A surge in funds manager searches by institutional investors in the year to March was led by appointments in private markets, in both number of searches and the size of the mandates, according to the quarterly report from search consultant bfinance. The bfinance quarterly analysis also shows that there was a significant increase in interest… [Read More…]
Investment News
Kiwi Wealth first to wire with robo-adviser
The government-owned KiwiSaver and wealth management firm, Kiwi Wealth, will be first to market with a personalised robo-advice system in NZ after winning approval from the regulator today. Under a process switched on by the Financial Markets Authority (FMA) earlier this year, providers can apply for an exemption from the current law requiring all ‘personalised… [Read More…]
Corporate fire-fighting keeps AMP NZ sale rumours smoking
Despite delaying a decision at last week’s AGM, AMP still has its NZ arm queued for surgery. The hastily-appointed stand-in AMP chief, Mike Wilkins, told investors last week the review of the conglomerate’s ‘manage for value’ units – including NZ financial services, life insurance, and ‘legacy’ business – would “continue to progress”. However, while AMP… [Read More…]
David Murray as AMP chair: are they kidding?
Greg Bright, founder of Australian industry publication Investor Strategy News founder, puzzles over the appointment of new AMP chair, David Murray There has been lots of talk about AMP within the funds management and advisory sectors of the industry in recent weeks. Everyone, including insiders, has a story or two and has heard many… [Read More…]
Sowerby to set sail from Salt
Salt Funds Management inaugural chief operating officer, Anthony Sowerby, has resigned ahead of a move to the Middle East. Matthew Goodson, managing director of the almost $2 billion boutique funds firm, said Salt was well-advanced in finding a replacement for Sowerby. “Anthony is leaving a couple of months to move with his family to Abu… [Read More…]
JP Morgan NZ head calls it quits
Long-time JP Morgan NZ chief, Mark Lawrence, will leave the Wellington-based business within a fortnight. A JP Morgan spokesperson confirmed Lawrence had resigned the role he had held since 2009. As well as heading the JP Morgan NZ bank branch, Lawrence was primarily responsible for the firm’s custody and clearing operations. JP Morgan has a… [Read More…]
Member equity sparks Nikko buy-sell amendment
Nikko Asset Management has introduced buy-sell spreads to its just-launched KiwiSaver scheme in a tweak that will more fairly allocate costs among members. George Carter, Nikko NZ chief, said the manager has made the amendment after noting the lack of buy-spell spreads – which charge members directly for brokerage costs incurred when they enter and… [Read More…]
Super tax lurks get thumbs-down in TWG advice
Official advice has poured cold water on the prospect of further retirement savings incentives in NZ, according to background documents published by the Tax Working Group (TWG) last week. Treasury-supplied analysis says shifting to tax-preferred superannuation environment – similar to Australia – would come with a hefty fiscal cost, provide greater benefit to high-income earners… [Read More…]
Diversity reigns as INFINZ set to crown top fund managers
INFINZ has returned to index weights for its 2018 equity fund manager of the year awards to be dished out this Thursday. The familiar funds management trio of Harbour, Milford and Nikko are in the frame this week for the INFINZ equity manager of the year compared to just two – Nikko and Devon –… [Read More…]
Link ups the ante with fund solutions appointment
Link Group has signalled a major commitment to a new growth area for the firm with the recruitment of Paul Khoury to head up its investment management administration arm, Link Fund Solutions. This part of the industry is about to get very interesting. Khoury, a former chief operating officer and chief executive of Global Services… [Read More…]