Investment News

Specialist consulting firm, Mosaic Financial Services Infrastructure, has secured an Australasian first after gaining certified partner status from privacy software firm, OneTrust, under a revamped accreditation system. Caroline Carver, Mosaic privacy and AI governance director, said the accolade reflected the company’s success in implementing the OneTrust software among dozens of clients in Australia and NZ… [Read More…]

The NZ Superannuation Fund (NZS) has dropped Devon as an external local shares manager, ending a 13-year relationship with the boutique. In a statement this morning, NZS confirmed “it had terminated Devon Funds Management’s New Zealand active equities mandate”. Market sources suggest the move reflected overall capacity issues across the entire NZS local shares portfolio…. [Read More…]

Funds management continues to act as the growth engine for the NZX with the division reporting the single-largest top-line revenue result this year amid flat results in core exchange activities. September quarter operating statistics released last week show the funds arm delivered income of almost $32.5 million over the first nine months of 2024, up… [Read More…]

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…]