The Auckland Future Fund (AFF) has secured three NZ investment industry stalwarts for its start-up board as the city’s local government prepares to launch the $1.3 billion vehicle. Elevation Capital founder, Christopher Swasbrook, will chair the AFF board due to be established this month with Craig Stobo and David Callanan also named as directors. Last… [Read More…]
Investment News
BIG calls for cool approach to fund climate-report disclosures
The Boutique Investment Group (BIG) has called for restraint on proposed extra climate-reporting duties tabled by the regulator earlier this year. Under the guidelines published by the Financial Markets Authority (FMA) in July, fund managers (and some other entities) subject to climate-disclosure obligations would be required to reference those reports in other compliance documents. In… [Read More…]
NZ funds sector creeps up to $300bn
The NZ managed funds market edged closer to the $300 billion level in the June quarter, topping off 18 months of solid year-on-year growth. New data from the Reserve Bank of NZ (RBNZ) shows the local funds sector – excluding government vehicles – grew 5 per cent over the three months to June 30 to… [Read More…]
FMA gets serious on ESG, plays with AI
Regulatory pressure has seen some NZ fund managers abandon marketing campaigns featuring ethical subject matter amid a tighter focus on ‘integrated’ investment products by the Financial Markets Authority (FMA). In a summary of observed ethical (and related) investment practices published last week, the FMA notes some advertising materials talking up such strategies did not match… [Read More…]
Value-of-advice shines again in Russell NZ report
Russell Investments has repriced the value of financial advice in 2024 at 4.7 per cent in its fourth annual review of the NZ market. The Russell gauge fell from almost 6 per cent last year but the somewhat notional figure still highlights how financial advice adds value for clients well above fee levels. In a… [Read More…]
NZ Super gets top marks, but room for improvement in WTW review
The New Zealand Superannuation Fund (NZS) “stands out among global peers”, according to WTW, but should consider insourcing its private markets investments and establishing an overseas presence to improve access to deals and talent. Under the review, carried out by WTW, the NZS achieved “excellent” ratings across its business, governance, people and investment models, and… [Read More…]
Pension funds rebound but see 3D challenges ahead
Global pension funds returned to growth mode in 2023 following sharp losses the previous year but participants will need to update investment models amid more complex systemic challenges, a new survey of the sector has found. The latest Thinking Ahead Institute (TAI) annual study of the 300 largest pension funds across the world shows assets… [Read More…]
Finding alpha: how AI will make quants quick
Machine-learning and artificial intelligence (AI) techniques are poised to make investment ‘alpha’ easier to find but quicker to disappear, according to a new Robeco paper. The think-piece authored by Robeco head of next gen research, Mike Chen, says a step-change in technology will increase the ability of quantitative-based investors to identify sources of outperformance in… [Read More…]
Greg Bright: legend, friend
Australian financial services industry publishing legend and good friend of Investment News NZ, Greg Bright, died last week after an accident. Greg almost single-handedly invented the financial trade journalism genre in Australia with an extensive back catalogue dating back to Super Review, the still in-service title covering the superannuation sector across the Tasman. In launching… [Read More…]
FNZ founder moves to board role; BNZ investments chief exits
Adrian Durham has quit as chief of FNZ to take on a governance role at the company he founded in Wellington more than 20 years ago. Durham remains as FNZ non-executive founding director and senior adviser during a leadership change that coincided with a further US$1 billion capital injection from shareholders. He makes way for… [Read More…]