Investment News

Australian multi-boutique distributor, Pinnacle, is looking to expand in the NZ market with an Auckland-based sales role up for grabs. According to the listed job description, Pinnacle, which boasts about A$26 billion in funds under management across its seven affiliate investment firms, wants a NZ distribution director to unearth “new business opportunities in NZ… across… [Read More…]

The $400,000 fine slapped on Milford portfolio manager, Mark Warminger, was aimed at “prevention, not punishment”, according to the penalty judgment handed down in the Auckland High Court last week. While the $400,000 fine was a quarter of the figure argued by the Financial Markets Authority (FMA), Justice Venning concludes the penalty was a sufficient… [Read More…]

It’s been a long time coming but MFS Investment Management has started to market in Australia its 50-year-old fixed income suite of strategies. Bill Adams, the Boston-based global CIO for fixed income, made his first visit to Australia last week. Best known in this region for its global and international equities, MFS has about US$80… [Read More…]

Russell Investments has enhanced its environmental, social and governance (ESG) credentials with an expanded range of exclusions across its flagship global shares and fixed income funds. In a client note released last week, Russell says following a review of its responsible investment strategy the multi-manager would “broaden the exclusion list” applied to the Global Bond… [Read More…]

Fund managers look set for another torrid regulatory ride in the UK following a landmark report published last week. The final Financial Conduct Authority (FCA) ‘Asset Management Market Study’ includes a swingeing “package of remedies” designed to increase competition, lower fees and improve disclosure in the UK funds industry. Under the proposals UK fund managers… [Read More…]

Super funds have always struggled with their decisions surround currency management – often times the most important investment decision for an Australian investment committee. Hedge or not, active or passive, cross-currency management or not? In a new study called ‘Managing Currency Risk in a Two-Speed World’, bfinance, the global mandate search firm and implementation advisor,… [Read More…]

Christian Hawkesby, Harbour Asset Management executive director, scopes out the potential impact of recalibrated inflation targets   At the press conference following the US Federal Reserve (US Fed)’s most recent interest rate decision, Governor Janet Yellen made an admission that marks a significant change in tone from the US Fed. She acknowledged that the debate… [Read More…]

BT Funds Management NZ (BTNZ) has sold down its global equity holdings in a fund operated by sister Australian firm in favour of direct mandates with a reduced range of underlying managers. Following the change, implemented last week, the investment arm of Westpac NZ cut the number of underlying international share managers from seven to… [Read More…]

Last-minute haggles over fixtures and fittings may have derailed Australian firm Sargon Capital’s $200 million plus bid for NZ trustee company roll-up, Complectus. Sources close to the deal told Investment News NZ (IN NZ) legal wrangles over Complectus physical assets held up final settlement of the purchase beyond the May 31 deadline. In a brief… [Read More…]

Andrew Mehrtens, the former All Blacks great, is to return to New Zealand to work and live after a four-year stint in finance in Australia. He is to become BNZ Markets Investor Sales director, fixed income, currencies and commodities in Auckland. Mehrtens is currently an associate director of business development at NAB Asset Servicing, based… [Read More…]