The fast-growing Auckland fund administration business, MMC, has hired a new chief executive officer amid a senior level restructure that will see a co-founder step down from day-to-day duties. Under the staff changes revealed to clients last … [Read more...] about MMC reshuffles management as new CEO climbs aboard
Investment News
NZ-linked private equity pair hover over AMP
A flock of US private equity firms is circling the AMP NZ wealth unit including two businesses with strong local links, Australian press reported last month. According to The Australian, both TA Associates and Blackstone are likely bidders for the … [Read more...] about NZ-linked private equity pair hover over AMP
Transition ignition as 20 plus advice firms file for licence
The Financial Markets Authority (FMA) ticked off more than 20 applications in week one of the advice transitional licensing process. According to a FMA spokesperson, as at last Friday the regulator had received 23 applications for financial advice … [Read more...] about Transition ignition as 20 plus advice firms file for licence
First mortgage pool tops out at $45m for Simplicity
Simplicity would be able to divert a maximum of about $45 million of KiwiSaver and investment funds to a planned new home loan program based on its recently-released asset allocation model. According to the Simplicity website, the manager will … [Read more...] about First mortgage pool tops out at $45m for Simplicity
Low-rate worries, ESG-anxiety fuel active debate on Fisher tour
Fisher Funds hauled in a total crowd of more than 2,000 punters during its November national tour: a good catch by NZ measures. But the impressive turn-out for a fund manager slide-show may have been underwritten by fear rather than … [Read more...] about Low-rate worries, ESG-anxiety fuel active debate on Fisher tour
UK regulator pauses FNZ merger with Australian software business
FNZ’s A$260 million takeover of rival financial software firm GBST has hit a snag as the UK competition watchdog investigates the tie-up. The Edinburgh-headquartered FNZ purchased the ASX-listed GBST in July following a sinking-lid bidding process … [Read more...] about UK regulator pauses FNZ merger with Australian software business
RBC exits Australian custody, with grace, in Citi deal
RBC Investor & Treasury Services is to end its 18-year involvement in the Australian asset servicing market, having reached a memorandum of understanding with Citi Australia to allow for the novation of its fund manager clients. Several big RBC … [Read more...] about RBC exits Australian custody, with grace, in Citi deal
Passive and property love affair blossoms on direct fund platform
The drift to index funds continued apace among self-directed retail investors, new data from InvestNow has revealed. During the six months ending September 30, the proportion of self-described passive-only investors on the direct-to-consumer … [Read more...] about Passive and property love affair blossoms on direct fund platform
Findex seeds Aussie/NZ trust for MFS with A$130m
MFS Investment Management has launched an Australian-domiciled trust for the wholesale (planners) and institutional markets called the ‘Global Opportunistic Fixed Income Trust’. The new fund came about because of requests from its first big client, … [Read more...] about Findex seeds Aussie/NZ trust for MFS with A$130m
Government pressures ACC fund to divest fossil fuel holdings
The NZ government could force the Accident Compensation Corporation (ACC) fund to sell down $1 billion of fossil fuel-related investments, a parliamentary committee concluded last week. In a thinly-veiled threat, the Education and Workforce … [Read more...] about Government pressures ACC fund to divest fossil fuel holdings