Investment News

Market index reporting requirements for off-beat funds could be amended further under mooted changes to the Financial Market Conducts Act (FMC). In a guidance note detailing compliance with the FMC market index exemption for licensed managed investment schemes (MIS), which came into force last week, the Financial Markets Authority (FMA) says it has referred more… [Read More…]

The recent Financial Markets Authority (FMA) investigation into life insurance sales practices of 11 groups has highlighted the need for better consumer data, a leading industry consultant says. In an analysis of the just-published FMA report, Russell Hutchinson, director of insurance specialist firm Chatswood Consulting, says that quantifying “how much [consumer harm from poor sales… [Read More…]

NZ investors with the right mix of NZ milk stocks, unhedged global equities and a dash of bonds would’ve experienced a stellar June quarter – especially if they also avoided exposure to under-fire insurer, CBL, the latest Melville Jessup Weaver (MJW) quarterly investment survey shows. According to the MJW report, diversified portfolios were “likely to… [Read More…]

Auckland-headquartered fund administration firm, MMC, has completed the transition of Milford Asset Management’s unit registry from previous provider, Trustees Executors. In a statement, Milford head of products and operations, Mark Ryland, said the firm consolidated its back-office services under MMC to drive efficiencies and underpin the manager’s integrated “investor portal”. “Milford has a vision of… [Read More…]

Wellington-originated FNZ, has added almost 13 per cent to group funds under administration with the purchase of German investment platform firm, ebase. In a statement last week, the Edinburgh-headquartered FNZ said it had struck a deal to buy the ebase platform from the German Comdirect bank for an undisclosed sum. The FNZ Group, which includes… [Read More…]

State Street has acquired Charles River, a global investment information provider which has a modest Australian presence. The deal is worth US$2.6 billion, State Street announced over the weekend. Charles River (the actual Charles river, by the way, flows through the city of Boston, home of State Street) will enable State Street to expand its… [Read More…]

ESG investing, one of the major thematics of the last few years and, no doubt, the next many years, is not just about equity investing. Fixed income is becoming increasingly ESG focused. Insight Investment tells how it is going about the new wave of ESG oversight. Bruce Murphy, director, Australia and New Zealand, at Insight… [Read More…]

Chris Douglas, the widely-respected Morningstar head of manager research Asia-Pacific, is to leave the firm after 12 years. Douglas, who served in various roles with the research house including a two-year stint at the firm’s Chicago HQ, will join the Auckland-based MyFiduciary as a principal in September. “I’m leaving Morningstar on very good terms,” he… [Read More…]

AMP Capital has closed it NZ listed property fund citing flagging demand and rising proportionate in-product costs. Launched in 2009, the actively-managed AMP Capital Listed Property Securities Fund has dwindled to just under $9 million under management spread across about a dozen clients – including a few platforms that house underlying retail investors. Grant Hassell,… [Read More…]

The NZ Superannuation Fund (NZS) is searching for a new head of investment operations. In a recently-placed job advert, NZS said the role includes leading a “team of fourteen, via three direct reports, that manages the administration of the Fund’s portfolio through controls and oversight at the total portfolio level, NAV [net asset value] reporting”…. [Read More…]