Privacy is having a moment. Following an incessant flow of data breaches and the unauthorised release of personal information in recent years, governments across the world have created new legislative and regulatory regimes designed to protect consumers. While not directed explicitly at financial services, the sector – as custodian of some of the most sensitive… [Read More…]
Investment News
CFA study finds advisers relax as robo-fears fade
Financial advisers remain the most unfazed of all investment industry professionals about potential job disruption after fending off the robo-challenge, a recent CFA Institute survey reveals. According to the CFA global survey of over 11,000 investment professionals conducted in 2021, ‘private wealth managers’ (and advisers generally) reported the largest easing in concerns about their future… [Read More…]
BlackRock tips end of dip-buying; falls under targets in June quarter
The end of supportive monetary policy is bringing wild market volatility with it, and the old impulse to “buy the dip” will no longer be rewarded. More than 20 years of falling interest rates has had a Pavlovian effect on investors, conditioning them to buy the dip whenever markets experience so much as a hiccup…. [Read More…]
Managed funds see record outflows as bear market bites
There’s no end in sight for the pain in equity markets, and investors are rushing for the exit. But Australian equities offer a bright spot. While fund managers are offering up everything from declining short interest to super-sized rate hikes as evidence that markets will soon bottom, their investors seem less than convinced. Australian domiciled… [Read More…]
UPDATED: BNP Paribas NZ head to leave; Annuitas chief resigns; FMA fills enforcer gap; Midlands seeks new CEO; BlackRock evolves ETF Australasia role
BNP Paribas Securities Services NZ head, Doug Cameron, will leave the business in October with long-time deputy, Iain Martin, to step into the role. A BNP Paribas veteran of some 20 years, Cameron has led the NZ arm of the French bank-owned global custodian for the last eight years. Martin has been there most of… [Read More…]
Retail funds under water; Booster sees annual flow growth of almost 80%
All boats sank a little during the March quarter as inflows of $7.2 billion failed to anchor the NZ retail funds sector amid turbulent investment markets. According to the latest numbers from Australian research house Plan for Life (PFL), the NZ retail funds market slipped back 3.8 per cent over the March quarter, or $5.8… [Read More…]
Magellan outflows go on, sales head to quit
Embattled Australian investment firm, Magellan Asset Management, reported another round of significant outflows over the June quarter while long-time head of sales, Frank Casarotti, also scheduled his departure. In an ASX release last week, Magellan confirmed funds under management (FUM) had slumped about A$8.7 billion during the three months to June 30 as net outflows… [Read More…]
Huge KiwiSaver account study backs simple, generic advice for retirees
A just-released in-depth analysis of almost 500,000 KiwiSaver accounts has confirmed personalised advice remains out of reach for the majority of members at, or close to, retirement age. The Retirement Income Interest Group (RIIG) – a sub-committee of the NZ Society of Actuaries – study found that the overall “modest” account balances of members aged… [Read More…]
Direct warning: regulator consults on share, IPO advice
The Financial Markets Authority (FMA) has signaled the need for greater regulatory scrutiny over advisers who recommend direct equities. In a consultation paper published last week, the FMA says advisers must source credible research and clearly document the process when urging clients to buy listed shares or take up initial public offerings (IPOs). Linking the… [Read More…]
Why inflation will last decades longer than you think
Central bankers are hoping to subdue the inflation beast by the end of the calendar year. But it will likely be around for decades to come. The sharp rise in inflation in the world’s developed economies has investors and central bankers running scared. It’s an old enemy, and the playbook for beating it has not… [Read More…]