Investment News

Fisher Funds founder, Carmel Fisher, has cut formal ties with the firm she started 20 years ago after resigning as director last week. Fisher, who stayed on as director after selling down her stake in NZ’s sixth-largest funds management business in 2017, has been replaced on the board by Guy Roper and Jennifer Moxon. Roper… [Read More…]

The Ministry of Business, Innovation and Employment (MBIE) has backed the ongoing use of product commissions under the just-revised Financial Services Legislation Amendment Bill (FSLAB). Among a more than 100-page document detailing its responses to submissions on the draft FSLAB, the government department knocks back a call to outlaw commissions. “A ban on commissions and… [Read More…]

The Australian financial regulator has issued a raft of recommendations for issuers in its first review of the burgeoning exchange-traded product (ETP) market across the ditch. According to the Australian Securities and Investments Commission (ASIC) report, while the ETP market (of which the exchange-traded funds, or ETF, sector is the major subset) was mostly working… [Read More…]

The US$2.5 trillion Fidelity Investments has taken the exchange-traded fund (ETF) price war to its logical conclusion by launching a pair of zero-fee options last week. In a statement Fidelity says investors in its Zero Total Market Index and Zero International Index ETFs would pay nothing “regardless of how much they invest in either fund,… [Read More…]

David Brown, a well-regarded investment manager in the private markets space – both in Australia and internationally – and currently the CIO of the ‘number two’ Papua New Guinea industry fund, was arrested last week for “fraud”. The charge was laid after his fund, the 4.6 billion kina ($A1.9 billion) “NASFUND” (National Superannuation Fund Ltd… [Read More…]

The Financial Services Council (FSC)/Workplace Savings NZ (WSNZ) has lined up Reserve Bank governor and former head of the NZ Superannuation Fund, Adrian Orr, to debate the ‘big issues’ at the industry body’s annual conference in September. Orr will join NZ Institute of Economic Research (NZIER) chief, Lawrence Kubiak, and Business NZ head, Kirk Hope… [Read More…]

A new responsible-investing focused funds management group is trying to get off the ground for launch next year. The currently anonymous entity is searching for a chief investment officer to help run the prospective environmental, social and governance (ESG)-flavoured fund. According to the job advertisement, the CIO would need a “strong profile” and connections in… [Read More…]

The private debt market is taking off as an asset class for big internationally orientated pension funds. According to bfinance, the global mandate search specialist and advisor, more than 40 private debt searches have been undertaken in the past two years, two of which were for Australian super funds. Niels Bodenheim, a London-based senior director… [Read More…]

Almost exactly a year after introduction the Financial Services Legislation Amendment Bill (FSLAB) could be up for its second reading in parliament in a fortnight after clearing the select committee phase last week. It is understood the Economic Development, Science and Innovation Committee would table a slightly revised FSLAB this week before the government pushes… [Read More…]

Pie Funds newly-launched Juno KiwiSaver scheme would not be cross-subsidised by the $800 million boutique shop’s other funds, according to chief, Mike Taylor. Taylor said the cut-price actively-managed scheme would have to be self-sustaining – eventually. “We definitely expect [the KiwiSaver scheme] to be profitable in its own right in time,” Taylor said. “Say, in… [Read More…]