Investment News

NZ investors appear unfazed by the media squall breaking around Magellan across the Tasman, according the group’s head of distribution, Frank Casarotti. Casarotti said the reaction from NZ investors has been muted following the shock resignation of Magellan CEO, Brett Cairns, last week and revelations of personal challenges facing founder, Hamish Douglass. “We’ve had a… [Read More…]

Newbie KiwiSaver scheme, Aurora, has got off to a flying start with a first quarter haul of $40 million in sight. According to Aurora founder, Simon Rolland, the new scheme has signed on more than 1,500 members since it went live in October this year. “We’re looking at getting $40 million by Christmas,” Rolland said…. [Read More…]

Nikko Asset Management NZ has tweaked its GoalsGetter robo-advice service to accommodate transaction-only investors. George Carter, Nikko NZ chief, said the changes follow responses from clients looking to invest in funds or simply transfer to the group’s KiwiSaver scheme without first establishing personalised savings targets. “We had feedback suggesting some clients wanted to just put… [Read More…]

Investor time horizons pulled back slightly while corporate capital allocators took a much longer view during 2020, according to a new study. The analysis from institutional think-tank, Focusing Capital on the Long Term (FCLTGlobal), found investor time horizons shrank by 2.3 per cent last year as companies pushed out their expected capital return timeframes by… [Read More…]

Nasdaq-listed online global share brokerage, Interactive Brokers, has bottled environmental, social and governance (ESG) investment into a mobile app allowing feel-good fingertip-based stock-trading. In a release last week, Interactive Brokers said the new, patent-pending, IMPACT app would help “investors easily align their portfolios with their values and help shape the future they wish to see”…. [Read More…]

Investor concerns about the pandemic are fading. All eyes are now on the burgeoning threat of cyber-attacks, and what they mean for financial system stability. The Depository Trust and Clearing Corporation (DTCC) risk barometer was launched in 2013, and provides a handy insight into what’s worrying investors in any given year. And after two years… [Read More…]

BNP Paribas is to lose its head of securities services for Australia and New Zealand and State Street is losing three senior executives in unrelated developments which emerged earlier this month. David Braga, the chief executive of BNP Paribas Securities Services, Australasia, has resigned and will leave the organisation at Christmas. He is currently continuing… [Read More…]

AMP has signaled the release of a new direct platform-like option in partnership with BlackRock for NZ investors in a group strategy document published last week. According to the AMP strategic plan, the group’s NZ wealth management arm will roll out a “digital unit trust product leveraging investment in automation and [the] BlackRock partnership” during… [Read More…]

National adviser business cooperative, Wealthpoint, has slashed member costs as the group looks to build further scale in the lead-up to full licensing across the industry. Wealthpoint chief, Simon Manning, told members last week that the group would pass on more revenue to adviser businesses under revised commission terms. Manning said Wealthpoint, which serves as… [Read More…]

The NZX-owned investment platform business has popped above $10 billion in funds under administration (FUA) with an end-of-year rush of clients and market growth adding almost $3 billion to the pot in November. Figures released last Friday show NZX Wealth Technologies held about $10.8 billion at the end of November compared to $7.9 billion just… [Read More…]