Harbour Asset Management has seen the departure of two veterans with the exits of long-time chair, Graeme Wong, and executive director, Ainsley McLaren. McLaren has served as executive director client engagement at Harbour for about eight years following an almost 30-year career in the local institutional funds sector including senior investment positions at ASB and… [Read More…]
Adminis plays host as Munro dishes up climate PIE
Australia-based global equities manager, Munro Partners, has formally opened a portfolio investment entity (PIE) vehicle for wholesale NZ clients. Hosted by Adminis, the Munro Global Growth Climate Leaders PIE, invests into a concentrated portfolio of stocks expected to “enable or benefit from the decarbonisation of the planet”, according to fund documents. It is understood the… [Read More…]
IRD lands on zero-rate for fund fees, full freight for outsourced admin in GST finale
Insourced admin is out and outsourced admin is in, the Inland Revenue Department (IRD) has determined in a new GST ruling likely to disappoint the local boutique funds management community… again. The IRD ‘interpretation statement’ handed down last week largely repeats the position laid down in a draft consultation paper published last August aimed at… [Read More…]
Massive hack stings Australian super giants, puts KiwiSaver schemes on notice
Several large Australian superannuation funds were stung with a coordinated cyber-attack at the end of March that saw a handful of accounts drained and member data stolen. In a warning for KiwiSaver providers to ensure digital security arrangements are up to date, the targeted hack saw some members of AustralianSuper – the biggest fund in… [Read More…]
Survey finds greenwash worries damper sustainable growth in face of strong demand
The Responsible Investment Association of Australasia (RIAA) has called for a “cohesive framework” in NZ for naming funds marketed as ‘sustainable’ and the like. According to a new report based on a survey of 1,000 New Zealanders, accurate fund branding could help dispel so-called ‘greenwashing’ concerns that has proven one of the main barriers to… [Read More…]
Token steps: Calastone, DTCC advance blockchain investment use-cases
Global fund network, Calastone, has switched on a new service allowing asset managers to convert traditional products into ‘tokenised’, blockchain-friendly vehicles. In a release last week, the UK-headquartered firm said the Calastone Tokenised Distribution system offers a “frictionless” route for managed funds into the growing blockchain-verse built on protocols such as Ethereum, Polygon, and Canton…. [Read More…]
New BlackRock: Fink outlines private transformation
A reconstituted BlackRock is poised to crack open private markets for everyday investors in a transition that could see a 20 per cent allocation to alternative assets as standard, according to chief executive, Larry Fink. Fink told investors in his annual letter last week that the firm had radically transformed from a regular stock-and-bond shop… [Read More…]
Consilium to double-down on KiwiSaver with home-brand scheme
The KiwiSaver market is set to welcome another player to the competition after a long dry period with a second Consilium offer due to go live mid-April. Launched under the Consilium in-house investment banner, Evidential, the new KiwiSaver offer targets mid-market advised members via a mix of three diversified funds as opposed to the group’s… [Read More…]
Rātā buys, invests into Pathfinder in private equity first
The $700 million Rātā Foundation has taken a 25 per cent stake in Alvarium Wealth/Pathfinder while also awarding Pathfinder a $10 million mandate amid a clean-out of its Australasian equities managers. Under the deal revealed today, Rātā will own a quarter of Alvarium Wealth Management Holdings – the parent entity of the NZ Alvarium wealth… [Read More…]
Foundation North chief resigns; Mapua on consultant hunt; Apex looks to fill custody gap; COFI opens head of banking job at FMA; Mosaic adds principal to the picture
Foundation North chief, Peter Tynan, has resigned According to a statement from the Foundation North board, Tynan will end his six-year tenure at charitable trust “at the end of August this year”. “Trustees and staff respect his decision to move on and warmly thank him for his significant contributions,” the statement says. “Through the disruptive… [Read More…]