The Financial Services Council (FSC) has hit a regulation nerve with its ‘Advice Summit’ triple-city tour scheduled for next week virtually booked out. Richard Klipin, FSC chief, said the FSC to date has been swamped with over 650 sign-ups across the Auckland-Wellington-Christchurch events set down for November 28, 29, and 30, respectively. “We had about… [Read More…]
Investment News
NZX to ramp up fund sales, delays on platform, puts FundSource in data siding
The NZX plans to squeeze more value out of its $35 million funds management purchase SuperLife in 2018 including opening up third-party KiwiSaver distribution and cross-selling the traditional superannuation offering to the exchange’s “issuer base”. In its ‘Investor Day’ presentation last week, the NZX notes “go forward” initiatives next year to “cross-sell and innovatively market”… [Read More…]
Peacock returns to roost; Castle Point hires operations chief, hits $250m
Former NZAM chief investment officer, Greg Peacock, has returned to a new role at his old haunt taking up the CEO position for a just-formed Spencer family office company. It is understood Peacock would run an Australasian equities book under the banner Windhaven Securities – a new entity registered last week ultimately owned by the… [Read More…]
Australian funds follow NZ with full disclosure to Morningstar
After about 18 months of discussion with the funds management industry and the gathering of data way back to 2003, Morningstar in Australia has started to publish the details of fund portfolios. Just over half of fund managers are going along with the full disclosure. Morningstar hopes to get this up to 100 per cent…. [Read More…]
Lakeside manager gets ETF fund off the ground with Brook co-founder on board
A new Wanaka-based passive wholesale boutique fund manager, chaired by a founder of Brook Asset Management, plans to lodge a retail licence application before Christmas, according to co managing director, Thom Bentley. Bentley said EBT Capital, which invests in a range of seven global exchange-traded funds (ETFs) via a trio of portfolio investment entity (PIE)… [Read More…]
Kumar keeps some international oversight at Janus Henderson
Having relinquished his brief role as global head of fixed income for Janus Henderson Investors, Kumar Palghat has settled back into running the firm’s Australian fixed income operation, but is retaining some international business responsibilities for the merged group. The co-founder of Kapstream, the fixed income boutique subsidiary of Janus prior to that company’s merger… [Read More…]
TE hangs on to Fisher admin
Following a tense review process the $7 billion plus Fisher Funds has retained Trustee Executors (TE) for back-office duties – albeit with further wrinkles in the deal to iron out. It is understood TE – which stood to lose its biggest fund accounting and custody client after Fisher put the services out to tender earlier… [Read More…]
Pacific funds agree on joint investment action, member growth…
A newly-expanded Pacific Islands government fund organisation plans to use its enhanced collective bargaining power to strike better investment deals for members. At its eighth forum for fund CEOs held in Tuvalu late in October, the Pacific Provident Funds and Social Security Forum (PPFSSF) resolved to collaborate on direct investment opportunities as well as sourcing… [Read More…]
… as cuppa campaign sees $100m Māori fund reach the table
An idea brewing for decades came to fruition last week as a coalition of 17 groups representing over 35 Māori organisations agreed to pour some $100 million into a collective investment pot. All it took was “drinking thousands of cups of green tea”, according to Tama Potaka, New Zealand Superannuation Fund (NZS) investment hub coordinator…. [Read More…]
Domestic bliss sees more NZ share managers enter research house, as KiwiSaver products shown the door
Morningstar is extending coverage of NZ domestic equity managers while cutting a number of bank-backed KiwiSaver products from its research roster. Chris Douglas, Morningstar Asia-Pacific director manager research ratings, said the group had added Castle Point Funds and Nikko Asset Management to its list of formally-reviewed local share managers. “We’ve also added coverage of Milford’s… [Read More…]