Ignoring emerging market BRIC benchmarks has paid off for the T Rowe Price Global Equity Growth Fund, according to Kendal Law, Harbour Asset Management sales director. Law, recently hired to promote the Harbour-backed portfolio investment entity (PIE) version of the T Rowe Price product to NZ institutional investors, said while the fund’s emerging market allocation… [Read More…]
Quant and fundamental styles blend for systematic alpha
While smart beta strategies have been attracting a lot of interest from investors, there are other ways to capitalise on quantitative factors in markets with the additional protection afforded by fundamental analysis. A recent paper by MFS Investment Management demonstrates this. MFS, which is best known in Australia for its flagship fundamental global equities fund,… [Read More…]
Suite as mate: Auckland tech firm pitches to Aussie financial advisers
An Auckland-based tech company is making a play for the Australian financial planning market with a just-launched video conferencing and document-sharing app. Supported by a “significant R&D grant” from the NZ government Callaghan Innovation fund, SuiteBox integrates financial planning software with video technology to create a virtual meeting room. SuiteBox allows advisers “to share documents… [Read More…]
The case for separate global small-cap mandates
While super funds have been enthusiastic investors in separate domestic small-cap mandates alongside their broad-market Aussie equities strategies, they have not been so keen, historically, on separate global small caps to accompany global core equity mandates. Andy Flynn, of William Blair, made a good case last week for a change of heart. Andy Flynn, a… [Read More…]
NZX looks in-house for fund CEO
It is understood the NZX has reached internally to fill the newly-created position of chief executive officer funds management. After a prolonged executive search, managed by the Wellington branch of global recruitment firm, Korn Ferry, current NZX head of markets, Aaron Jenkins, has been tipped to take on the Auckland-based funds management role. Also based… [Read More…]
Sovereign tipped to offload $600m fund responsibilities to JMIS
Institutional investment advisory firm, JMIS, has bought the model portfolio and fund sales arm of ASB-owned insurance firm Sovereign, according to industry sources. If confirmed, JMIS would take control of approximately $600 million of funds under administration, sources say, which have been accumulated mainly via Sovereign’s network of insurance advisers. Last Friday a Sovereign spokesperson… [Read More…]
Tauranga power trust puts $100m plus on the line
The Tauranga Energy Consumer Trust (TECT) has put out a tender to manage over $100 million after selling down almost 20 per cent of its stake in Trustpower. Bill Holland, TECT chairman, said while the board hasn’t formed a fixed view on where to invest the money, it is likely to end up in a… [Read More…]
Russell reconfigures global bond fund
Russell Investments has added two new managers to its international fixed interest fund while reducing allocations to incumbents and layering on a novel currency “positioning strategy”. Al Jalso, Russell global bond fund portfolio manager, said the revised approach reflects the need to manage liquidity, introduce further diversity and add value in an increasingly challenging fixed… [Read More…]
Defence Force starts recruitment drive for AFAs
The New Zealand Defence Force (NZDF) is looking to ally with a third-party financial advisory business to service members of its superannuation and KiwiSaver schemes. In a request-for-proposal (RFP) circulated at the beginning of May, the NZDF says it is on the hunt for “a network of independent financial advisers (AFA)”. “This will provide access… [Read More…]
Fertiliser firm dumps KiwiSaver, reshuffles super
AMP is set to benefit as fertiliser supplier, Ravensdown, shutters its KiwiSaver scheme and realigns the group’s staff superannuation fund. It is understood the $6 million Ravensdown KiwiSaver scheme, one of the few remaining corporate-only affairs, will transfer its 300 or so members into the AMP product. At the inception of KiwiSaver in 2007, 10… [Read More…]