Robots won the day as the NZX-owned Smartshares booted up a new range of eight exchange-traded funds (ETFs) last week. Of the eight new Smartshares funds - backed by BlackRock-owned ETF factory, iShares – the robotics-themed product attracted both … [Read more...] about Investors favour robots in Smartshares iShares debut
Investment News
Admin firms brace for PIR wave, KiwiSaver income calculation
Fund administrators are poised for a huge influx of form-filling in the wake of last week’s prescribed investor rate (PIR) sweep by the Inland Revenue Department (IRD). Ryan Bessemer, Trustees Executors (TE) chief, said the IRD PIR shock, which … [Read more...] about Admin firms brace for PIR wave, KiwiSaver income calculation
Pie shift takes MMC above $50bn
MMC has cracked through $50 billion in funds under administration (FUA) after bedding down its latest client last week. Tom Reiher, MMC chief, said the transition of the almost $1 billion Pie Funds unit trust business went “incredibly well” with … [Read more...] about Pie shift takes MMC above $50bn
Locals fiddled as global industry burned, FMA chief says
NZ banks and insurers failed to pick up on clear warning signs offshore of looming ‘conduct’ risks, according to Financial Markets Authority (FMA) chief, Rob Everett. Everett told the local branch of Transparency International last week that NZ … [Read more...] about Locals fiddled as global industry burned, FMA chief says
FNZC kicked to touch, Jarden takes the field; CEFEX for Finzo; Lockyer returns
Broking house FNZC formally adopts the rugby-hued Jarden brand today following a short period under its current banner. The national group, which boasts almost 60 advisers under its wing, announced the switch to Jarden in March this year just over … [Read more...] about FNZC kicked to touch, Jarden takes the field; CEFEX for Finzo; Lockyer returns
Regulators zero in on fund liquidity risks as UK star manager freezes
Fund managers globally could face new liquidity and leverage stress tests, according to Bank of England governor, Mark Carney, as regulators delve deeper into non-bank systemic risk management. Carney issued the warning in a speech to the … [Read more...] about Regulators zero in on fund liquidity risks as UK star manager freezes
Rich takes on more admin in CIMA revamp
The CIMA Society of Australia, traditionally supported by what was known as IMCA (the Investment Management Consultants Association) has announced further changes to its structure, adopting a more corporate model for its administration and events … [Read more...] about Rich takes on more admin in CIMA revamp
Digging for data: deals mine rich information seam
The financial data rush intensified over the last few weeks with three landmark takeover deals underscoring a spike in demand for the precious analytical raw material. Last week the London Stock Exchange (LSE) was the latest to hit paydirt with … [Read more...] about Digging for data: deals mine rich information seam
Pie tipped at $100m valuation
The almost $1 billion Pie Funds is seeking up to $75 million for a 75 per cent stake in the business, according to sources familiar with the deal. Pie, which launched in 2007, tapped KPMG in May to sound out potential investors in the … [Read more...] about Pie tipped at $100m valuation
Record profit for FNZ as platform hopes grow in Australasia
Both NZ and Australia are offering renewed opportunities for investment platform business FNZ, according to founder, Adrian Durham, as the company reported a record profit in its country of origin. Durham said FNZ looking to expand on the growth … [Read more...] about Record profit for FNZ as platform hopes grow in Australasia