Retail investors will have access to so-called ‘green’ bonds on the same disclosure-lite terms as colourless NZX-listed fixed income securities under proposals tabled by the Financial Markets Authority (FMA) last week. Liam Mason, FMA general counsel, said the regulator opened consultation on the mooted ‘same class’ exemption following feedback from industry and sustainable finance lobby… [Read More…]
NZ Super finds new board member; Mosaic opens AI education; JANA shifts two senior staff to implemented jobs
The NZ Superannuation Fund (NZS) has filled one governance vacancy, naming Tainui Group chair, Hinerangi Raumati-Tu’ua, as a new board member last week. Raumati-Tu’ua has held “directorships with iwi organisations, listed companies, and Crown and Council-Controlled entities, among them the Reserve Bank of New Zealand and Genesis Energy”, according to a NZS statement. Newly appointed… [Read More…]
New adviser body arises from ‘legacy’ organisations
Another financial adviser organisation has formally emerged from two ‘legacy’ groups amid a proliferation of niche industry associations. In a move flagged last year, the Triple A Advisers Association – a life insurance-related group with roots dating back to 1949 – and Plus4 Insurance Solutions have joined up to create a body that will “initially… [Read More…]
Shorter cycles, higher inflation, more ups and downs: what investors will be wearing next
Investors should prepare for the old normal to flare-up as seen in the 1970s of entrenched inflation and short, volatile market cycles, according to Wellington Management macro strategist, John Butler. Butler says in a recent note that the last two decades of mostly benign economic conditions of almost no inflation in either growth or flat-to-negative… [Read More…]
Private markets boom will produce ‘the good, the bad and the ugly’
Every investor wants access to the private markets, and every manager – established or otherwise – wants to help them get it. But when there’s a “new product every day”, how many of them will be any good? It’s still a tough fundraising environment for private market managers, with potential investors holding their breath –… [Read More…]
Art of investing: journey from shadows to spotlight
Marek Krzeczkowski, Mint portfolio manager, explains why investment process is the most reliable guide through the complex ever-changing terrain of financial markets… Imagine a child growing up in communist Poland in the 80s. Picture the grand, yet ultimately hollow, promises of five-year government plans that fizzled out before they could light any real fire… [Read More…]
California here he comes: NZ Super chief investment officer quits for coveted CalPERS job
The NZ Superannuation Fund (NZS) has confirmed chief investment officer, Stephen Gilmore, has resigned after winning the same position at one of the world’s largest pension funds. Gilmore will leave the $70 billion plus NZS to assume the CIO gig at the almost US$500 billion Californian government employee pension fund, CalPERs in June. His departure… [Read More…]
Period drama: global shares star, commodities fall in Mercer 2023 production
Mercer has dished out another lesson in asset class dramatics with a winning performance by global equities and a riches-to-rags story for commodities as seen in the group’s much-anticipated annual investment returns recap. The 2023 edition of the Mercer ‘periodic table’ of asset class performance reveals unhedged global equities stole the show for NZ investors… [Read More…]
Vanguard cops greenwash guilt in blurry ASIC victory
The Australian Securities and Investments Commission (ASIC) has claimed its first legal ‘greenwashing’ scalp after a muted court win against Vanguard last week over a global bond fund offered on both sides of the Tasman. In a release, the Australian financial regulator says Federal Court Justice O’Bryan found the global passive investment firm breached the… [Read More…]
ChatFMA: regulator flags governance, legal adaptations as AI moves in
New artificial intelligence (AI) tools such as ChatGPT may trigger a legislative and governance upgrade for the NZ financial services sector, according to senior regulator, Daniel Trinder. In an article penned last week, the Financial Markets Authority (FMA) strategy and design executive director says the rise of ‘generative’ AI could have profound consequences for how… [Read More…]