The NZ Superannuation Fund (NZS) fell just shy of its reference portfolio performance for the second year in succession. In line with results reported by the Accident Compensation Corporation (ACC) fund a week earlier, the now almost $80 billion NZS ended just .024 per cent behind its reference portfolio for the 12 months to June… [Read More…]
Investment News
DIMS study puts risk, controls, assets in spotlight for first time
Discretionary Investment Management Services (DIMS) providers need to up their game on strategic asset allocation and risk controls, according to the inaugural regulatory probe into the somewhat opaque market. The Financial Markets Authority (FMA) debut public report on the sector found almost a quarter of the 49 DIMS providers had not reviewed portfolio strategic asset… [Read More…]
Vale Hamesh Sharma
Pathfinder portfolio manager, Hamesh Sharma, died suddenly last week. Following Sharma’s funeral last Thursday in Auckland, Pathfinder said in a statement: “It is with incredible sadness that today we farewelled our colleague and friend, Hamesh Sharma. Both at work and outside of work Hamesh was widely loved and his energy was uplifting. He is so… [Read More…]
Dyer stages ACC exit; Perpetual Guardian hires for wealth expansion; RIAA readies for NZ report
Paul Dyer, Accident Compensation Corporation (ACC) fund chief investment officer, signs off next year with an enviable record. After taking the reins from long-time incumbent, Nicholas Bagnall, in 2019 – firstly in an interim capacity – Dyer has seen the fund grow more than 12 per cent to top $50 billion while accruing about $1.7… [Read More…]
Outflows increase as Western investigation heats up
US-based global bond manager, Western Asset Management, has seen massive outflows in the wake of legal probes into trading practices revealed earlier this year with more exits likely as authorities circle. According to a Bloomberg report last week, the US Attorney’s Office in New York had grilled a number of other managers including Fidelity Investments… [Read More…]
T Rowe growth story turns page to insurance, EM
“Insurance,” according to a 2020 Morningstar report, “is one of life’s necessities that people grudgingly pay for, and investors usually don’t get too excited about the sector, except as an income play.” But Scott Berg, T Rowe Price portfolio manager, has flipped the traditional view of insurance as a low-growth backwater, suitable for value enthusiasts… [Read More…]
KiwiSaver innovation in a mature market: why process matters
As KiwiSaver providers navigate a maturing sector, the need to differentiate and innovate is more important than ever. But Sevaka founder, Clive Fernandes, suggests KiwiSaver firms can stand out from the pack by rethinking processes rather than product-creation in a world where investment is increasingly commodified… Traditionally, companies approach innovation with either a product… [Read More…]
Australian Ethical plunges into Charles River
Australian Ethical will use the Charles River Investment Management Solution (IMS) to automate front and middle office processes for its entire investment portfolio across risk management, trading, compliance, performance measurement and attribution, IBOR and transaction management. Owned by State Street, Charles River and its IMS are used by 325 clients globally, managing more than US$59… [Read More…]
Thorny product problems persist as asset consultants branch out
The history of pension funds has been – to roll out a cliché – a history of change. But it’s hard to deny that cliché when you consider just how much change there’s been. In the not-too-distant past, asset management wasn’t even part of the conversation, and pensions themselves were largely defined benefit, mostly funded… [Read More…]
No impact: ASB pulls the pin on positive product
ASB has shuttered its BlackRock-managed Positive Impact Fund ahead of a full wind-up next year, citing the closure of an underlying strategy and weak demand. In a statement, Adam Boyd, ASB executive general manager personal banking, said the impending shutdown next January of the BlackRock Global Impact Fund triggered the bank’s move to axe its… [Read More…]