The financial regulator and Milford Asset Management portfolio manager, Mark Warminger, have been allotted a two-day period late in October to restage their legal battle. A spokesperson for the Auckland High Court said the Financial Markets Authority (FMA) v Warminger appeal “has a hearing date of 24 and 25 October 2017”. The FMA came out… [Read More…]
Investment News
Pan-Māori fund in three-month capital-raising drive
The proposed Māori Co-Investment Fund (MIF) would need at least $60 million at launch to be a serious player, according to Tama Potaka, New Zealand Superannuation Fund (NZS) investment hub co-ordinator. “If it could get $120 million that would be fantastic,” Potaka said. He said over the next three months the MIF working party –… [Read More…]
Tilting a windfall for NZ Super
Taking active positions on the relative value of about 30 assets has added some $2 billion to the New Zealand Superannuation Fund (NZS) over the last eight years, a new report reveals. According to the NZS ‘Strategic tilting’ white paper published last week, the approach – where the fund takes long or short positions on… [Read More…]
BNY Mellon tackles China… good luck
It is the last frontier. China. Big fund managers have studied it and tried to build a business there. Many have faltered, but some have built a foothold. The latest to have a crack, as we say, is BNY Mellon. Good luck son, as we also say. BNY Mellon Investment Management, which has about US$1.7… [Read More…]
Why Brandywine is optimistic in a pessimistic world
It’s not often that a value manager, such as the big US mainly-fixed interest house Brandywine Global Investment Management gets excited by some news signalling an uptick in growth. But this happened last week with the surprisingly strong numbers for the PMI in the US (the Purchasing Managers’ Index). The Institute for Supply Management’s Manufacturing… [Read More…]
Aussie adviser groups consider war of independence
A legal row is brewing across the Tasman with niche adviser organisations battling the Australian regulator over a recent ruling restricting use of terms implying ‘independence’. According to media reports, two adviser groups – the Association of Financial Advisers (AFA) and the Association of Independently Owned Financial Professionals (AIOFP) – have began lobbying for a… [Read More…]
Go long, earn 1.5% extra per year, study finds
Institutional investors could boost annual returns by up to 1.5 per cent through long-term investment strategies, according to a new meta-study. The Willis Towers Watson-backed ‘Thinking Ahead Institute’ report found investors focused on the long-term could realistically expect to reap “meaningful” benefits by capturing opportunities and reducing costs (or mitigating losses). “We propose that with… [Read More…]
FANMAGs the new world order for large caps
The world of big technology companies, a select group of which appears to be reshaping the world in which we live, is also reshaping the world in which we invest. The group is as dynamic as the disruption these companies are creating. For the past few years the so-called FANGs (Facebook, Amazon, Netflix and Google)… [Read More…]
Complectus sale collapse claims first casualty
Less than two years into his role as Complectus CEO and just over a week since the firm’s aborted sale to prospective Australian buyers, Grant Kemble, has exited the business. A Complectus spokesperson confirmed last Friday that Kemble, hired from legal firm Russell McVeagh in August 2015, “has left the company” with company founder, Andrew… [Read More…]
MMC makes top-level changes, cracks $30bn under admin
Auckland-based fund administration firm MMC is phasing in a succession plan with revised roles for the two founders, Tom Reiher and Robert Moss. Reiher, previously MMC chief operating officer, has taken on the CEO role with responsibility for the firm’s day-to-day management. Meanwhile, Moss, who retains the managing director title, has been stepping back from… [Read More…]