Milford Asset Management is seeking to emulate the success of its flagship NZ Active Growth fund with a new product aimed at the Australian market. Formally launched last October, the Milford Australian Absolute Return Growth Fund – the Auckland-based manager’s first Australian-domiciled product – has already raked in over $10 million, according to co-founder and… [Read More…]
Investment News
Deloitte tips hard times for fund managers in 2018 (except for some)
The year ahead will be tough for fund managers globally a new Deloitte report argues as margin squeeze, ongoing technological disruption, regulatory pressure and consumer revolt come to a head. According to the Deloitte ‘2018 Investment Management Outlook’, the average funds management business “will likely be less profitable and have roughly the same assets under… [Read More…]
The good and bad of industry shifts: big name redundancy at Perennial
Brian Thomas, well-known Australian funds management marketer, has been let go at Perennial Value, the quality Aussie equities shop. He had been at Perennial for more than 11 years, and before that made a name for himself at Macquarie and Credit Suisse. The redundancy is another indicator of how everyone, it seems, needs to re-invent… [Read More…]
Blue bank cedes ground to ASB in retail funds battle
ANZ Investments has seen its retail fund market share slip by 0.6 per cent over the 12 months to September 30 last year despite posting double-digit growth during the period, according to the latest figures from Australian researcher Strategic Insight (SI). The SI data shows ANZ owned 28.6 per cent of the almost $90 billion… [Read More…]
AFA population stagnant as new law looms
The number of authorised financial advisers (AFAs) has remained static over the last two years, new data from the Financial Markets Authority (FMA) reveals. As at January 1 this year the FMA lists 1,861 AFAs – exactly the same figure as in February 2016, according to an Investment News NZ study (IN NZ) produced that… [Read More…]
Vontobel builds on fixed income presence
Vontobel Asset Management is building its capability to push further its fixed interest strategies in Australia and New Zealand, with the recruitment of experienced marketer Andreas Faeste, as senior relationships manager, based in Sydney. Until recently, Faeste operated as a third-party marketer in Australia, representing Voya Investment Management, and prior to that providing sales consultancy… [Read More…]
Expanding opportunities but NZ Super full for now
The local ‘expansion capital’ sector has delivered handsomely for the NZ Superannuation Fund (NZS) but no further allocations are on the immediate horizon, according to chief investment officer, Matt Whineray. Whineray said the $37.4 billion sovereign wealth fund, which has invested about $450 million in NZ expansion capital – or proven companies too small to… [Read More…]
CAPE ‘fear’: why inflation-adjusted PE ratios are important
Cyclically adjusted price/earnings ratios are not a great indicator of short-term equity market performance, but they are a good guide to longer-term behaviour, particularly corrections. And Australia is the most highly correlated of 12 major markets. According to a recent study by Research Affiliates ‘CAPE Fear: Why CAPE Naysayers are Wrong’, many factors have recently been… [Read More…]
Chamberlain to leave NZX, new funds chief named
SuperLife founder Michael Chamberlain will officially leave the NZX building as at the end of this year, the exchange operator revealed today. The announcement of Chamberlain’s exit – some three years after he and co-founder Owen Nash sold SuperLife to the NZX for $35 million – coincided with the news Hugh Stevens, has been hired… [Read More…]
Mint, Nikko pick up BNZ mandates; a dozen in frame for Whai Rawa
BNZ KiwiSaver has scheduled a makeover for its NZ equity and fixed income assets with incumbent manager, Russell Investments, set to be replaced next March. A BNZ spokesperson confirmed: “We are looking to effect some changes in our manager line-up for BNZ KiwiSaver for two asset classes in March. The implementation is in its early… [Read More…]