Investment News

New data from the Reserve Bank of NZ (RBNZ) has confirmed the first half of 2022 as the worst in more than a decade for local investors as year-on-year funds under management figures turned red. According to the just-released RBNZ statistics, the NZ managed funds sector shrank 5.6 per cent over the three months to… [Read More…]

Public Trust has found an internal replacement to head the corporate trustee arm following the surprise departure of Andrew Hughes in June. David Callanan has moved across from the chief legal and risk officer role to general manager corporate trustee services (CTS) for the government-owned licensed supervisor. Prior to joining Public Trust in 2019, Callanan… [Read More…]

Faulty advice has cost Australia’s largest financial institutions A$3.6 billion in a long-running compensation process due to end early next year. The Australian Securities and Investments Commission (ASIC) has been chasing the six institutions – AMP, ANZ, Commonwealth Bank of Australia (CBA), Macquarie, National Australia Bank (NAB) and Westpac – since 2016 for a series… [Read More…]

Two old-time Australian fund management rivals have hooked up in a marriage of convenience aimed at maintaining scale for their out-of-favour active styles. Under a merger proposal unveiled last week, Perpetual, will buy fellow ASX-listed investment manager, Pendal, in a scrip-and-cash deal valued at A$2.5 billion. The A$757 million cash component will be debt-funded. Pendal,… [Read More…]

The competing and often contrary missives of environmental, social and governance (ESG) evangelists have long been a sticking point for many professional investors used to more definitive data. And the recently appointed Franklin Templeton (FT) global head of sustainability, Anne Simpson, said fund managers are right to be wary of unsubstantiated ESG claims. “Investment managers… [Read More…]

Potential sub-par performance of sustainable strategies has re-emerged as a top concern for institutional investors, according to a new global survey. The Schroders 2022 survey of more than 770 global institutional investors representing US$27.5 trillion in assets under management found more than half of respondents cited performance as a key concern around sustainable investment. “After… [Read More…]

Cambridge-based firm, Moneyworks, has become the first financial advisory practice in NZ to earn the coveted B Corp Certification – a global mark of sustainable business best practice. Moneyworks joins ethical fund house, Pathfinder, along with Sharesies, Kiwibank, the Co-operative Bank and Liberty Financial as one of the few B Corp-certified businesses operating in the… [Read More…]

MMC chief, Vedran Babic, is to leave the business at the end of September with chief operating officer, Renée Tourell, stepping into the top role as the firm rebrands as Apex Group NZ. In a release this afternoon (Wednesday, August 24), Apex confirmed Babic would finish up at the end of next month just over… [Read More…]

Craigs Investment Partners chief operating officer (COO), Ryan Bacher, has resigned after just over two years in the role. It is understood Bacher is returning to his previous employer, the UK-headquartered financial institution Barclays, to take up a high-powered position in Paris. Prior to joining Craigs in April 2020 as inaugural COO he served as… [Read More…]

Smartshares has increased its share of the NZX revenue pie by about 5 per cent year-on-year over the first half of 2022 relative to the group’s overall income as a new master trust acquisition and default KiwiSaver status came online. According to the latest NZX interim report for the six months to June 30, the… [Read More…]