Investment News

Bitcoin-bugs often stake the claim for the numero-uno crypto as ‘digital gold’ but the real stuff might flip the argument in a new effort to transmute the precious metal into an online commodity. Launched late last year under the auspices of the World Gold Council (WGC), the ‘Gold247’ project is an ambitious plan to turn… [Read More…]

Net zero is now one of the most popular portfolio aspirations for investors as they respond, either willingly or by regulation, to climate change. But while it might be easy to sign up to net zero pledges, investors need to work hard to keep the promise, according to Emily Steinbarth, Russell Investments head of ESG… [Read More…]

Jerome Powell is bent on “driving the car into the ditch”. But if history is any indicator, widespread fears of low single digit returns for equities are overblown. It’s hard to see through the fog of war generated by the chaos of Covid-19 pandemic and the slightly misguided macroeconomic policy that was supposed to fix… [Read More…]

NZ’s two biggest sovereign wealth funds have moved impact investing up the agenda during a year where both reported benchmark-beating losses. In their respective annual reports released last week, the NZ Superannuation Fund (NZS) and the Accident Compensation Corporation fund (ACC) earmark impact investments for more attention in the years ahead. “We have developed a… [Read More…]

AMP NZ earned the right to shop its KiwiSaver scheme to 21,000 supermarket staff in a preferred provider deal with NZ’s largest private employer last week. Under the arrangement with the Australian-owned Woolworths, AMP will pick up defaulted members in the high-turnover Countdown supermarket chain as well as gaining access to all staff for promotional… [Read More…]

Big bank-owned retail fund managers navigated the June quarter market shake-out better than most, according to the latest data from Australian research house, Plan for Life (PFL). The PFL quarterly survey of NZ retail funds shows all of the 10 largest managers bar ANZ, ASB and BT/Westpac saw total assets slide south of -7 per… [Read More…]

Smartshares topped the NZX revenue lines for the first time in the September quarter as surging funds management income countered a steep decline in traditional trading activity on the local bourse. The NZX 2022 third quarter report shows the funds management arm, headed by Hugh Stevens, contributed almost $6.4 million in revenue for the three… [Read More…]

The Bermuda-headquartered Apex Group closed its second NZ deal last week after settling the purchase of fund-hosting and platform business, Implemented Investment Solutions (IIS), for an undisclosed sum. Apex agreed to buy IIS this September following the Boxing Day takeover of Auckland investment administration firm, MMC, last year. Founded by Peter Hughes in 2003, Apex… [Read More…]

The Financial Services Council (FSC) has hired Rachelle HardieNeil as its inaugural chief operating officer (COO) in preparation for more intense lobbying, research and engagement ahead. FSC chief, Richard Klipin, said the board agreed to fund further investment in the industry association management capabilities with a bevy of new laws, regulation and broader challenges brewing… [Read More…]

Mercer has produced a fund manager interrogation list for wholesale investors looking to build due diligence skills. In a recent article, Garth Gregory, Mercer NZ investment consultant lays out the seven key questions trustees and others should ask to tease out more qualitative detail from current or prospective fund managers. “Many of the clients I… [Read More…]