Australian private debt specialist, Revolution Asset Management, has opened up its flagship fund in a portfolio investment entity (PIE) wrapper for NZ wholesale and institutional clients. The PIE feeds into the underlying Revolution Private Debt Fund II, an Australia-domiciled vehicle launched in 2019 targeting assets such as “private corporate loans, real estate debt (no construction… [Read More…]
‘A strange new beast’: Why Grantham’s bubble didn’t pop
In the first half of 2022 the market fell almost as much as it did when Europe tumbled into World War Two. Then it reversed course – and famed bubble spotter Jeremy Grantham says a new artificial intelligence bubble is the cause. Jeremy Grantham made his career calling and dodging market bubbles, so it’s inconvenient… [Read More…]
How to invest in cats: very carefully
The increasingly popular catastrophe bond market is unlikely to suit the majority of NZ investors due to opaque risk disclosures and byzantine fee arrangements Makao Investments argues in a new paper. Published last week, the Makao analysis says while ‘cat’ bonds can act as a good portfolio diversifier, underlying product nuances render the asset class… [Read More…]
Schroders opens door on private equity for retail market
Along with most other alternatives, private equity has traditionally been a game for the big end of town. But storied UK-headquartered investment firm, Schroders, is looking to take private equity (PE) down to street-level NZ investors with a fund-of-funds strategy designed to resolve some long-standing retail roadblocks to the asset class. On tour this side… [Read More…]
‘Let’s not lock ourselves into one corner’: institutions get nimble on portfolio changes
Many of the world’s largest institutional investors are doing what the market tells them and moving faster on asset allocation changes and investment decisions as uncertainty spikes. According to the 2024 EQuilibrium survey published by US asset manager Nuveen last week, a more uncertain investment environment is accelerating the pace at which some institutional investors… [Read More…]
ANZ funds loses two heads as investment team shake-up rolls on
ANZ Investments has suffered a double-blow with two long-time senior members of the funds management team set to leave. The bank-owned business told clients today that Craig Tyson, head of Australasian listed property, and Maaike van Tol, head of asset allocation, would both be exiting the $33 billion plus funds management business over the next… [Read More…]
Local third-party managers dumped from BNZ funds in first move for FirstCape
BNZ Investments has given notice to all third-party fund managers looking after Australasian assets in a move that will likely see Castle Point, Mint, Nikko and the First Seniter RealIndex stripped of mandates. The decision follows the formal Jarden shareholder vote last week approving the creation of FirstCape – the new entity set to house… [Read More…]
Asset rejig sees $150m Hawke’s Bay council fund portfolio out to market
The Hawke’s Bay Regional Council (HBRC) has put a $150 million wholesale mandate in play after consolidating investment assets in a single entity and dialling up its risk profile late last year. As part of the strategic rethink, the Council delegated management of all investment assets to the Hawke’s Bay Regional Investment Company (HBRIC) subsidiary… [Read More…]
Annuitas looks for a consultant or two
Up to two consultancy gigs are up for grabs at the NZ government pension fund investment manager, Annuitas. The Wellington-based Annuitas, which manages about $6.6 billion via the Government Superannuation Fund (GSF) and the National Provident Fund (NPF), put a tender out last month covering investment advisory work as well as providing “assurance and guidance… [Read More…]
Milford now an item on Sharesies KiwiSaver menu
Sharesies has added the Milford Aggressive Fund to its list of KiwiSaver diversified options, joining SuperLife/Smartshares, Pathfinder and Pie Funds on the roster. Members of the fast-growing KiwiSaver scheme, which topped $100 million at the end of last year, must direct at least 50 per cent of contributions to one of the now six underlying… [Read More…]