The Ministry of Business, Innovation and Employment (MOBIE) has proposed more flexible multi-manager fund disclosure options in the latest round of Financial Markets Conduct (FMC) regulatory consultation. Under MOBIE’s ‘Supplementary Financial Markets Conduct Regulations’ proposals, as underlying changes occur multi-manager schemes could use fund updates in addition to an original product disclosure statement (PDS) or… [Read More…]
Russell bearish on Australian shares and housing
The annual Russell Investments/ASX long-term performance study of the nine major asset classes has led the advisory firm and multi-manager to question traditional investor allocations to domestic shares and residential property. With the possibility of a housing bubble in Sydney and Melbourne – as well as Auckland in New Zealand – being openly discussed, prospects… [Read More…]
Global warming to melt NZ sovereigns, Mercer climate change sequel plots global investment risks
New Zealand government bonds are the most climate-sensitive in the developed world, according to a new Mercer report. The ‘Investing in a time of climate change’ study – a sequel to Mercer’s inaugural 2011 report on the same subject – named New Zealand as the “most vulnerable of the developed market sovereign bonds”. Mercer says… [Read More…]
Northern Trust puts some spring in the step of its alternatives
Northern Trust Asset Management has hived off its alternatives division into a new company, 50 South Capital, which will give the alternatives managers more autonomy within the group while protecting the parent bank from direct investments in some trading activities. For Australian and New Zealand investors, though, the upshot may be that, with the opening… [Read More…]
Peterson study claims an end to active/passive debate
Peterson Research Institute (PRI) has produced a strident defence of active management by institutional investors based on an assessment of manager skill as allocated in super funds’ investment risk budgets. John Peterson says: “The active/passive debate is over – the real numbers tell the real story”. Peterson, a former fund manager and asset consultant, formed… [Read More…]
Australasian tech wired for growth, Bascand tells conference
Australasian technology stocks currently offer good value, according to Harbour Asset Management chief, Andrew Bascand. In a presentation to the Portfolio Construction Forum (PCF) in Auckland last month, Bascand said the recent high demand for defensive stocks could have “created a medium-term relative opportunity” for local tech investors. “… a basket of largely uncorrelated NZ… [Read More…]
Industry lobbies UK for QROPS certainty
KiwiSaver providers could get some clarity on UK pension fund transfer relief early this month, according to Bruce Kerr, Workplace Savings NZ chief. Kerr said the industry body is “working very hard” to negotiate some relief measures from the UK tax office, which recently removed all KiwiSaver providers from its list of Qualifying Recognised Overseas… [Read More…]
Mass KiwiSaver membership drive picked to cost under $100m
An auto-enrolment blitzkreig could cost the government less than $100 million over the next four years, according to a spokesperson for the Finance Minister, Bill English. As flagged on Investment News NZ (IN NZ) last week, the spokesperson confirmed mass auto-enrolment would be back on the government agenda “over the next six to 12 months”… [Read More…]
Stewart to press go with $4.5m
The Retirement Income Group should have its annuity-style product officially on the market well before year’s end, according to founder, Ralph Stewart. Stewart said after a hectic round of capital-raising – including a last-ditch attempt via ‘crowdfunding’ website Equitise – the company met its funding target. “We were 110 per cent oversubscribed. Our target was… [Read More…]
AMP Capital rebuffs Morningstar
AMP Capital has knocked back research house Morningstar in its latest round of NZ equities manager reviews. In a communique issued last Friday, Morningstar said AMP had opted out of the process for its NZ shares funds. “We have discontinued coverage of AMP Capital Strategic NZ Shares as AMP Capital has chosen to decline our… [Read More…]