The investment arm of financial institution, State Street, has forecast a bonanza ahead for environmental, social and governance (ESG) investment service providers as the sector explodes into the mainstream. In a new report on the phenomenon, State Street Global Advisors says the ESG “solutions space” is likely to expand rapidly in five key areas as… [Read More…]
Investment News
A fraction of almost nothing: Fidelity lowers the bar on DIY portfolio management
Fidelity Investments will start serving up self-selected fractional shares reconstituted as diversified portfolios to the retail market in the US. In its latest ‘direct indexing’ product update, investors in the new Fidelity Solo FidFolios can create a portfolio of up to 50 US stocks, allocating a minimum US$1 to each share. According to a release,… [Read More…]
‘The return of fear’: risk capital pulls back
Proxies for risk capital are dipping, with long-term implications for financial market returns. The question is whether this will be a repeat of the Covid Crash or a repeat of the Tech Wreck. “While it is easy to call the market movement in 2022 a correction and to argue that it is overdue, it is… [Read More…]
Another executive exit at FMA; Mercer names interim CIO; IIS makes two senior hires; Flint finds new chief
The Financial Markets Authority (FMA) will lose its third top table executive this year following the resignation of director of external communications and investor capability, Louise Nicholson. During the year-to-date the FMA has also seen the departure of Sarah Vrede, head of capital markets, and Karen Chang, head of enforcement – both to chief executive… [Read More…]
Lifetime unwraps Aon master trust as Fisher re-gifts
In a quick hand-off last week, Fisher Funds sold its recently acquired Aon employer super master trust to pension management specialist, Lifetime Retirement Income. Lifetime will see funds under management almost double to $450 million after absorbing the Aon scheme, which reported assets of about $208 million (held on behalf of 2,229 members) as at… [Read More…]
Regulators prep for real COFI regime
Financial institutions caught by the just-introduced conduct-licensing legislation should be able to apply for entry tickets by the middle of next year. Parliament passed the Financial Markets (Conduct of Financial Institutions) Amendment Act, or COFI, into law on June 28 with the royal stamp of approval inked the following day, setting a deadline at last… [Read More…]
Buddle Findlay goes down the wholesale rabbit-hole…
Legal firm Buddle Findlay has defended the currently under-review NZ wholesale investment regime as fit-for-purpose despite needing of a few minor repairs. In a group-authored opinion published late in June, Buddle Findlay argues the existing wholesale investing framework in NZ provides a reasonable balance between enabling cost-effective capital-raising for businesses “and the information needs of… [Read More…]
… as FMA claims Du Val win
Wholesale property fund manager, Du Val, has ended its legal battle against the Financial Markets Authority (FMA) after losing in a landmark court decision last week. Du Val had challenged the FMA over an order to amend advertising deemed as ‘misleading’ by the regulator last October. Despite finding some of the regulatory legal arguments were… [Read More…]
Sovereign wealth funds lift their game on governance
The world’s state-owned investors (SOI) have made progress in leaps and bounds on governance and sustainability. Locally, the Future Fund and NZ Super lead the way. Oceania is well represented in Global SWF’s 2022 Governance, Sustainability and Resilience (GSR) leader board, with the Future Fund and NZ Super once again tying with big international pensions… [Read More…]
Jarden survey finds ESG rewards
Australasian institutional investors have seen a clear link between market performance and better corporate implementation of environmental, social and governance (ESG) standards. In its inaugural ESG survey of 20 institutional fund managers in Australia and NZ, wealth management firm, Jarden, found the vast majority of listed companies appear to benefit from adopting a more responsible… [Read More…]