The Rātā Foundation, previously known as the Canterbury Community Trust, has grown assets under management to almost $600 million over the latest financial year, according to its latest annual report. Rātā, which invests via a Mercer fund-of-funds (comprising 19 underlying managers), reported assets under management of $585 million as at the end of March, up… [Read More…]
Investment News
Smartshares strikes again on fees, leaves Aussie mids as outlier
The NZX-owned exchange-traded fund (ETF) operator, Smartshares, slashed fees by 15 basis points (bps) off its local equities mid-cap product last week, leaving just one in the 23-strong range costing above 0.6 per cent. After cutting the NZ Mid Cap ETF (trading under the MDZ code – known colloquially as MIDZ) fees to 0.6 per… [Read More…]
Co-investment on sovereign funds agenda
Global government-owned funds will increasingly look to buddy-up on investment deals, according to New Zealand Superannuation Fund (NZS) chief, Adrian Orr. Speaking at the International Forum of Sovereign Wealth Funds (IFSWF) ninth annual conference in the Kazakhstan capital of Astana last week, Orr said as “it makes sense to for like-minded peers with aligned interest… [Read More…]
India Avenue opens pathway for NZ investors
A start-up Australian-based specialist India investment fund is tapping the NZ market for interest as the sub-continental economic growth story gathers pace. In New Zealand last week, Mugunthan Siva, managing director of Sydney-headquartered India Avenue Investment Management, said the firm’s Indian equity fund had just been listed on the Aegis platform with FNZ and the… [Read More…]
Why cap-weighted v smart beta is not a battle of equals
Traditional capitalisation-weighted US stock indices have out-performed ‘smart beta’ varieties over the short- to medium-term, according to a new report by index provider FTSE Russell, but trail over longer periods. The FTSE Russell study says over the 15 years to the end of May 2017, fundamental and equal-weighted versions of the US Russell 1000 index… [Read More…]
Corporate loans an opportunity as adequacy rules bite
Institutional investment opportunities are poised to open up in the Australasian corporate loan business as new capital adequacy rules encourage banks to de-risk, according to Daniel Blizzard, head of Australian-based asset financier Alleasing. On a recent visit to NZ, Blizzard said regulatory authorities on both sides of the Tasman would enforce tighter capital adequacy standards… [Read More…]
Labour, National agree on KiwiSaver freedom
KiwiSaver compulsion – soft or otherwise – appears to be off the mainstream agenda in the latest political cycle with both major parties downplaying the prospect of any substantial changes to the savings regime. Incumbent Finance Minister, Steven Joyce, told the 300-plus crowd at the joint Financial Services Council (FSC)/Workplace Savings NZ (WSNZ) conference in… [Read More…]
Barnes tipped to seek $20m from Aussie ex fiancée
The Andrew Barnes-owned Bath Street Capital (BSC) is seeking about $20 million in damages from the Australian group that left it at the altar after making a reported $200 million marriage proposal, according to industry sources. In June Sargon Capital, which owns Australian firm Trustee Partners, abandoned its bid for BSC-owned Complectus just as final… [Read More…]
MJW secures Mercer pair for new Auckland admin base
Melville Jessup Weaver (MJW) has snared two senior Mercer staff to front a new permanent Auckland base for its growing scheme administration business. Steve Grant, MJW principal and head of superannuation administration, said the two experienced ex Mercer staff would bolster the firm’s further expansion in the sector, especially in the defined benefit (DB) scheme… [Read More…]
Smaller super: post FMC scheme shrinkage expected
The New Zealand workplace savings market looks set for further consolidation as the costs of regulation finally sink in, according to Gavin Quigan, Financial Markets Authority (FMA) KiwiSaver and superannuation schemes manager. Quigan told the Financial Services Council FSC)/Workplace Savings NZ (WSNZ) conference in Auckland last week that the traditional employer super market – already… [Read More…]