The $300 million Castle Point Funds Management has replaced the global fixed income manager in its 5 Oceans Fund citing change of ownership concerns at incumbent Australian-based provider, Kapstream. In a client note, Castle Point said it would replace Kapstream Capital with another Australian-based manager, the recently-launched Daintree, and T Rowe Price for the international… [Read More…]
Investment News
Russell in consultant hunt; Nikko chairs up; Stewart Group uncorks support staff
Russell Investments is searching for a new asset consultant to be based in its Auckland office. According to advertised job description, the Russell consulting “role leads and assists in relationships with institutional clients through the production and presentation of investment advice”. Last month the Wellington-based Russell Investments head of asset consulting, Andrew Johnson, left the… [Read More…]
RIAA, Mercer get on the conference cycle
The Responsible Investment Association of Australasia (RIAA) is gearing up for an expected large turn-out to its NZ annual conference. Matthew Mimms, RIAA NZ representative, said the conference – set down for September 18 at the Hilton Hotel in Auckland – was already generating a lot of interest with its program almost finalised. Mimms said… [Read More…]
Big moves at the top of the global ESG world
Jane Ambachtsheer, an ESG expert who was born with fiduciary investor governance notions running through her veins thanks to her famous father, has left Mercer where she was a partner and chair of the responsible investing practice, to take up a similar role at BNP Paribas Asset Management. Her new job, starting at the end… [Read More…]
Big and fragile: BlackRock merger study finds fund size matters
Mega-sized fund managers could be making markets more risky than is commonly assumed, a new award-winning study has found. The research paper – authored by academics Massimo Massa, David Schumacher, Yan Wang – found that BlackRock’s US$13.5 billion purchase of Barclays Global Investors (BGI) in 2009 led to “lower stock prices, liquidity, and volatility” of… [Read More…]
Behavioural survey seeks NZ adviser input
Australasian financial advice businesses would likely follow the global trend to “behavioural coaching” as investment management becomes more commoditised, according to Pat Spenner, head of marketing for the Christchurch-based Capital Preferences. Spenner said early data from a Capital Preferences survey of the US industry suggested there was already a “general migration” of advisory business models… [Read More…]
Another European regulation for global providers to worry about
The avalanche of new regulations over all aspects of financial services in Europe – and we’re not talking about financial advisors here, we’re talking about the engine room of the financial system – is having increasingly global ramifications. A new study by DTCC attests to the latest imposts. The paper highlights the impact of securities… [Read More…]
New KiwiSaver scheme emerges from regulatory oven
The KiwiSaver universe has expanded to 32 following the launch of a new scheme managed by Pie Funds. To be officially released under the Juno brand on August 1, a name it shares with the Pie in-house magazine, the new scheme features the standard three-choice set-up of conservative, balanced and growth funds. All of the… [Read More…]
BNP wins $5bn Kiwi Wealth admin gig
Kiwi Wealth has hired BNP Paribas Securities Services (BNP) to spruce up its funds back office following a tender run by Australian consultant, Drew Vaughan. It is understood BNP beat out contenders MMC and JP Morgan to build a new back-office system – including fund administration and custody – for the $5 billion plus Kiwi… [Read More…]
Antipodes comes south bearing global PIEs
Australian-based global equities manager, Antipodes Partners, has launched a brace of portfolio investment entity (PIE) products under the aegis of NZ fund hosting firm, Implemented Investment Solutions (IIS). Antipodes, founded in 2015 by former Platinum Asset Management deputy chief investment officer, Jacob Mitchell, has packaged up two versions of its global share strategy as PIEs… [Read More…]