Investment News

The Australian financial advisory sector faces another significant regulatory overhaul under wide-sweeping proposals unveiled last week set to declutter the compliance-clogged industry. Among a raft of other fundamental reforms, the ‘Quality of Advice’ review paper recommends ditching the controversial requirement for advisers to always act in their clients’ ‘best interests’ in favour of a new… [Read More…]

New ship in the NZ funds management fleet officially left the drydock last week with a $20 million launch target in view. Chris Bainbridge, co-founder of Discovery Funds Management, said the wholesale-only business had fielded considerable interest from high net worth investors and advisers in the pre-release period. Bainbridge and co-founder, Mark Devcich – both… [Read More…]

NZ’s largest charitable trust, Foundation North, has booked an almost 9 per cent investment return after fees for the 12 months to the end of March this year. While the roughly $142 million boost (equating to a net-of-fees return of 8.7 per cent) to the community trust’s bottom line was less than half the 2021… [Read More…]

The $2.5 billion charities investment specialist, Trust Management, has named Rachael McDonald, to lead the organisation following the departure of long-time chief, Grant Hope. Hope left Trust Management in July, ending a 20-year stint with the under-the-radar wholesale investment business including the last 12 years as CEO. He now runs his own consulting business, Tūmanako… [Read More…]

Renowned fund manager, Jeremy Grantham, has warned investors to prepare for an “epic” blowout with the recent market resurgence following the script of previous “superbubble” implosions. In the third instalment of his gloomy superbubble trilogy, Grantham, the founder of value fund shop GMO, says the recent bear market rally – that saw the US S&P500… [Read More…]

The Fed Put is dead. Dip-buying is a crutch. Private equity is a “junk bond in disguise”. So get ready for a lost decade for US equities, says Rupal Bhansali, CIO of Ariel Investment Management. “A lot of investors are talking about the pendulum swinging from growth to value, but I believe the pendulum swing… [Read More…]

Licensed supervisors are currently facing a statutory review by the regulator. Trustees Executors, corporate trustee services general manager, Matthew Band, explains why the review is more than window-dressing, opening the door to a more risk-based supervisory world where providers must show, not tell…   Last week the Financial Markets Authority (FMA) renewed Trustees Executors’ (TE)… [Read More…]

Now in its 15th year of production, the Investment News NZ annual KiwiSaver report – released free to subscribers today – opens up on a period of major transition in the sector as default changes bed down and new schemes join the fray. Based, as usual, on data compiled from annual scheme reports, the 2022… [Read More…]

Australian exchange-traded fund (ETF) provider, BetaShares, has hit a snag in its trans-Tasman expansion plans after the resignation of sole NZ employee last week. It is understood, BetaShares NZ head of institutional and adviser relationships, Thom Bentley, has left the ETF pioneer to represent another Australia-based investment firm. A BetaShares spokesperson said in a release:… [Read More…]

In an action-packed agenda for the next 12 months, the fiscally enhanced Financial Markets Authority (FMA) has penciled-in a raft of industry sector reviews along with a structural makeover set down by new chief, Samantha Barrass. According the FMA annual corporate plan released last week, the regulator has slated “risk assessments” for both the licenced… [Read More…]