Investment News

The US robo-advice industry has sustained good health through the coronavirus emergency following a blockbuster 2019, a just-released research report shows. In line with other direct-to-consumer investing platforms, the top US robo-advice providers thrived as the pandemic rolled on, according to the Backend Benchmarking study. “While the COVID-19 crisis sparked a period of historic market… [Read More…]

It is clear that COVID-19 will have a lasting impact on the way that all businesses, including funds management and wealth management, will operate beyond when, hopefully soon, the pandemic has abated. One of the impacts will be to accelerate the use of digital services. A new white paper, by digital player Infosys, has outlined… [Read More…]

Global institutional investors are increasingly looking for a sustainable seasoning in smart beta portfolios, according to a new study by index provider FTSE Russell. The FTSE Russell annual survey of about 140 asset owners across the world found about 60 per cent of respondents who already used, or were considering, smart beta strategies planned to… [Read More…]

AMP Wealth Management NZ has put its circa $9 billion investment portfolio up for review with a shift to passive strategies one option on the table. An AMP spokesperson confirmed the underlying investments of both its KiwiSaver and superannuation master trust were under the spotlight. “To ensure the investments we offer through our AMP KiwiSaver… [Read More…]

The conduct of financial institutions (COFI) legislation has emerged largely intact from the select committee process but with some small wins for the local industry. Most notably, the select committee COFI report, handed down last Friday, added an extra year to the proposed transition period. “We believe that a maximum transition period of two years… [Read More…]

Pie Funds has seen its profits slide by about $2.3 million year-on-year after ditching performance fees. The latest Pie annual accounts show the boutique manager carved out an after-tax profit of about $643,000 on revenue of more than $15 million over the 12 months to March 31. In the previous annual period Pie booked an… [Read More…]

MMC has hired Jacky Hollingsworth as its inaugural chief financial officer (CFO). Due to start at the Auckland-based investment administration firm in October, Hollingsworth is currently CFO for Auckland Tourism, Events & Economic Development. Previously, she has held a number of senior financial roles including general manager finance for Vocus NZ and CFO at McDonald’s… [Read More…]

FNZ could be forced to sell down the recently acquired Australian software firm, GBST, by November 19 after the takeover was deemed anti-competitive by a UK regulator. In a decision handed down last week, the Competition and Markets Authority (CMA) ruled the $260 million plus deal – cemented in July 2019 – would create “a… [Read More…]

BNZ was the only retail fund manager to come through the March quarter with positive numbers, the latest Plan for Life (PFL) NZ market survey shows. According to the PFL quarterly review of NZ retail funds, BNZ recorded 0.4 per cent growth in the three months ending March 31 – over 6 per cent ahead… [Read More…]

The Netherlands, Denmark, and Australia were ranked as the top three pension systems by country, according to a report from Visual Capitalist analytics company. New Zealand, despite having little in the way of compulsory savings, came in at 8th in the world. Rounding out the top 10, in order, were: Finland, Sweden, Norway, Singapore, New… [Read More…]