Aon has put its KiwiSaver and employer master trust schemes on the block, according to industry sources. It is understood Aon has circulated an investment memorandum seeking interest in the group’s two schemes, which collectively manage about $920 million split between the $730 million KiwiSaver and $190 million master trust. The move represents the first… [Read More…]
Investment News
Fisher, Milford and NZ Funds headline 2021 reporting season
The $14 billion Fisher Funds has joined fellow performance-fee-enhanced managers such as Milford Asset Management and NZ Funds in reporting bumper profits for the 12 months to March 31 this year. However, unlike Milford and NZ Funds, Fisher recorded steady annual growth in base management and performance fees rather than the supercharged results booked by… [Read More…]
BayTrust boosts bottom-line by $42m, flags carbon-neutral portfolio overhaul
The Tauranga-based BayTrust has boosted its coffers to the tune of about $42 million over the 12 months to March 31 following a marked investment performance turnaround bolstered by an increased allocation to growth assets. According to the just-released BayTrust annual report, the community trust ended the period with a record $246 million under management… [Read More…]
Pie in recruiting drive as FUM, revenue, profits spike
Dual-location boutique manager Pie Funds has embarked on a recruitment blitz following a period of rapid growth and the exit of a portfolio manager. The staff changes coincide with a slight reshuffle on the share register while new independent director, Brenden Hall, joined the Pie board at the end of July, replacing Steven Nichols. Mike… [Read More…]
MMC breaks $100bn admin barrier; Pathfinder KiwiSaver tops $100m
Auckland-based investment administration pioneer MMC has broken through the $100 billion threshold, cementing its cornerstone position in the NZ financial services industry architecture. In a release, MMC said the group hit the $100 billion funds under administration (FUA) mark last week as both its core investment services and recent wealth management platform acquisition soared over… [Read More…]
Top managers tackle timely challenges on Pinnacle Summit
Last week the ASX-listed multi-affiliate firm, Pinnacle Investment Management, gathered a selection of fund managers at the top of their game for its annual Investment Summit – this year in online-only format – as this Partner Content summary reveals… The all-day affair involved 10 of the Pinnacle managers – including several that operate in… [Read More…]
Milford chair one of two new ACC directors; Mint exec pops up on Aurora board; Schroders APAC co-head resigns; Morningstar lures advice-tech head from Midwinter
Milford Asset Management chair, Mark Cross, has been named to Accident Compensation Corporation (ACC) board along with energy specialist, David Hunt. Cross, a professional director for over 10 years, has chaired the Milford board since 2013 among other governance roles after an executive career that dates back to a corporate adviser role at the seminal… [Read More…]
Global funds double domestic exposures in pandemic
Big sovereign and public sector funds globally have skewed their investments to their domestic markets since the outbreak of covid-19, according to a report by Global SWF. However, the two Australasian sovereign funds, Future Fund and New Zealand Superannuation Fund, have stayed the course with their investment strategies, according to spokespeople for those organisations. The… [Read More…]
FSC locks-in conference keynotes with regulation, politics centre-stage
The Financial Services Council (FSC) has nailed down the main program for its 2021 annual conference, designed to hammer out the key political and regulatory issues of the times. Last week the FSC revealed the final main-stage events to be headlined by Finance Minister Grant Robertson on the opening morning as opposition MPs Andrew Bayly… [Read More…]
FMA goes to town on unlicensed activity…
The Financial Markets Authority (FMA) moved into overdrive in July with four significant regulatory scalps along with heads-up warnings on general insurance and cyber-resilience. In busy end-of-month schedule, the regulator last week claimed a win in the Auckland High Court against life insurer AIA (fined $700,000) while issuing what could be the final public-shaming notice… [Read More…]