Investment News

The sooner regulatory change comes the better, Booster founder Allan Yeo told the group’s annual conference last week. In a speech at the Wellington event, Yeo said the Financial Services Legislation Amendment Bill (FSLAB) must get “enacted ASAP”. “FSLAB is not a perfect piece of legislation, but no legislation ever is. Uncertainty and inaction is… [Read More…]

Flexible delegation powers under the coming new financial advice regime could help rejuvenate an aging adviser population, according to Angus Dale-Jones, chair of the Code Working Group (CWG). Dale-Jones said the Financial Services Legislation Amendment Bill (FSLAB) – currently wending its way through Parliament – would allow all advisory firms to take on less experienced… [Read More…]

Mercer NZ has bolstered its Auckland-based investment consulting team after hiring ex UK-based South African, Brian Kearney. Kearney comes to Mercer after more than a decade in London working for pension ‘de-risking’ firm Lucida and more latterly as institutional investment consultant for boutique business SECOR Asset Management. In a statement, Mercer head of institutional wealth,… [Read More…]

Wellington-based direct fund platform, InvestNow, has expanded its reach into the term deposit (TD) market after signing up a second bank last week. Under the deal with SBS Bank, InvestNow will grow its distribution reach to just under 20 per cent of the NZ TD market following its inaugural agreement with BNZ inked in October…. [Read More…]

It was a good theory, and a nice name, but the boutique investment universe ultimately proved a little too lonely for Constellation Capital Management founder, Amelia Wong. Wong shuttered her bespoke Auckland-based investment shop a couple of months ago after a four-year slog in the unforgiving world of wholesale funds management. Set-up in 2014 as… [Read More…]

AMP Capital has lowered the performance target for its $2 billion NZ fixed income fund ahead of a benchmark switch next year. As reported last month, AMP Capital will shift to a Bloomberg composite local fixed income index next January rather than the standard NZ government bond benchmark. Following the change, the outperformance target for… [Read More…]

Auckland-based investment consultant, Jonathan Eriksen, has been bearish for some time. And this year markets have finally matched his sentiment with several bouts of volatility spoiling the just-right Goldilocks good times investors had become accustomed to. Despite the mood-altering market moves, though, Eriksen does not expect a full-blown crash any time soon. “I don’t think… [Read More…]

The Financial Markets Authority (FMA) could be handed more direct powers to govern bank conduct in the wake a joint regulatory report released today. Following an almost nine-month probe into 11 NZ financial institutions – a collaboration between the FMA and the Reserve Bank of NZ (RBNZ) – the report calls for government to plug… [Read More…]

Investment managers looking to list funds on the NZX could see costs shrink to about 10 per cent of current levels under new rules released last week. Hamish Macdonald, NZX head of policy, said the revised listing rules offer a much simpler and cheaper path for funds to the share market than the previous regime…. [Read More…]

Salt Funds Management’s experimental carbon credits trading fund has drawn “phenomenal” interest from investors, according to the firm’s co-managing director, Paul Harrison. Harrison said whether that curiosity translated into action would be known later today when applications close for the Salt Carbon Fund – to be listed on the NZX this Thursday. “We didn’t know… [Read More…]