KiwiSaver provider rankings remained more-or-less steady at the end of the June quarter aside a minor reshuffle at the bottom-end of the market, the latest Morningstar review of the sector reveals. Following a torrid end to 2021 that saw more than half of the 23 providers move either up or down the table as measured… [Read More…]
Investment News
Discovery set for wholesale journey; Pie refills
Newly formed Australasian equities wholesale boutique firm started by former Pie Funds portfolio managers has already seen “strong interest” from investors ahead of a formal launch next month. Chris Bainbridge, who left Pie this March after almost 10 years at the business, said Discovery Funds Management – a company he co-founded with former colleague, Mark… [Read More…]
Hassell eyes LIT gigs; Mint refreshes investment team as CIO departs; Foundation North searches for head of investments
Former AMP Capital global head of fixed income, Grant Hassell, has joined the local licensed independent trustee (LIT) community after gaining a regulatory stamp of approval last week. Hassell, who remains chair of AMP Capital NZ successor company now owned by Macquarie, brings the LIT numbers up to 35. Established under the 2013 Financial Markets… [Read More…]
Quant manager engages greenwash-detector in ESG number-cruncher
“Many people think that quants can’t engage [on ESG],” Moniz said. “But we have dispelled that myth, showing the value of a systematic understanding of data and using AI [artificial intelligence] to create corporate engagement at scale.” Moniz joined the Boston-headquartered quant shop, Acadian Asset Management, as responsible investment director in March 2021, bringing the… [Read More…]
Crypto-critic regulatory calls mount as data shows rising risks in Australasia
Trustees Executors chief, Ryan Bessemer, has warned Kiwi investors off excess cryptocurrency consumption as celebrity-endorsed pump-and-dump schemes proliferate. In a release, Bessemer singled out the ill-fated SafeMoon crypto experiment promoted by alleged “A-list celebrities, including Nick Carter, Soulja Boy and YouTubers Jake Paul and Ben Phillips”. “SafeMoon tokens were first sold in 2021 and increased… [Read More…]
European study finds value in active… at the right price
Reports of the death of active management may have been premature with a new study confirming the out-of-fashion investment style can still add alpha after (cheaper) fees. As reported in the Financial Times (FT) last week, the ‘Fund Selection: Sense and Sensibility’ study of certain Europe-based investment products over a 12-year period to the end… [Read More…]
Time for ‘storm management’ in private equity
The attractive returns that private equity (PE) has enjoyed for the last few years are set to collide with skyrocketing inflation as another business cycle draws to its close. Spiking inflation could “precipitate a recession that starts in September, peaks in October, and then drops back to the long-term trend by September PE investing, according… [Read More…]
FMA greenwash dish highlights gap in regulatory menu
Legal firm Dentons Kensington Swan (DKS) has called for more disclosure flexibility for “evolving products” in the wake of the recent regulatory broadside against responsible investment manager compliance practices. The DKS analysis says the Financial Markets Authority (FMA) review of so-called ‘integrated financial products’ – or IFPs – highlights the need for reform of an… [Read More…]
Tuvalu swaps Russell for Mercer in A$280m mandate
Mercer has picked up a A$280 million investment mandate in Tuvalu, replacing short-term incumbent Russell Investments NZ as manager of the tiny Pacific Island’s sovereign wealth funds. Under the deal announced last week, Mercer will convert the core A$200 million Tuvalu Trust Fund (TTF) to an implemented consulting model while also managing three other government… [Read More…]
FNZ to take 75% in Hatch-Jarden JV
Jarden will be the junior partner in mooted tie-up with the FNZ-owned US trading platform, Hatch, aimed at competing in the direct-to-consumer market. According to a spokesperson for the wealth management firm, Jarden will take a 25 per cent in the as-yet unformed entity with FNZ holding the remaining equity. Under the partnership revealed last… [Read More…]