Investment News

Institutional investor understanding of the differences between strategic asset allocation (SAA) and total portfolio approach (TPA) is growing, according to the Thinking Ahead Institute’s (TAI) latest global asset owner peer study report, and SAA is “by and large losing the argument”, with more and more investors set to embrace TPA over the next few years…. [Read More…]

High-profile property developer and wholesale funds group, Du Val, has been placed into ‘interim receivership’ by the High Court following a Financial Markets Authority (FMA) action. The order applies to “Du Val Capital Partners Limited, together with a number of entities within the Du Val Group”, according to a FMA release, as well as company… [Read More…]

Apex Group NZ chief, Anthony Edmonds, is to step aside in favour of Donna Mason, who joined as head of the firm’s fund administration arm last year. Edmonds will remain in a business development role “with a focus on sales and strategic growth opportunities” for the company among a raft of other leadership and board… [Read More…]

Milford Funds has reported its best-ever revenue bonanza over the 12 months to March 31 as fee income jumped more than 70 per cent year-on-year to reach almost $270 million. The Auckland-headquartered firm booked performance fees of $83.5 million for the 12-month period after drawing a blank in this category last year while management fees… [Read More…]

Next-generation Auckland-based investment boutiques Kōura and Kernel have both reported a surge in KiwiSaver assets under management over the last 12 months on the back of financial adviser support. Kōura, for example, has seen KiwiSaver funds under management almost triple during the last year or so to reach $200 million and approximately 5,000 members: the… [Read More…]

Smartshares is looking to shore-up both its active and passive investment teams and target further growth in fund-hosting. Anna Scott, lured from Hobson Wealth to head the NZX-owned funds management business last June, said the group is recruiting for a number of investment roles across the Smartshares passive and QuayStreet active teams. Scott said Smartshares… [Read More…]

The Financial Markets Authority (FMA) has laid out more stringent client-reporting obligations for financial advisers, custodians and platforms in an updated money-handling guide. Custodial reporting issues hit the regulatory radar during the Barry Kloogh ponzi scandal in 2019 after the Dunedin-based adviser diverted platform-to-client communications to his own address. Kloogh drained more than $15 million… [Read More…]

Australia-based private equity player, Pacific Equity Partners (PEP), is set to hit the NZ market running with a version of its wholesale ‘Gateway’ strategy dressed for local tax conditions. Alex Ovchar, PEP managing director partner and client group, said the new Gateway portfolio investment entity (PIE) vehicle – hosted by Apex Group subsidiary, FundRock NZ –… [Read More…]

The NZ institutional investment and advisory markets are lining up for a rare injection of new capital as two city councils prepare wealth funds for take-off over the next couple of years. As reported last week, the Auckland City Council is seeking board members for an approved, but not yet airworthy, ‘Future Fund’ scheduled to… [Read More…]

Heathcote Investment Partners founder, Clayton Coplestone, argues the NZ advice sector must overcome historical differences to establish a unified and independent professional body…   In 2021, the Financial Markets Authority (FMA) provided a definitive count of the NZ adviser population for the first time under the new licensing regime. According to the FMA figures at… [Read More…]