Investment News

Trustees Executors (TE) has appointed a former chief operations officer (COO) of Australian firm Equity Trustees to head the business. TE revealed to staff and clients today that, Ryan Bessemer, would take over from long-time incumbent, Rob Russell. As reported this morning, Russell is due to finish his 12-year tenure with the trustee and funds… [Read More…]

Trustees Executors (TE) head, Rob Russell, is to leave the business in a week capping off a tumultuous run of top-level departures at the firm. It is understood TE has already lined up a successor for Russell, who ends a 12-year career with NZ’s oldest trustee company – the last five as executive director. He… [Read More…]

The Australian financial services Royal Commission (RC) wrapped up its drama-filled fortnight-long probe into the country’s advice industry with a string of recommendations including a call for criminal charges to be lodged against main offender, AMP. AMP has taken most of the heat for misleading the Australian regulator after knowingly breaching licence conditions that prohibited… [Read More…]

Impending financial advice reforms could see NZ repeat the same mistakes currently on show in the Australian Royal Commission (RC) into banking, according to the head of an advisory group across the Tasman. Peter Mancell, head of the privately-owned FYG financial planning business, said the Financial Services Legislation Amendment Bill (FSLAB) echoed many aspects of… [Read More…]

Low demand and cut-price competition have scuppered the plans of start-up manager EBT Capital to launch a range of multi-fund index products in NZ. Thom Bentley, EBT co-managing director, said firm closed shop last month after failing to raise much interest from NZ investors in its proposed trio of exchange-traded fund (ETF) products. EBT, which… [Read More…]

Pie Funds will apply an environmental, social and governance (ESG) overlay across all its funds following the launch of a new ‘climate friendly’ product last week. Mike Taylor, Pie chief, said the “realistic” ESG policy – developed internally and with input from global research firm, Sustainalytics – would “allow us to invest sustainably for each… [Read More…]

The Accident Compensation Commission (ACC) is on the hunt for a new chief financial officer after incumbent, Mark Dossor, accepted the top job at Wellington-based Rangatira Investments, last week. Dossor replaces former Rangatira chief executive, Phil Veal, who finished a three-year stint with the $230 million investment vehicle last November. In a statement announcing his… [Read More…]

Australia is going through an interesting change, led by AIST and APRA, with respect to how it approaches due diligence on managers, particularly hedge fund managers. There is a new “plain vanilla” manager-paid option now on the table. Not everyone is happy with this. Following lots of consultations last year, AIST, with APRA’s vocal support,… [Read More…]

For the first time in almost a decade the stars are aligned for the commodities sector, according to Paul Brownsey, Pathfinder chief investment officer. Brownsey said the performance of commodities has historically been linked to economic growth and rising inflation – both factors now apparently in play. “We’re seeing synchronised global growth and signs of… [Read More…]

Australia can rightly claim to have pioneered direct property and infrastructure investing, also pioneering new investment structures, such as co-investments. But the times they are a changing. Liquid assets, due to demographic shifts, are now more important. But here’s the rub: listed infrastructure is cheaper than unlisted. According to Matthias Meyer, the head of liquid… [Read More…]