital raising for its listed Australian real estate investment trust (A-REIT) and has targeted New Zealand investors looking for good yield with downside protection. Aurora, a Sydney-based hedge fund manager which pioneered the ETP (exchange traded product) market in 2005, has been working with the New Zealand brokers, including… [Read More…]
Nikko gets AMP’s Carter as NZ boss skedaddles
Nikko Asset Management NZ has poached AMP Capital head of distribution, George Carter, to head the business following the imminent departure of current chief Peter Lynn. It is understood Lynn has been promoted internally to a role with the Nikko Singapore business. In a note to clients this morning, AMP Capital chief, Grant Hassell, confirmed… [Read More…]
FTSE pitches alternative index to NZ managers
The recently-reformulated S&P/NZX index business could face renewed competition in New Zealand with FTSE Russell understood to be making a play for disgruntled local fund managers. Recently-hired FTSE head of Australasia Justin Walsh, was in New Zealand last week on client visits with potential fund manager demand for a rival local index on the agenda,… [Read More…]