Russell Investments NZ has hired Brett Moffat to fill a vacant consultant spot in the Auckland office. Moffat joins Russell from Marsh (sister firm of Mercer) where he was NZ head of private equity and M&A services since April this year. Previously, he served in a similar role for Marsh Korea for over four years…. [Read More…]
Investment News
Year-to-date global ETF flows rush past 2020 total
The global exchange-traded fund (ETF) market closed in on US$10 trillion in assets under management during August as year-to-date net flows tipped above the total for the whole of 2020. According to data released last week by researcher ETFGI, net flows into ETFs (including exchange-traded products – or ETPs) over 2021 to the end of… [Read More…]
FMA mulls no-action again in delta times
The Financial Markets Authority (FMA) could reprise its 2020 COVID-related regulator reporting relief measures if the recent delta wave rolls on. In a note issued last week, the FMA said while regulated entities affected by the new lockdowns could seek ‘no action’ relief on a case-by-case basis it “may also grant class exemptions as a… [Read More…]
Halifax investors offered class action front seat as Category 1 legal storm looms
Disgruntled investors in the collapsed Australasian broking firm Halifax Investment Services have until December 10 at the latest to sign up as “active members” of a funded class action appeal. Under a product disclosure statement lodged in NZ last week, litigation fund Omni Bridgeway Investment Management (OBIML) urge any so-called ‘category 1’ Halifax clients on… [Read More…]
Responsible investing on track to become New Zealand’s new normal
Nicolette Boele, Responsible Investment Association Australasia (RIAA) executive policy and standards outlines how far responsible investing in NZ has come over the last two decades, where it is now and what’s next… Just 20 years ago, ethical investing was almost unheard of in New Zealand. Today, however, as more people become savvy investors, COVID-19… [Read More…]
Advisers keep fee power despite charge of the robos, platforms
Advice is bucking the general fee compression trend in financial services with professional planners still maintaining pricing power, according to a new US study. The Investments & Wealth Institute (IWI) study found average financial advice fees increased across most tiers over 2018 to 2020 regardless of the charging model. “Overall, we do not see much… [Read More…]
BNP the first global custodian for NZX clearing
BNP Paribas Securities Services is to extend its capability in New Zealand to include stock market clearing services, the first global custodian to do so. The global custodian, which has had a big presence in the NZ institutional market for many years, has to date had almost no demand for such a service, with local… [Read More…]
Wealth management move for bfinance
The global fund-manager search and research consultant, bfinance, is moving into the wholesale wealth management sector, having completed its first global survey in the space. The survey of 120 wealth managers, including about 10 from Australia, shows a pattern of trends which are similar to those in the institutional market where bfinance has focused its… [Read More…]
FSC keeps live event alive with split-screen decision
The Financial Services Council (FSC) has reset the clock on its delta-interrupted annual conference with a dialed-down physical event lined-up in for early December. In a note to members last week, the FSC said the live event (originally due to take place over September 22-23) had been rebooked for December 6-7 at the same Auckland… [Read More…]
KiwiSaver Year 14 unmasked: FREE report opens up on scheme trends
The numbers are in. KiwiSaver moved up another level during the 12 months to the end of March 2021 with strong growth in funds under management (FUM) adding some $20 billion to the collective savings pot. According to the just-released Investment News NZ KiwiSaver annual report – the 14th in the series – the 12-month… [Read More…]