Investment News

Government has been urged to limit the impact of proposed financial institution conduct obligations on intermediaries in a raft of submissions released last week. Many of the 69 responses to two consultation documents published earlier this year on the Financial Markets (Conduct of Institutions) Amendment Bill, known colloquially as COFI, call for a light-touch approach… [Read More…]

Regulators have confirmed default KiwiSaver members due to be forcibly transferred to new providers after November 30 will likely wear the transition expenses. In a recent email sent to all 11 providers involved in the mass default reshuffle, the Ministry of Business, Innovation and Employment (MBIE) notes the government along with the Financial Markets Authority… [Read More…]

Specialist consulting firm, Mosaic Financial Services Infrastructure, has named Jigs Jamnadas in the newly created position of chief operating officer (COO). Previously COO of another Auckland technology-focused consulting firm, Red Moki, Jamnadas will bring extra operational nous to Mosaic after a period of rapid growth in the business, according to founding partner, Myles Allan. Over… [Read More…]

The regulated managed funds sector has emerged with a few wins in the just-released final Financial Markets Authority (FMA) advertising guidance. Simon Haines, chair of the Boutique Investment Group (BIG), said the FMA financial product ad guide addresses most of the major concerns flagged in the earlier draft version. Haines, also Nikko Asset Management NZ… [Read More…]

In a trend-reversing effort, a NZ investment manager offering novel exposure to bitcoin funds is planning to launch into the Australian market under the trans-Tasman Mutual Recognition (TTMR) regime. Released in its home country late in September, the Vault International Bitcoin Fund invests into the crypto-asset via four underlying funds based in Canada and the… [Read More…]

Auckland-based fund manager, Pathfinder, has released an inaugural sustainability report in a bid to raise the quality of environmental, social and governance (ESG) disclosure in NZ. John Berry, Pathfinder chief, said with the increase in ESG and sustainability labels among KiwiSaver schemes (and other investment products), clients deserve better reporting from managers to substantiate those… [Read More…]

Investor demand for climate disclosure is at an “all-time high” – and rising. But disclosure is only half the battle. It can sometimes be hard to remember that climate change action was once solely the domain of activist groups rather than those who occupy lofty board positions. As Mary Schapiro, head of the Task Force… [Read More…]

Kiwi Wealth head of wholesale and private investment, Peter Verhaart, is set to leave the group in November as the government-owned organisation tilts further to the retail market. Verhaart will formally end his five-year stint at the Wellington-based firm on November 3, according to a Kiwi Wealth spokesperson. It is understood he will take up… [Read More…]

The financial services industry could see further annual regulatory levy hikes of almost $20 million under proposals tabled last week. As outlined in a new Ministry of Business, Innovation and Employment (MBIE) consultation, the Financial Markets Authority (FMA) would require a further $18.8 million in funding by the 2025 fiscal year to manage the storm… [Read More…]

The Aon KiwiSaver scheme will add more than double the estimated assets under management set to exit Fisher Funds through the default transition process later this year, taking some sting out of the loss for the Takapuna-based manager. As reported last week, the $14.5 billion Fisher Funds purchased the Aon KiwiSaver and employer master trust… [Read More…]