Australian multi-affiliate shop, Apostle Funds Management, will roll out an exchange-traded fund (ETF) version of a well-established active global equities strategy. According to a release, the to-be-launched Apostle Dundas listed fund will carry a total management fee of 0.9 per cent “well below the category median” of 1.35 per cent. Karyn West, Apostle managing director,… [Read More…]
Investment News
Fintech treasure hunt tipped for ForBar
Forsyth Barr is working on a new digital solution for mass-market clients under the Trove sub-brand. Formed as a company last year, the wholly owned Forsyth Barr subsidiary, Trove, recently listed on the Financial Services Providers Register and entered the regulatory anti money-laundering reporting regime. While Forsyth Barr was unable to comment, it is understood… [Read More…]
Authorised bodies almost double as adviser licensing enters final stretch
With just six weeks to go before the Financial Services Legislation Amendment Act (FSLAA) regime goes live, transitional financial advice provider (FAP) licence numbers have tipped above 1,400, according to figures supplied to Investment News NZ. In December last year the Financial Markets Authority (FMA) confirmed it had received about 1,700 transitional licence applications. Based… [Read More…]
Mercer NZ acting CIO lands full-time role; Mint adds investment analyst; Brightlight shines on NZ hire
Interim Mercer NZ chief investment officer, Ronan McCabe, has been upgraded to permanent following a long recruitment process to replace, Philip Houghton-Brown. The Sydney-based McCabe stepped into the breach last September when Houghton-Brown departed for the head of investment solutions role at BT Funds. Post the official internal promotion, he continues to hold his previous… [Read More…]
Ark blasts through ETF atmosphere, space looms…
US-based niche thematic fund firm Ark Investment Management has jumped ahead of global giants BlackRock and State Street in exchange-traded fund (ETF) flows in the 2021 year-to-date, according to a Sovereign Wealth Fund Institute (SWFI) report. The SWFI report says Ark, which runs seven ETFs based on ‘disruptive technology’ themes, took in US$1 billion on… [Read More…]
… as Kernel shoots the moon and AI
Auckland-headquartered index fund manager, Kernel Wealth, has upped its product suite to eight, releasing two new global equities offerings that blend ‘innovation’ themes with a twist of artificial intelligence (AI). The two Kernel funds target electric vehicle and the broader ‘disruptive’ technology company sectors, respectively, using a benchmark stock selection process managed by heavyweight AI… [Read More…]
Parametric promotes from within for head research role
Parametric Portfolio Associates has promoted Whitlam Zhang to fill the research role formerly held by Raewyn Williams, who resigned late last year. He becomes manager research and strategy for Australia and New Zealand. In the role, Zhang reports to both Chris Briant, the Australia and New Zealand head of Parametric’s parent Eaton Vance, and Paul… [Read More…]
NZ third-party fund distributor to specialise in sustainable
A former Australian financial adviser has established a new third-party fund distribution business in NZ targeting the sustainable investment market. Tony Klein, head of Zanoma Investment Partners, said the business would launch with two Australia-based managers onboard – global equities specialist, Nanuk, and alternative asset firm, Artesian. Klein said Zanoma would kick off the NZ… [Read More…]
BlackRock turns up the dial on climate change
The NZ$12.3 trillion BlackRock will roll out a series of new ‘temperature-aligned’ funds and low-carbon index alternatives this year as part of an ambitious climate change corporate agenda. In a letter to clients posted last week, BlackRock says the “climate-oriented investment options” slated for release this year will include “products with explicit temperature alignment goals,… [Read More…]
Asia Pacific to lead growth in asset management ‘revolution’
Asia Pacific will lead the other major regions for growth in assets under management over the next five years, according to study by PwC. Asia Pacific growth will outpace that in Europe and North America in both best and worst-case scenarios. The study, ‘The Power to Shape the Future – Asset and Wealth Management Revolution,’… [Read More…]