Investment News

Auckland-based consultancy and investment governance advisory firm, MyFiduciary, has opened up a new service offering bespoke fund manager reports. Chris Douglas, MyFiduciary principal, said the firm has completed a handful of in-depth reports following requests from Australia-based managers looking for research coverage in NZ. However, Douglas said the fund manager-commissioned reports are designed as thorough… [Read More…]

The Retirement Income Interest Group (RIIG) of the New Zealand Society of Actuaries has called for better data-led policies to improve KiwiSaver contribution levels and drawdown behaviours. In its second study based on a large KiwiSaver dataset, RIIG found KiwiSaver would boost the retirement income of New Zealanders as intended. “Future KiwiSaver balances at age… [Read More…]

Institutional investors have singled-out a linchpin market liquidity crisis as the worst-case scenario in a new global survey conducted by US asset management firm, PGIM. The poll of 400 investment professionals across six major economies found a liquidity crunch in a key market sector such as US Treasuries ranked as the number one global tail… [Read More…]

Fund platform InvestNow has packaged up two ultra low-cost Vanguard exchange-traded funds (ETFs) with NZ tax wrappers amid rising demand for passive products. Offered under the InvestNow Foundation Series brand, the two funds feed into respective US-listed Vanguard S&P 500 and Total World ETFs – both of which feature single digit basis-point annual management fees…. [Read More…]

Vanguard launched its long-awaited tilt at the A$3 trillion plus Australian superannuation market last week touting an all-in annual fee of 0.58 per cent for its default option. The index behemoth flagged the move almost three years ago, ditching about A$100 billion of institutional client money across Australia and NZ in 2020 ahead of the… [Read More…]

Former Milford Asset Management corporate bond manager, Travis Murdoch, has popped up at Pie Funds in the newly created head of fixed income role. Murdoch departed Milford in September after a two-year stint at the country’s largest boutique manager. Prior to Milford he spent about 15 years in the UK in various investment roles with… [Read More…]

The Financial Markets Authority (FMA) has set the stage for increased monitoring of advice firms under the imminent full licensing regime in new terms of engagement released last week. According to the FMA information sheet, the regulator will require unfettered access to financial advice provider (FAP) documents and business records of those selected for a… [Read More…]

Magellan hit a new low last week as co-founder and one-time chief investment guru, Hamish Douglass, sold down two-thirds of his company shareholding for “family diversification purposes”. In a release to the ASX, Douglass said the off-market block sale engineered by Magellan-linked investment bank, Barrenjoey, saw his family interests pocket over A$118 million after selling… [Read More…]

Specialist software company, SS&C Technologies, has named Trustees Executors (TE) as one of 25 new clients globally to adopt its new ‘front-to-back’ Aloha investment administration platform over the last 12 months. In a release earlier this month, SS&C said the “Australia-based [sic]” TE was among the group of 25 firms located in “more than 15… [Read More…]

Workplace savings schemes and fintechs might face tougher anti-money laundering (AML) provisions in the wake of a government review. The broad-ranging Ministry of Justice probe into the existing AML regime in NZ notes the current exemption that allows certain workplace savings schemes to accept extra employee contributions up to 20 per cent of salary could… [Read More…]