JBWere investment stalwart, Bernard Doyle, is set to leave the firm after serving almost 23 years with the National Australia Bank-owned wealth management group. It is understood Doyle is jumping to rival share-broker house, Forsyth Barr, to take up a similar role. Officially NZ investment strategist for JBWere, the highly-respected Doyle joined the firm in… [Read More…]
Investment News
Craigs deal to kick off NZX platform consolidation
NZX Wealth Technologies (NWT) plans to migrate all existing funds under administration (FUA) to the newly-launched platform built to house Craigs Investment Partners. After successfully debuting almost $1 billion of Craigs money on the new platform last week, NWT would double the FUA by consolidating all clients under the one roof. The legacy NWT platform,… [Read More…]
Growth prompts Clarity search for CIO; Milford hires Aussie distribution head
Clarity Funds Management, part of the Investment Services Group (ISG) stable, is hunting for a chief investment officer (CIO) to lead its Takapuna-based team. The joint CIO/portfolio manager role “will be the first investment hire into Clarity specifically”, according to ISG chief, Richard O’Brien. Currently, Clarity’s investment strategy is managed by Alan Lee and Andrew… [Read More…]
Incentive directive: why banks have the income to improve outcomes
Banks should be able to absorb the extra costs of more rigorous, long-term monitoring of product outcomes for clients, according to Liam Mason, Financial Market Authority (FMA). Banks would likely have to implement more intensive oversight of both point-of-sale practices and long-term product suitability checks in the wake of the FMA’s ‘Bank incentive structures’ report… [Read More…]
Morningstar sounds death knell for single-use robos
Resistance wasn’t futile: the first wave of disruptive robo-advisers has failed to breach the status quo, a recent Morningstar analysis has confirmed. The Morningstar report found established financial services firms have usurped the robo-revolution leaving start-ups either on the back-foot or in the back-pocket of the enemy. According to the study, Morningstar’s 2015 “dire assessment… [Read More…]
Wells Fargo building out its international business
Wells Fargo Asset Management, the San Francisco-based fund manager, has been growing its international business at a fair clip of late. Non-US-sourced funds under management have reached US$36 billion, or about 8 per cent of the total, after a 22 per cent annual growth rate in what are generally seen as difficult times. According to… [Read More…]
Money on a mission: why mega asset owners must front-up
Big money must start throwing its weight around, responsibly, the Thinking Ahead Institute (TAI) says in a new report. TAI, the think-tank unit of global consultancy firm Willis Towers Watson (WTW), says the top 100 asset owners earmarked in the study represent “the most influential capital on the planet” with wide discretion to invest and… [Read More…]
For quants the race is getting shorter and the world more complex
The world of quantitative investing is changing. A lot has been written about the integration of quant techniques with fundamental research. But it’s more than that. As George Mussalli says: “The race in the quant world is getting shorter and shorter.” Mussalli is the CIO and head of research for Boston-based global manager PanAgora Asset… [Read More…]
Thinking of others to the end: vale Paul Costello
Paul Costello, the founding chief executive of the Future Fund, the founding chief executive of NZ Super and the second-last chief executive of STA before its merger to form AustralianSuper, died at 8.50am last Monday, November 5. He didn’t want to talk much about his career in the months before his death. He mainly wanted… [Read More…]
NZ outshines world in Insight’s new ESG model
NZ was rated the best-performing country in a new global sustainability model released today by the BNY Mellon funds management arm, Insight Investments. The Insight Investment research dissects the risks for sovereign debt investors in186 countries based on a broad variety of environmental, social and governance (ESG) factors. “New Zealand boasts robust institutions and governance,… [Read More…]