DTCC has published a new white paper to raise awareness of key risks and emerging threats facing the finance and investment industry and proposes actions to help address them. While the stability and resiliency of the global financial marketplace has improved significantly since the 2008 crisis, the paper published by DTCC (The Depository Trust &… [Read More…]
Investment News
Australian regulator goes after ANZ for alleged disclosure breach
ANZ is under the gun from the Australian regulator following an alleged breach of continuous disclosure rules during a 2015 capital-raising exercise. In a document lodged with the Victorian Federal Court last Friday, the Australian Securities and Investments Commission (ASIC) argues ANZ breached ASX disclosure rules after failing to declare that underwriters picked up almost… [Read More…]
Martin Currie stands firm on emerging markets
Some earnings disappointments and continued nervousness about the impact of a trade war has taken some of the shine off emerging markets in the short term but global manager Martin Currie has cautioned investors against reacting hastily to the current conditions. “We are starting to see some money being taken off the table,” according to… [Read More…]
Product and advice separate under BNZ wealth rejig
BNZ has split its wealth management division along product and advice lines, hiring an executive from parent National Australia Bank (NAB) to fill one of the new roles. Following the redesign, current BNZ head of wealth, Donna Nicolof, has been named general manager private bank and wealth advisory while Australian import, Peter Forster, takes on… [Read More…]
Trade Me punts $4m on digital distributor
The battle for digital distribution of financial services products in NZ stepped up a notch last week after Trade Me revealed it paid about $4 million for a 16 per cent stake in the start-up fund platform, Sharesies. Sharesies, which has signed up about 20,000 members who have collectively invested $20 million in mainly NZX… [Read More…]
Minister puts new life in life-cycle as FSC closes the gap
The government has put a life-cycle option on the agenda as it gears up for a review of the KiwiSaver default provider regime, Commerce Minister Kris Faafoi told a jam-packed Financial Services Council (FSC)/Workplace Savings NZ (WSNZ) conference last week. Speaking at the FSC dinner event last Thursday night, Faafoi said the government would consider… [Read More…]
Meet the new index, same as the old index
Russell Investments is switching global equities benchmark provider from its former in-house index series to MSCI. The move, to take effect from October 1, completes a full circle for the Seattle-headquartered fund manager, which benchmarked its global shares funds to an MSCI gauge until December 2010 when it adopted a Russell index. In a note… [Read More…]
Another Aussie global share specialist tips hat in NZ ring
Montgomery Global Investment Management (MGI) has joined a growing cohort of offshore managers pitching to the NZ market. In a just-inked deal with third-party funds marketing firm, The Investment Store, the Sydney-based the $500 million plus MGI is testing NZ interest for its pair of value-oriented global equity funds. Chris Demasi, MGI co-founder, said the… [Read More…]
How Ark plans to float as new tech floods the world
Listed markets rather than private equity offer the best avenue to capture the upside of disruptive technologies, according to Ark Invest founder Catherine Wood. Wood, in NZ earlier this month on a Nikko Asset Management roadshow, said venture capital could not build the necessary scale the current wave of innovative technology firms needed to succeed…. [Read More…]
ASX progresses blockchain replacement for CHESS
While pushing back its deadline a bit, the ASX has made great progress towards replacing its old CHESS transactions administration system with the new distributed ledger technology, colloquially known as ‘blockchain’. The ASX will be the first stock exchange in the world to embrace the new technology. In a paper on its website the ASX… [Read More…]