Investment News

JP Morgan NZ is looking to restock its fund services team following the resignations of the division head and another senior staff member. It is understood incumbent fund services head, Lindsay Clark, resigned along with a fund accounting team leader. According to the job description, the Wellington-based head of fund services role includes responsibility “for… [Read More…]

The New Zealand Superannuation Fund (NZS) has dialed-down active risk-taking to one of its lowest points in almost a decade, according to chief investment officer, Matt Whineray. Whineray, also soon-to-be acting NZS chief executive, told the Sovereign Wealth Fund Institute (SWFI) publication last week that the almost $40 billion fund had scaled back its “active… [Read More…]

The Pathfinder Responsible Investment Fund (RIF) has slashed exposure to fossil fuel-full stocks following recommendations from the manager’s new environmental, social and governance (ESG) analyst, Rebecca Lindegger. John Berry, Pathfinder director, said the analysis by Lindegger – an environmental scientist who joined the Takapuna-headquartered boutique in February – prompted a substantial shift in the RIF… [Read More…]

Most corporate bonds are owned by institutions and most institutions are getting very aware of ESG issues. Here is where the rubber is starting to hit the road for ESG-aware bond managers. According to QIC, the big Queensland-government owned fund manager, it should be easier for ESG-aware investors to engage in the bond market than… [Read More…]

Boutique fund manager Global Merces has launched a closed-end fund for media investment opportunities, looking to raise $80-100 million over the next few months. ‘Media Ventures’ has assembled a who’s who of media to advise it. Holly Grofski, the 31-year-old founder and chief executive of Global Merces, has not only put together an interesting team… [Read More…]

The $25 billion plus ANZ Investments has lost its second senior funds management staff member to a boutique in less than a year following the departure of John Middleton last week. Middleton, head of ANZ Australian equity research since 2014, will take up a new portfolio manager position with Mint Asset Management. Last August, then… [Read More…]

Trustees Executors (TE) head of governance and oversight, Mel Hewitson, has left the business just shy of three years in the role. Rob Russell, TE executive director, said Hewitson resigned last week to focus on her external governance roles. As well as serving on the board of the almost $1.3 billion Foundation North she is… [Read More…]

Financial transaction and wealth taxes will be on the Tax Working Group (TWG) agenda, the group’s chair, Sir Michael Cullen said last week. In a speech to the New Zealand International Fiscal Association (IFA) conference in Queenstown last week, Cullen said while taxes on inheritance and the family home were off the TWG table there… [Read More…]

Blockchain could knock more than NZ$3.5 billion a year off managed fund processing costs globally, according to new research from UK-headquartered firm Calastone. In a statement, Calastone, which automates many back-office fund processes, says blockchain could further remove much of the transactional grit clogging up the system. “The forecast savings demonstrate the scale of financial… [Read More…]

Morningstar has reported a global cash profit of more than US$180 million driven by double-digit revenue growth across its licensing, asset-based and transactional business lines. The result, up about 21 per cent year-on-year, saw Morningstar’s core licensing revenue – including the group’s Data, Direct, and Advisor Workstation products – jump to $663 million compared to US$573 million in the… [Read More…]