Sir Michael Cullen outguns Winston Peters in the impending duel over KiwiSaver reforms, according to Milford Asset Management founder, Brian Gaynor. Both political veterans have re-entered the KiwiSaver fray post-election – Cullen, tangentially, as head of the tax working group, and Peters, directly, as champion of a government-run scheme – but the former is the… [Read More…]
Investment News
$130b up for grabs as hostilities are resumed in custody
Two big securities servicing tenders, totalling about $130 billion, are likely to be undertaken in the first quarter of the new year, marking an end to the relative calm of the past year. One of them, for BT Investment Management, could be particularly complicated. Suncorp, with insurance assets of an estimated $30 billion will probably… [Read More…]
NZX guide to fuel ESG acceleration
NZ listed companies must respond to the global investor demand for better environmental, social and governance (ESG) reporting, according to NZX head of policy, Hamish Macdonald. Macdonald said NZ corporates need to come “up to speed” in ESG disclosure, which is increasingly seen as standard practice in other jurisdictions. “A few of NZ’s largest companies… [Read More…]
MIFID II to ‘decimate’ brokers’ equity research
After studying the ramifications of the upcoming MIFID II regulations and having moved through the consequent five stages of grief commonly studied by psychologists Eddie Perkin, the chief equity investment officer at Eaton Vance, says he has reached a new stage: “fascination”. In a research note for clients Perkin says: “I am eager to observe… [Read More…]
Do-up for Disclose, consumer extension set for late 2018
The notoriously clunky Disclose website is getting a face-lift in the new year to bring it into line with other NZ Companies Office (NZCO) websites. Disclose would share the same look as the recently-refurbished NZCO suite of 23 database front-ends that include registers of companies, financial services providers, charitable trusts, unions as well as legacy… [Read More…]
View from the platform: top performers of 2017
Platforms have historically been top-performing items on Investment News NZ (IN NZ): and in this case, at least, past performance has been a reliable indicator of future returns with the subject cropping up in 40 per cent of the 10 most popular stories of 2017. In fact, even the presence of a legendary All Black… [Read More…]
Government takes on ‘exorbitant, unethical’ KiwiSaver providers with working group legislation
Winston Peters’ dream of a government-run KiwiSaver scheme has taken a step closer to reality with new legislation tabled yesterday to set up an “independent working group” to investigate the concept. Drawn from the members bill ballot, the KiwiFund Bill – if passed – would establish a working group composed of “4-5 specialists across the… [Read More…]
BayTrust investment adviser to be confirmed for Xmas
The $205 million Tauranga-based BayTrust is in the final phases of reviewing its investment adviser with a decision expected before year-end, according to chief executive, Alastair Rhodes. Rhodes said the trust should confirm an appointment this side of Christmas barring unforeseen delays. It is understood the candidate list had been whittled down to two, including… [Read More…]
What a Blockchain-enabled ASX means for investors…
When Dominic Stevens, ASX managing director and CEO said: “this is an exciting day”, to analysts and journalists last Thursday, he wasn’t kidding. The ASX had effectively announced that it would become the first stock exchange in the world to use distributed ledger technology for messaging and backoffice transactions. The ramifications for fund managers, their… [Read More…]
… as Calastone becomes first to migrate for managed funds
Global funds transaction network Calastone – the largest messaging system provider of its type – will be migrating its technology onto a full blockchain-enabled infrastructure. The Calastone network connects more than 1,300 financial service organisations across 34 global markets processing over A$142 billion of trades and seven million messages each month. Calastone believes it will… [Read More…]