After years of servicing Australia and New Zealand, successfully, with a fly-in/fly-out team, Northern Trust Asset Management has opened a three-person office in Melbourne under regional senior vice president for institutional business and strategy, Bert Rebelo, who will relocate from Hong Kong. Rebelo, who has been with Northern Trust for about 16 years and has… [Read More…]
Trustees Executors signs on with SS&C
Financial systems provider SS&C Technologies, which last December bought most of the business of DST International in Australia, has expanded its Australasian reach after signing up New Zealand firm Trustee Executors (TE) to its enterprise reporting and investment portal platform, Pages. A press statement announcing the deal said TE would use Pages “to automate the… [Read More…]
Aussie small-cap manager plans to get adventurous NZ advisers on board
Niche Australian small-cap manager, TBF Investment Management, could appeal to New Zealand advisers willing “to go ‘off the beaten track’”, according to Thom Bentley, head of Remarkable Capital. Bentley, who represents TBF in NZ, said the group’s Small Cap Value Growth Fund would suit advisers “who are looking for exposure to Australian small caps which… [Read More…]
The case for CPI bonds in outcome-oriented strategies
Inflation-linked securities – CPI bonds – are likely to attract renewed interest because of the demographic shift happening in the super industry as it approaches the baby-boomers’ decumulation phase of their investment spans. Super funds should take note too. Tamar Hamlyn, a principal of fixed interest specialist Ardea Investment Management, has an interesting way of… [Read More…]
Fund admin firm moves towards ASX listing
MainstreamBPO, the independent fund administrator for about 350 funds, has appointed its corporate and legal advisers for a planned ASX listing later this year. The size and timing of the capital raising are not yet known. While not exactly a fintech start-up, MainstreamBPO should attract some interest from investors who have been pouring money into… [Read More…]
Good governance 3: how to do the SIPO
In part three of his ‘Good governance’ series, Melville Jessup Weaver (MJW) principal, Mark Weaver, sheds light on a key trustee board document: the SIPO SIPO stands for Statement of Investment Policy and Objectives – and every board should have one. The SIPO documents trustees’ investment policies, setting out the investment governance and management… [Read More…]
Researchers unmoved by NZ Super’s Milford suspension
Research houses are holding fire on Milford Asset Management following the New Zealand Superannuation Fund (NZS) decision to suspend its local equities mandate early this month. In the wake of the NZS move, which saw it temporarily re-house the $281 million Milford mandate internally, Australian-based researcher Morningstar said its ratings of the manager would remain… [Read More…]
AMP not quite ready to pass Salt $690m
AMP Capital has delayed the handover of its NZ equities mandate to Salt Funds Management by up to a month. George Carter, AMP Capital NZ head of distribution, said transition of $690 million-odd portfolio, originally scheduled for March 31, has been put back as the fund manager deals with “a few internal things”. “It’s really… [Read More…]
Superlife stumps up again for new NZX products
Funds management business, Superlife, has tipped in about $60 million to kick-start three new exchange-traded funds (ETFs) launched by its parent NZX late last month. In February Superlife seeded two other new NZX ETFs – both built around Australian indices – with a total $90 million. Sam Stanley, NZX head of exchange products, said Superlife… [Read More…]
NZ instos big-hitters for iShares
New Zealand institutional investors have been “thought leaders” in the take-up of exchange-traded funds (ETF), according to Jon Howie, head of iShares Australia. Howie said historically New Zealand institutions have been “strong adopters” of iShares ETFs dating back to when the firm’s broad market-cap products first hit the market. “But now we’re seeing lots of… [Read More…]