David Chaplin

Magellan Asset Management seeded its new-style Exchange Traded Product (ETP), a listed-but-open-ended active global equities fund, with $50 million and enjoyed a net inflow of $13 million from investors on day one. Judging by the response, the fund is set to be emulated by many others. Magellan started work on the product about 18 months… [Read More…]

Mercer has added three more portfolios to its main KiwiSaver scheme aligning the investment choices closely with the manager’s employer-based Super Trust KiwiSaver. It is understood the changes, which increase the number of Mercer default scheme investment portfolios from four to seven, are a precursor to winding down the Super Trust KiwiSaver, which is now… [Read More…]

Fund managers are well-placed to survive the technology-driven disruption sweeping through the financial services industry, according to a new global report. Published by the UK-based research firm Create, headed by Amin Rajan, last week, ‘Why the internet titans will not conquer asset management’ concludes fund managers should be able to retain their market positions despite… [Read More…]

By Greg Bright* The ‘value chain’ in funds management, currently worth about 100bps, will deflate by 70-90bps in the next five-10 years, according to Ashley Porter, the founder of the zero-fee self-managed superannuation fund admin company McLowd. He provided a shock-and-awe presentation to the industry on the Gold Coast last week. At the ‘My Platform… [Read More…]

The global equity risk premium (ERP) over US Treasury bills held at a steady 4.3 per cent during the last 115 years, according to the latest Credit Suisse ‘Global investment returns yearbook’. In the latest iteration of its well-respected annual market statistical analysis, authored by the London Business School’s Elroy Dimson, Paul Marsh and Mike… [Read More…]

With the new KiwiSaver ‘Homestart’ program set to go in a month, some providers are worried the enabling legislation may not be enacted in time for the implementation deadline. While providers are gearing up to handle Homestart applications from April 1, the Finance and Expenditure Committee (FEC) considering the ‘Taxation (KiwiSaver HomeStart and Remedial Matters)… [Read More…]

By Greg Bright* Mercer Sentinel is looking to expand its capabilities in workflows among super funds and other clients, targeting inefficiencies between front, middle and back-office systems and procedures. Peter Baker, who joined the firm as Australia and New Zealand head late last year, has already recruited a senior consultant. Baker, who joined from BNP… [Read More…]

Swiss wealth management firm and ANZ global equities partner, Vontobel Asset Management, has signed up former Russell NZ consultant, Bobby Ross Bostic Jr, to drive institutional sales in Australasia. Bostic, who finished a six-month stint with Russell NZ last February, would support Vontobel AM’s “growing activities in Australia and New Zealand”, the firm said in… [Read More…]

Restricted KiwiSaver and workplace super schemes could face a demand squeeze on independent trustees with just five licensed to date under the new Financial Markets Conduct Act (FMC). Bruce Kerr, head of Workplace Savings NZ, said the “best guess” suggests 20-25 independent trustees should be adequate to service the super industry under FMC – depending… [Read More…]