The Financial Markets Authority (FMA) is fishing for a team leader to bolster its freshly built investment management division. Reporting to FMA head of investment management, Nick Combs, the position involved providing “specialist regulatory and/or legal expertise focused on investment management supporting the team and the FMA’s regulation function more broadly”, according to the job… [Read More…]
Investment News
Regulator steers on climate-reporting, full-FAP plans
Fund managers and others caught under the impending climate-reporting regulations will have until 2026 before the Financial Markets Authority (FMA) moves into serious enforcement mode. In a paper published last week outlining its approach to policing the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act, the FMA plots a four-phase ramp-up of regulatory actions…. [Read More…]
Staff costs spike as govt wipes down venture fund
The government-owned venture capital outfit, NZ Growth Capital Partners (NZGCP), has cleaned-up its act following a period of instability and a structural overhaul, according to the group’s latest annual report. David Smol, recently appointed as chair, says in the report that as well as switching to a new investment mandate last year, the organisation “underwent… [Read More…]
All fees tumble again as ESG matures
Even the strong trend towards ESG investing, overlaid with heightened interest in climate-related strategies, has failed to halt the decline in funds management fees. The latest biennial study by global mandate search and research consultancy bfinance shows that fee compression has caught up with global ESG equities over the past five years, the average mandate… [Read More…]
From Goldilocks to gold: Mercer sets scenes for inflation
Mercer has urged investors to consider a wider range of inflation scenarios in portfolio design plans as price uncertainty ramps up across the world. In a new paper, the global multi-manager and consultancy firm says investors now face more complicated decisions amid confusing inflation signals. “Adding a less predictable inflation environment now increases complexity for… [Read More…]
Catching the next energy wave: Nanuk looks ahead
It’s essentially an orthodox view among fund managers that the incumbents in any industry will ‘win’ the transition to green energy. After all, they already have the infrastructure in place, stable cash flows, and, potentially, lucrative subsidies that will allow them to do just that. But it’s not that easy. However, to Tom King, chief… [Read More…]
Employer super market concentrates as ASB exits
Competition in the NZ superannuation master trust market has shrunk by a quarter in less than a month following the exit of ASB last week, leaving two passive players controlling 80 per cent of assets under management. NZX paid $25 million in cash for the $1.8 billion ASB master trust in a deal that came… [Read More…]
Seed fund blossoms into full retail for Booster
Booster has opened up its NZ venture capital limited partnership vehicle to the wider market with the launch of a new portfolio investment entity (PIE) version. As reported in May, the Booster Innovation Fund (BIF) will allow retail investors direct access to the Kiwi start-up strategy first established by the Wellington-based manager in a joint… [Read More…]
Milford takes on Australians at home and away
Milford Asset Management has pushed aside Westpac/BT to claim third spot in the NZ retail fund charts at the end of September after another bumper quarter. Mark Ryland, Milford chief, said the trans-Tasman firm reported more than $16.5 billion under management as at the end of September – most of that NZ-sourced retail money. Figures… [Read More…]
Russell survey finds more managers look inside for ESG data
Global fund managers are increasingly relying on in-house data for environmental, social and governance (ESG) purposes, according to a new Russell Investments survey. The Russell study found 55 per cent of managers now primarily use internally produced quantitative data to gain ESG insights compared to just 40 per cent in 2019. But the survey wasn’t… [Read More…]