Global private asset markets soared last year as both fund-raising and assets under management hit record highs, more than offsetting a pandemic-led slowdown in 2020. According to the latest McKinsey & Company survey of the sector, private markets assets under management (AUM) rose to US$9.8 trillion as at mid 2021 compared to US$7.4 trillion 12… [Read More…]
Investment News
Equitise fined, under pressure in flat times for peer-to-peers
Australasian crowd-funding outfit, Equitise, has been pinged with a $7,500 fine for repeat reporting failures as the Sydney-based firm scrambles to re-capitalise its operations. The Financial Markets Authority (FMA) penalised last week after Equitise missed its October deadline for filing annual financial statements for the third year in succession. According to the regulator, the licensed… [Read More…]
Prepare to return to the market of professionals
A rising tide lifts all boats – but this one is starting to recede. After the post-Covid liquidity mania, the best of the best will have a chance to prove themselves once again. The world’s stock pickers have been in a rut these last few years. A phenomenal bull market has given them little chance… [Read More…]
Macquarie takes charge, Hassell to chair as AMP Capital NZ chapter ends
AMP Capital NZ completed its transition to Macquarie hands last week with the local management team remaining in place and former head, Grant Hassell, assuming chair duties. According to just-updated scheme documents, Hassell, previously AMP Capital global head of fixed income, is now chair of Macquarie Asset Management NZ (MAMNZ). Macquarie Asset Management Australia lists… [Read More…]
Harbour books solid profit, $6m Hunter price-tag
Harbour Asset Management reported a net profit after tax of about $1.2 million last year during a period that included its $6 million buyout of the Hunter global fixed income fund. According to the Harbour annual accounts filed last week, the Wellington-based boutique “acquired the licensed manager rights to the Hunter Global Fixed Interest Fund…… [Read More…]
BayTrust makes global equities move in responsible rethink
The $250 million plus BayTrust has shifted about $30 million in global equities to UK manager Baillie Gifford following a review based around the fund’s recently upgraded sustainable investment principles. Alastair Rhodes, BayTrust chief, said the community trust has just completed the transition to Baillie Gifford from portfolios previously managed by RWC and GQC. “Both… [Read More…]
Fund-host welcomes inaugural COO; NZ Super in executive search; AMP Capital castaways land in HSBC, Maple-Brown Abbott
Wellington-based fund-hosting firm, Implemented Investment Solutions (IIS) has hired industry veteran, Paul Bishop, in the newly created role of chief operating officer (COO). Most recently head of funds management for Auckland boutique, NZ Funds Management, Bishop spent 12 years as COO for investment administration firm, MMC, ending in mid 2018. He also served in accountancy… [Read More…]
Magellan explores new options to bolster staff, investors
Embattled listed Australian funds management group, Magellan, has moved to shore-up key staff under a triple-pronged retention plan revealed last week. In addition to a double-whammy bonus payment program – falling due in September 2024 and 2025 – the manager will ease terms on staff loans and issue 10 million options set to vest in… [Read More…]
Sub-par performance: NZ falls short in Morningstar fund fee study
The NZ funds industry has been marked down a notch by research house, Morningstar, in its latest assessment of fees. NZ has sunk to average in the fee rankings, according the research house report released last week, as it fell behind offshore peers over the last couple of years. Greg Bunkall, Auckland-based Morningstar data director,… [Read More…]
Future is bright for futures as S&P/NZX20 index gathers steam
More global investors could be attracted to the NZ market following the proposed third-time-lucky launch of the S&P/NZX20 Index Futures later this year, according to BNP Paribas Securities Services NZ head, Doug Cameron. In release last week, Cameron said the mooted NZ equity derivative index – expected in the final quarter of 2022 – should… [Read More…]