Investment News

The government has granted the Financial Markets Authority (FMA) a well-signaled massive boost to its coffers with a $14 million year-on-year increase to core Crown funding arrangements. In budget figures released last week the FMA will receive a baseline $67 million to operate over the 2022/23 period compared to $53 million last year. Most of… [Read More…]

A long-standing financial advisory association faces oblivion this week following a bitter board dispute over professional indemnity (PI) cover that spilled over into public acrimony, director resignations and potential legal action. About 170 members have the chance to vote this Friday at a special general meeting (SGM) to decide the fate of the TripleA Association,… [Read More…]

KiwiSaver should soak up about $9.5 billion in contributions this financial year, according to estimates released last week in a budget that held few surprises for the financial services sector. ‘Wellbeing Budget’ figures show the annual KiwiSaver member tax credit (MTC) cost should creep above $1 billion in the 2022/23 fiscal year, up about $30… [Read More…]

Institutional investors remain almost twice as fearful of a market crisis hitting over the next three years compared to retail counterparts, according to a new CFA Institute study. The latest biennial CFA Institute ‘Investor Trust Survey’ found almost 70 per cent of institutional investors expected a market crisis to occur over the next three years,… [Read More…]

It is a truth universally acknowledged, that a fund manager in possession of a concentrated portfolio with high active share must necessarily deliver alpha. Or maybe the truth is not so universal, according to a new JANA research paper. The JANA study, conducted in partnership with Cabot Investment Technology, refutes common investor prejudices that high… [Read More…]

Institutions have another reason to resist the siren song of cryptocurrencies, with new research from US investment giant PGIM refuting many of the arguments in favour of holding the highly volatile asset class. PGIM believes that, beyond exploiting inefficiencies to generate alpha on the other side of FOMO flows, “there is currently no compelling case… [Read More…]

Australian exchange-traded fund (ETF) provider, BetaShares, is to make its debut official live appearance in NZ next week ahead of a slated local product launch later this year. Thom Bentley, BetaShares NZ head of adviser and institutional, said the triple-city series of adviser lunchtime briefings marked the group’s first formal investment presentations this side of… [Read More…]

The Australian Securities and Investments Commission (ASIC) is seeking feedback on new derivative data standards that may have implications for investment firms across the Asia-Pacific region. In the second of its consultation papers on the issue, the Australian regulator lays out plans to harmonise complex derivative trading processes with emerging global technical standards. The 229-page… [Read More…]

NZ investment industry legend, Brian Gaynor, has died after a short illness. Gaynor co-founded NZ’s most successful investment boutique, Milford Asset Management, in 2003 following a long career in the industry that included a stint as partner and head of Jarden & Co. Milford now has more than $16 billion under management. He also served… [Read More…]

The Financial Markets (Conduct of Institutions) Amendment Bill limped through its second reading last week almost 11 months to the day since the COVID-interrupted process began. After a short, half-hearted debate that spilled over two days (not including the June 10, 2021, session), Labour pushed through COFI to the next stage with the support of… [Read More…]