KiwiSaver fees will continue to come under pressure as increased scale, new disclosure standards and competition from low-cost index providers bites, according to Financial Market Authority (FMA) chief, Rob Everett. In the wake of the FMA’s annual KiwiSaver report released last week, Everett said providers should be able to reduce the proportional level of fees… [Read More…]
Investment News
Governance guru takes chair at MMC
Auckland-based fund administration firm, MMC, has named governance heavy-weight James Ogden as its new independent chair. Ogden, who was head of Macquarie NZ for six years until 2002, serves as independent member on the investment committee of Pencarrow Private Equity, which took a 50 per cent stake in MMC late last year. He also currently… [Read More…]
Fidelity to swing both ways on fees
Global investment giant Fidelity International has re-engineered its active fund-pricing model with the introduction of a ‘fulcrum’ performance fee that will see clients claw back costs if the products sink below benchmark returns. Under the fee-rethink revealed last week, Fidelity, which manages close to US$400 billion worldwide including for a handful of NZ wholesale clients,… [Read More…]
Heitman rides the global real estate wave
The Heitman group, a 50-year-old real estate investment firm recently expanded its Australian and New Zealand presence with the recruitment of Beau Titchkosky as managing director in charge of working with investors to harness the growing demand for global property and alternative credit strategies. James Gruver, a Chicago-based managing director of global client service and… [Read More…]
Why NZ needs to stop executives milking shareholders
Devon Funds Management has called for NZ to follow Australia by giving shareholders greater power over executive remuneration. In a recently-published article the Auckland-based boutique firm says it is “strongly supportive of shareholders having the ability to have a say on pay as this increases the transparency of remuneration arrangements and performance targets”. “Australia introduced… [Read More…]
Low-vol and value the factors with highest carbon emissions
Although the major index providers have recognised the growing need for information about the carbon exposures of companies represented and despite the increasing popularity of factor indices for smart beta strategies, the carbon footprint of factor indices has tended to be overlooked. Recent work by S&P Dow Jones Indices has ranked the major factors by… [Read More…]
Exclusive: NZ industry survey finds ESG U-turn, AI ignition
The NZ industry has flipped its views on responsible investing in record quick-time, according to a just-released survey. In a follow-up to the inaugural 2016 report, the second BNP Paribas Securities Services/Investment News NZ (IN NZ) industry survey found almost 70 per cent of respondents would increase their focus on environmental, social and governance (ESG)… [Read More…]
RaboDirect exits funds business in deal with new direct platform
Rabobank NZ has ditched its pioneering direct-to-consumer funds management business in a deal that could see most clients transition to the recently-launched InvestNow platform. Under a move confirmed to local fund managers yesterday by RaboDirect key accounts and investments manager, Michael Courtney, clients would be offered the options of either transferring holdings to InvestNow or… [Read More…]
Pathfinder maps responsible route as new fund draws platform crowd
Takapuna-based boutique manager, Pathfinder Asset Management, has signaled a new focus on sustainable investing with the launch of a retail version of its Responsible Investment Fund (RIF) – to be rolled out via a novel start-up direct investment platform. The Global Responsibility Fund (GRF), which invests into the underlying wholesale Pathfinder RIF, is slated to… [Read More…]
NZX looks to tap into LIC trend
The NZX could see a flurry of listed investment companies (LIC) heading to the exchange under proposed new rules, according to Hamish McDonald, general counsel and head of policy. McDonald said the NZX was “keen to engage” with the market on bringing more LICs to the local bourse, which is well underweight the sector compared… [Read More…]