The classic fund manager distribution model is due for an overhaul with traditional distribution relationships set for technology-led disruption, according to a new global report. Asset managers will have to become deeply intertwined with distribution partners to offer end clients a more personalised service, the Oliver Wyman/Morgan Stanley study says. “We expect a significant shift… [Read More…]
Investment News
‘We go where the pain is’: value, after the bubble
A punishing, indiscriminate sell-off has left opportunities lying on the floor. After a 13-year “anti-value phase”, the style is coming back into style. It seems that value is back – not just in a sputtering short-term rally that will soon be dispatched by rejuvenated growth stocks, but in a new cycle that US-based Pzena Investment… [Read More…]
BlackRock makes more impact, BNP Paribas takes back-office control in ASB shake-up
ASB has revamped its KiwiSaver and investment offering again, dropping some underlying managers and finally cutting administrative links with an Australian former associated firm. In changes revealed last week, the $20 billion-plus ASB dropped Mercer and Vanguard as underlying managers for its Positive Impact fund while handing BNP Paribas Fund Services a large chunk of… [Read More…]
Fisher lines up Aon members for July investment switch
Aon KiwiSaver members will be shifted en-masse into a Fisher Funds scheme next month as the new owner rationalises its recent purchase. Fisher advised Aon members early in June of the impending move into like-for-like funds in the Fisher Two KiwiSaver scheme that would see a maximum of about $800 million flowing out of current… [Read More…]
FMA hunts for chief economist
New Financial Markets Authority (FMA) boss, Samantha Barrass, is putting her stamp on the now big-budget regulator by adding a chief economist to the executive ranks. According to a FMA spokesperson, Barrass pushed for the creation of the “important new role” to bolster the regulator during “a period of significant growth in our mandate as… [Read More…]
It’s COFI-time: long-awaited conduct law set to pass
After a more than 12-month delay the much-anticipated Financial Markets (Conduct of Financial Institutions) Amendment Bill – aka COFI – should complete its passage through parliament this week. Falling just 30 minutes shy of wrapping up all speeches in its third reading last Thursday, COFI has eighth slot on the order paper for the six-hour… [Read More…]
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Climate body rounds up support for full-circle investing
Institutional investors might be able to stay ahead of the curve by adopting ‘circular economy’ principles, according to a new report from the Investor Group on Climate Change (IGCC). In the recently published ‘Regenerate & restore’ paper, the IGCC says the circular economy model – a business approach focused on minimising waste, recycling and nurturing… [Read More…]
Perma-bears vindicated, but the damage isn’t over
Prophets of doom have seen their visions of a downturn realised, but the market is still tremendously expensive when compared with the bursting of previous bubbles. The bubble is finally bursting but it took a while. It was last June when inflation flashed onto the scene for the first time since the 1970s, rapidly becoming… [Read More…]
Global study backs Aussie super value-for-money reforms
The controversial ‘Your Super, Your Future’ (YSYF) reforms introduced in Australia last year would’ve weeded out the worst-performers and lifted system-wide returns by up to 0.3 per cent over a decade if applied across the global pension fund universe, a new study has found. According to the analysis by CEM Benchmarking, the YSYF approach offered… [Read More…]