Investment News

Mercer has awarded a $1 billion plus cash mandate to Nikko Asset Management NZ, moving the long-held allocation from AMP Capital. It is understood the Mercer money shifted a couple of weeks ago to its new home. Cash is a low-margin but nevertheless critical asset class for institutional managers even with interest rates hovering close… [Read More…]

About 23,000 individuals now fall under the Financial Services Legislation Amendment Act (FSLAA) rules, according to the latest post-implementation official figures. The almost-final statistics show a reasonable jump in adviser numbers and FSLAA-governed entities compared to just prior to the March 15 start date for the new regime. Data supplied by the Financial Markets Authority… [Read More…]

The more than $51 billion Accident Compensation Corporation (ACC) fund pressured a third-party manager to establish a separate mandate after identifying underlying holdings that breached its ethical investment policies. Paula Rebstock, ACC chair, told the Education and Workforce parliamentary committee that the fund had experienced a couple of brief ‘technical’ ethical investment breaches. But in… [Read More…]

Russell Investments has signaled a tilt to private markets assets following a just-announced deal that has seen US-listed specialist firm, Hamilton Lane, take a US$90 million minority equity stake in the Seattle-headquartered multi-manager. In a statement, Russell said the arrangement would offer the group’s “global clients with access to Hamilton Lane’s industry-leading private markets investment… [Read More…]

New data from direct-to-consumer fund platform InvestNow shows a marked pandemic reaction in March last year followed by a swift swing back to growth assets. However, the InvestNow figures – which track monthly net fund flows – reveal the COVID-19 crisis did shift asset class sentiment for the rest of 2020 with listed property, in… [Read More…]

The Commission for Financial Capability (CFFC) will launch a new ‘national strategy’ this month developed in the wake of the COVID-19 crisis. Retirement Commissioner (RC), Jane Wrightson, told a parliamentary committee last month that the CFFC would unveil the new approach on April 16, targeting financial resilience, better stakeholder co-operation and access to ‘independent’ guidance…. [Read More…]

Shifting to sustainable practices could drive some companies to the wall, according to recent investor note from storied US-based manager MFS. Contrary to Pollyanna-ish predictions that the current trend to “corporate sustainability is the ultimate win-win” for companies, investors and the planet, the MFS note says “the reality couldn’t be further from the truth”. “Sustainability… [Read More…]

The demand for physical gold has fallen to its lowest level in 11 years, according to the World Gold Council. But what does that mean for investors? Not much, apparently. The price of gold has risen slightly in the past couple of months, despite the December quarter report on a slump in global demand. This… [Read More…]

The embattled ASX-listed AMP has confirmed chief executive Francesco De Ferrari will exit the business with ANZ deputy chief, Alexis George, to step in as replacement in the third quarter of this year. In a statement, AMP says De Ferrari would “continue to lead AMP during the interim period and ensure a smooth handover to… [Read More…]

The Ralph Stewart-founded Lifetime Retirement group has launched a new fund that offers retirees regular income but without the previous insured component. Lifetime closed its ‘variable annuity’ fund, launched in 2015, to new investment on Christmas day last year with about $137 million under management. Existing investors will be offered the option of transitioning to… [Read More…]