Investment News

Investment Services Group (ISG) subsidiaries, JMI Wealth and Select Wealth, have ramped up growth efforts with new staff hires this month as well as a platform diversification move for the latter. The discretionary investment management service (DIMS) provider, Select, has named Stephen Hill in a newly created business development role while Joe Byrne joined the… [Read More…]

AMP has confirmed trade sale talks continue apace for its increasingly balkanised asset management business now known as Collimate Capital. In a release last week, AMP said the group was negotiating with “multiple parties” including ASX-listed property investment firm, Dexus, “regarding the potential sale of the assets and business of Collimate Capital”. The news follows… [Read More…]

Australia is set to host its first direct-access crypto exchange-traded funds (ETF) this week with at least two new products due to launch on April 27. In a joint venture between specialist Australian provider ETF Securities and the Switzerland-based 21Shares, the two funds tracking bitcoin and ethereum, respectively, will list on the Cboe exchange (formerly… [Read More…]

Westpac has been stung with total A$113 million in fines for regulatory breaches across almost its entire financial services suite following a ruling in the last of six civil cases handed down in the Australian Federal Court last week. Justice Beach ordered Westpac to pay A$40 million for charging financial advice fees to more than… [Read More…]

Investors and their fund managers have dumped Russian holdings in recent weeks amid worsening horror at the invasion of Ukraine. But active managers could lessen the blow for investors through new opportunities on the other side of a Russian trade. For Ninety One’s emerging markets team, Russia is an “ugly sideshow” to the main investment… [Read More…]

The more-than $330 million Fletcher Building superannuation fund has named Melville Jessup Weaver (MJW) as its new investment consultant. In just-published disclosure documents, the Fletcher retirement scheme, which celebrates its 40th anniversary later this year, confirms MJW in the consultancy role previously held by Russell Investments. MJW principal, Ben Trollip, said the Auckland-based actuarial consulting… [Read More…]

Mercer NZ is recruiting for a new chief investment officer (CIO) to be based in either Wellington or Auckland. The NZ CIO will report direct to Mercer Pacific CIO, Kylie Willment, in a role requiring the successful candidate to “deliver strong investment outcomes for Mercer NZ’s Investment Solutions (IS) clients through excellence in investment decision… [Read More…]

Auckland-based investment boutique, Generate, is to launch five new diversified funds next month across its KiwiSaver and unit trust range. Under the plans revealed last week, Generate will also lower the fees and change the risk profile of its existing products, currently limited to three KiwiSaver funds (plus a series of age-based ‘Stepping Stones’ funds… [Read More…]

Long-established sustainable investment manager Australian Ethical has recruited now NZ-resident, Sean Henaghan, among a number of industry veterans for its investment committee as the fund enters merger talks with Christian Super. Henaghan, former CIO of AMP’s Multi-Asset Group and current CIO of NZ investment firm, Aurora Capital, will join Australian Ethical’s investment committee. Also joining… [Read More…]

AMP Capital is set to offload its infrastructure equity arm to US alternative asset firm, Apollo Global Management, Bloomberg reported last week. The deal would see AMP Capital (now known as Collimate Capital) shed between US$5 billion to US$7 billion of assets, according to Bloomberg, as soon as this week. Former AMP Capital global head… [Read More…]