Wellington-based investment house, Booster, has flagged the launch of a new fund targeting “early stage” NZ companies. The Booster Innovation Fund (BIF), slated for a June roll-out, will invest “indirectly in unlisted shares in early stage companies founded on New Zealand developed intellectual property”, according to disclosure documents. While details of the new fund remain… [Read More…]
Investment News
BNP on a roll with new domestic custody business
BNP Paribas Securities Services has put on about $140 billion of new business in the area of sub custody and clearing in Australia in the past 12 months, pushing it up the market share charts. David Braga, the managing director for Australia and New Zealand, confirmed last week (May 13) that BNP Paribas had won… [Read More…]
Scientific Beta finds ESG has zero alpha content
A new study has debunked claims environmental, social and governance (ESG) investing provides either market ‘alpha’ or downside protection in its own right. The just-published analysis by research firm Scientific Beta also suggests the recent surge of money into ESG funds could lower longer term return prospects for the strategies. According to the ‘Honey, I… [Read More…]
NZ Super declines Kiwibank sale info fishing trip on existential grounds
The NZ Superannuation Fund (NZS) has declined a request to release information on potential moves to sell its stake in Kiwi Group Holdings as the ownership lockdown period nears an end. In response to an Official Information Act (OIA) query lobbed by National Party MP, Mark Mitchell, the NZS rejected the fishing expedition on commercial… [Read More…]
Global investors push for clarity on climate and financial performance
Institutional investors are pushing companies for disclosures that clearly detail how climate-related risks impact the bottom line, according to a new global survey. The sixth annual Institutional Investor Survey carried out by specialist consultancy firm Morrow Sodali confirmed environmental, social and governance (ESG) factors are now firmly entrenched across industry practices. Almost 100 per cent… [Read More…]
Impact investing best practice benchmark
BlueMark, an impact investment verification service provider, has launched a benchmark for tracking best practices in impact management. It is designed to root out impact washing. The global benchmark allows market participants to differentiate between impact ‘leaders’ and ‘learners’, the US-based BlueMark said last week (May 11). It is based on aggregated data and insights… [Read More…]
Government dumps five defaults adds two in major overhaul
ANZ, ASB, AMP, Fisher and Mercer have all been dumped as KiwiSaver default schemes following the latest government review. In a release this morning, Finance Minister Grant Robertson, confirmed the default provider numbers would shrink to six with two new players – Smartshares and Simplicity – joining incumbents Westpac, BNZ, Booster and Kiwi Wealth –… [Read More…]
Bitcoin bonus sees NZ Funds book 24 per cent annual fee
NZ Funds notched up a more than 24 per cent annual charge for one of its products over the 12 months to March 31 as bitcoin-related investments triggered performance fees of over 17 per cent. According to the latest NZ Funds Core Growth Portfolio report, the 24.41 per cent annual charges covered the standard management… [Read More…]
Global bond shake-out at Russell; Gunning takes new job in head office tidy-up
Russell Investments has made sweeping changes to its flagship global fixed income funds in a move that almost doubles the in-house managed component. In a note to clients last week, Russell revealed it had cut three incumbent bond managers – Colchester Global Investors, Insight and Voya – from the global fixed income menu while awarding… [Read More…]
Australian shares, global bond shake-up prompts AMP Capital NZ ethical product tweaks
AMP Capital NZ has appointed Australian boutique Ausbil as underlying manager in its diversified ethical funds amid a slew of changes that will also see an active global bond product close. In disclosure documents filed last week, the manager revealed that AMP Capital Australia would wind up its ethical Australian shares product – currently part… [Read More…]