Investment News

Milford Asset Management is vying with Fisher Funds for bragging rights as the third-largest retail manager in the land, according to new Plan for Life (PFL) figures. The PFL second quarter NZ retail funds report shows Milford lying just $80 million shy of Fisher as at June 30 with more than $20.1 billion under management…. [Read More…]

The Ralph Stewart-founded Lifetime group has launched a new suite of four funds following client demand for regular investment options to complement the firm’s flagship retirement income product. Released at the end of October, the three risk-weighted diversified funds plus a cash option “allow us to offer a comprehensive retirement income planning service catering for… [Read More…]

Wellington-founded global financial technology group, FNZ, has restructured its debt load into a US$2.1 billion term loan, extending the previous lending maturity dates out by five to six years to November 2031. The debt financing deal completed last week has seen the business roll-up an approximately US$1.8 billion term loan and US$330 million revolving credit… [Read More…]

The NZ Superannuation Fund (NZS) has forecast total costs to reach almost $240 million including performance fees over the 12 months to June 30, 2025, according to its just-published ‘statement of performance expectations’. However, forward estimates of NZS expenses including asset- and performance-based external manager fees are notoriously difficult to land given the variables involved…. [Read More…]

The NZ Financial Services Council (FSC) has recorded a small loss over the 12 months to June 30 amid slightly increased costs and a minor drop in revenue. According to the FSC annual report released last week, the industry body racked up a deficit of almost $46,000 before tax in the financial year compared to… [Read More…]

Financial market theory and practice has come a long way since the recently deceased Harry Markowitz minted modern portfolio theory (MPT) in 1952. But after seven decades of theoretical refinements and data-led practical advances, the finance industry could now be too stuck in its ways to make real fundamental breakthroughs on a par with Markowitz,… [Read More…]

The government has confirmed that it held informal talks with the Australian sovereign wealth fund’s Board of Guardians amidst speculation its mandate could be changed to align it with the transition to net zero. At a hearing of the senate committee on public administration and finance on Tuesday night, senator Jane Hume pursued finance minister… [Read More…]

The BNZ investment arm has ended an eight-year asset consulting arrangement with Australian firm, JANA, following its rehousing to Harbour Asset Management under the FirstCape consortium. In a statement, a FirstCape spokesperson confirmed the now Harbour-managed BNZ KiwiSaver and funds division “has internalised the services provided by JANA”. “As FirstCape’s approach to asset management continues… [Read More…]

Makao Investments has hired a new consultant to join co-founders Noah Schiltknecht and John Horrell in the fast-growing business. The Rotorua-based Luke Longdill moves from a role as quality advice associate with Craigs Investment Partners to take up the new consultancy gig for Makao. Prior to his six-year stint at Craigs, Longdill, a CFA charterholder,… [Read More…]

Fund manager compliance expert collective, Boutique Investment Group (BIG), has pushed again for a longer lead-in time before funds must include carbon emissions assurance in climate reports. Last month the External Reporting Board (XRB) proposed a one-year delay to mandatory audited carbon assurance for entities captured by the climate-reporting legislation, among other relief measures. Auditing… [Read More…]