Unhedged global equities reprised its previous role as asset class of the quarter in the latest Melville Jessup Weaver (MJW) investment survey. The unhedged MSCI World index was up 7.2 per cent over the September quarter, the MJW report shows, compared to 5.5 per cent for the hedged version of the same benchmark. NZ equities… [Read More…]
Investment News
APAC fund borders to open next February
Managed funds could be flowing more freely across the Asia-Pacific (APAC) region from next February after a landmark decision last month. As of February 1 2019 fund managers based in five APAC jurisdictions, including NZ, can begin exporting approved retail products across member borders under the Asia Region Funds Passport (ARFP) regime. Last month the… [Read More…]
Firetrail douses IPO, ETFs hit ASX milestone
Market volatility has scuttled plans by Australian equities manager, Firetrail, to list a long-short fund on the ASX. Firetrail was seeking up to A$305 million from NZ and Australian investors for a listed version of the group’s Absolute Return Fund. The Firetrail fund was on offer in NZ under the trans-Tasman mutual recognition regime. In… [Read More…]
Absolute returns strategies the ‘way of the future’ in bonds
With fixed income managers predicting for some years now that the party is all-but over as rates start to rise again, a plethora of new strategies has been launched looking to provide yield through taking more and different risks or abandoning a benchmark through absolute returns strategies or – increasingly popular – a combination of… [Read More…]
Why Alphinity is putting more ‘E’ into its new ESG fund
While some big funds are increasingly creating headlines through their exclusions of so-called ‘sin stocks’, such as tobacco or fossil-fuel producers, individual investors are demanding even more action, according to Stephane Andre, one of the principals of boutique equities manager Alphinity Investment Management. He says ethical and even impact investing vehicles are being increasingly sought…. [Read More…]
Open banking, cyber-security to star at NZ fintech show
The upcoming NZ Fintech Summit will highlight open banking, customer engagement and cyber security as key industry trends, according to conference founder, Binu Paul. Paul, who launched the symposium under the Finnotec brand in 2016, has teamed up with local industry body FinTechNZ to host the 2018 event. In a release, he said while open… [Read More…]
Salt to list carbon credit fund; Punakaiki goes low in round six
The Auckland-based Salt Funds Management is to launch a unique NZX-listed product targeting the carbon credits market. In a cache of documents filed last week, Salt says the new Carbon Fund will “buy and sell carbon credits on emission trading schemes, or hold cash based on our own analysis and assessment of the market”. Initially… [Read More…]
Mercer, FNZC celebrate $50m Hawke’s Bay council win (but not with wine)
The Hawke’s Bay Regional Council (HBRC) has split a $50 million investment mandate between Mercer and FNZC. As reported last month, the HBRC was seeking a new home for funds left over from the aborted Ruataniwha Water Storage Scheme (RWSS) project in Central Hawke’s Bay. According to the HBRC statement of investment policy objectives (SIPO), the… [Read More…]
FMA report finds switchers go for growth, fees track FUM
KiwiSaver members – or at least those making active investment choices – poured into growth funds during the year to March 31, the latest Financial Markets Authority (FMA) annual report on the sector reveals. According to the FMA statistics, of the approximately $2.5 billion swapping intra-scheme funds (as opposed to moving to a new scheme)… [Read More…]
State mandate update…
In the country’s biggest single investment mandate, State Street ended the financial year with almost $8 billion under management for the NZ Superannuation Fund (NZS). The just-released NZS annual accounts show the State Street passive global equities mandate sat just $24 million shy of the $8 billion mark as at June 30, representing 20.3 per… [Read More…]