US-based global bond manager, Western Asset Management, has seen massive outflows in the wake of legal probes into trading practices revealed earlier this year with more exits likely as authorities circle. According to a Bloomberg report last week, the US Attorney’s Office in New York had grilled a number of other managers including Fidelity Investments… [Read More…]
Investment News
T Rowe growth story turns page to insurance, EM
“Insurance,” according to a 2020 Morningstar report, “is one of life’s necessities that people grudgingly pay for, and investors usually don’t get too excited about the sector, except as an income play.” But Scott Berg, T Rowe Price portfolio manager, has flipped the traditional view of insurance as a low-growth backwater, suitable for value enthusiasts… [Read More…]
KiwiSaver innovation in a mature market: why process matters
As KiwiSaver providers navigate a maturing sector, the need to differentiate and innovate is more important than ever. But Sevaka founder, Clive Fernandes, suggests KiwiSaver firms can stand out from the pack by rethinking processes rather than product-creation in a world where investment is increasingly commodified… Traditionally, companies approach innovation with either a product… [Read More…]
Australian Ethical plunges into Charles River
Australian Ethical will use the Charles River Investment Management Solution (IMS) to automate front and middle office processes for its entire investment portfolio across risk management, trading, compliance, performance measurement and attribution, IBOR and transaction management. Owned by State Street, Charles River and its IMS are used by 325 clients globally, managing more than US$59… [Read More…]
Thorny product problems persist as asset consultants branch out
The history of pension funds has been – to roll out a cliché – a history of change. But it’s hard to deny that cliché when you consider just how much change there’s been. In the not-too-distant past, asset management wasn’t even part of the conversation, and pensions themselves were largely defined benefit, mostly funded… [Read More…]
No impact: ASB pulls the pin on positive product
ASB has shuttered its BlackRock-managed Positive Impact Fund ahead of a full wind-up next year, citing the closure of an underlying strategy and weak demand. In a statement, Adam Boyd, ASB executive general manager personal banking, said the impending shutdown next January of the BlackRock Global Impact Fund triggered the bank’s move to axe its… [Read More…]
Black is back: MJW finds funds in double-digit form
The majority of funds in the Melville Jessup Weaver (MJW) investment survey universe across almost all asset classes posted double-digit returns over the 12 months to September 30. Upbeat bond and equity markets also translated to similar double-digitness (after fees) in the MJW KiwiSaver cohort, which covers about 95 per cent of funds under management… [Read More…]
Red letter day for postie scheme as Mercer transfer looms
NZ Post is set to wind down its long-running in-house superannuation scheme to follow the well-trod path of traditional employer-based funds to a master trust solution. After gaining approval from the Financial Markets Authority (FMA) this month, the $125 million NZ Post super scheme will start transferring member funds across to the Mercer super trust… [Read More…]
MyFiduciary rebrands; Castle Point co-founder goes to ForBar; Simplicity takes on star economist; FNZ tops up global C-suite
Investment consulting firm, MyFiduciary, has joined the rebrand-trend with the unveiling of a new name last week. The advisory firm, which entered a formal joint venture with IWIinvestor last year, is now known as Mapua Wealth. Mapua means “prolific, bearing an abundance of fruit, productive”, according to the online Māori dictionary. Tupu Angitu, the commercial… [Read More…]
Global equities see ACC underperform, over-deliver
The Accident Compensation Corporation (ACC) fund has turned in another above-budget but below-benchmark annual investment performance during the 12 months to June 30. According to the just-published 2024 ACC annual report, the now almost $50 billion fund fell short of its blended benchmark by a narrow margin for the second year in a row. The… [Read More…]