Investment News

Indexers will overtake their active peers within 10 years, according to new research by consultancy firm EY, with exchange-traded funds (ETFs) set to reap the greatest rewards. EY projects passive funds will grow global market share from the current 24 per cent to 31 per cent by 2020, ratcheting up to “exceed active funds by… [Read More…]

The country’s biggest KiwiSaver provider, the $11 billion plus ANZ, has given members some pre-Christmas fee relief after knocking 2-3 basis points (bps) off the sticker price across all underlying funds. Following the cuts, ANZ KiwiSaver scheme fees range from 0.42 per cent for the cash option to 1.11 per cent for the growth fund… [Read More…]

The NZ Superannuation Fund (NZS) has gone for an in-house promotion to replace the recently-resigned head of external investments and partnerships, Fiona Mackenzie. In a release last week the NZS confirmed Mackenzie’s understudy, Del Hart, in the position first advertised in October. Hart will be responsible for NZS “investment mandates with approximately 30 external managers,… [Read More…]

Global hedge fund assets have soared by more almost a quarter over the last two years to hit US$3.2 trillion, according to research published last week by the über financial regulator body. The International Organization of Securities Commissions (IOSCO) biennial hedge fund report says the stellar growth in the sector assets under management – probably… [Read More…]

The announcement last week of a royal commission into banking was not so much of a surprise. We all thought Malcolm would crumble. But the inclusion of super funds and insurance companies in the inquiry definitely was a surprise. For a well-reasoned discussion check out Cuffelinks: https://cuffelinks.com.au/royal-commission-given-massive-task/ Graham Hand, the editor and co-owner of Cuffelinks,… [Read More…]

The credit market is going through interesting times. For investors who are seeking higher yields by going out the risk curve, this is dangerous territory. Even the credit specialists, like Cheyne Capital, say investors need to be wary about the likely volatility ahead. Anthony Robertson, the CIO of strategic value credit at Cheyne Capital, based… [Read More…]

The underpinnings of the $45 billion KiwiSaver regime would almost certainly be scrutinised by the just-announced Tax Working Group (TWG), according to its chair, Sir Michael Cullen. Cullen, who as the last Labour Finance Minister introduced KiwiSaver in 2007, said both the portfolio investment entity (PIE) and fair dividend rate (FDR) tax rules designed to… [Read More…]

Index-based fund provider, Simplicity, is listing its range of passive products on investment platforms in a bid to woo philosophically-aligned financial advisers. Sam Stubbs, Simplicity founder, said the group, which is verging on $300 million under management across 10,000 members, had struck deals with the ASB-owned Aegis and FNZ investment platforms to list its KiwiSaver… [Read More…]

Pinnacle Investment Management, a multi-affiliate manager and incubator, is fostering a new boutique focusing on a concentrated Aussie equities strategy. Some of Macquarie Investment Management’s star portfolio managers will lead the new firm from early next year. Following the success of its launch of the Antipodes Partners take-out from Platinum Asset Management last year, and… [Read More…]

Geoff Lloyd, the managing director of Perpetual Trustees, announced last Monday he would leave the firm next year. That was a shock. Then, on Friday, Amanda Gillespie, the chief executive of research firm Lonsec, announced she would join Perpetual in a new role. What’s going on? Lloyd will have racked up about eight years at… [Read More…]