The NZX-owned Smartshares has signalled a further foray into the fund-hosting game after striking a deal with Craigs Investment Partners. According to a NZX spokesperson, Smartshares is “providing Craigs with investment services and fund manufacturing for two funds they wanted in a portfolio investment entity (PIE) product for their client network”. “These services are an… [Read More…]
Aurora KiwiSaver dives into local private debt fund…
Local private debt manager, Private Capital Group (PCG), has secured a KiwiSaver mandate in a likely first allocation to the asset class for the sector. Aurora Capital, investment manager of the associated namesake $260 million KiwiSaver scheme, will initially target a weighting of 3 per cent to the PCG fund across two of its diversified… [Read More…]
… as Aurora adviser group goes to Haven
The Aurora Financial advisory group founded by entrepreneur Simon Rolland has been rebranded as Enva following a sale to interests associated with the Haven insurance and mortgage network last month. With more than 80 advisers operating under its umbrella, Enva is now majority owned by the HBTC entity, which also has a 100 per cent… [Read More…]
ACC flags material concerns over shareholder rights roll-back
The Accident Compensation Corporation (ACC) fund has urged the NZX to retain shareholder disclosure rules for material and related party transactions amid back-pedalling in other jurisdictions. Blair Cooper, ACC Investments head of equities, said the circa $50 billion fund was especially wary of moves in the UK to soften shareholder protections. Among other proposals, the… [Read More…]
Klipin wraps up at FSC ahead of new body move; NZ advice industry group hires for growth
Financial Services Council (FSC) chief, Richard Klipin, formally ends his seven-year stint heading the industry body this week with a short break between his next gig in Australia. Klipin takes over as CEO of the National Insurance Brokers Association (NIBA) in Australia on May 27. He joined the FSC as chief in 2016 at a… [Read More…]
Institutional investors go private big-time, State Street finds
Private markets could be almost on par with listed assets in institutional investor portfolios before the end of this decade, according to a new State Street study. The third annual State Street global poll of 480 institutions on private markets allocations found the proportion of respondents holding more than half of their portfolios in the… [Read More…]
AQR study finds equity risk premium sinks, liquid alts rise in high-rate tide
Liquid alternatives offer investors the best hope of generating excess returns as interest rates linger at the high-water market, according to a new study by quant manager, AQR. The report published in April edition of The Journal of Portfolio Management found most asset classes have historically struggled to rise above a “higher cash-rate tide”. “All… [Read More…]
Don’t let perfect be the enemy of good
Rachel Tinkler, Mint Asset Management, head of responsible investment, recounts the many small steps on the way to a sustainable future… Living in a sustainable way was a feature of my household long before it became part of the mainstream culture. One of my earliest memories is sitting at the kitchen table, chatting with… [Read More…]
ANZ to shutter $3bn wholesale funds arm
ANZ Investments is to close down its roughly $3 billion wholesale funds business by the end of August amid client attrition and a flagged shake-up of the group’s retail and KiwiSaver proposition. In a note this morning, ANZ told clients it had made the “difficult decision to exit our Wholesale business”. According to the note,… [Read More…]
FirstCape wins and loses in Hawke’s Bay council decision…
Mercer and Jarden (sort of) have missed out on reappointment to a previously shared $150 million mandate with the Hawke’s Bay Regional Council (HBRC). As reported last month, HBRC fielded six bids to manage a juiced-up risk portfolio after putting the council fund investments out to tender late in 2023 with Harbour Asset Management understood… [Read More…]