State Street Global Advisors published its annual ‘Stewardship Report’ last week. It is worth a read to help get a better understanding about the ESG tsunami washing over our industry. There is now no doubt: ESG management makes money. If you don’t have a strategy, please hand in your license. Most recently famous for coming… [Read More…]
Investment News
Ngāi Tahu stumps up $48m for ‘next level’ Pathfinder global SRI fund
Auckland-based boutique Pathfinder Asset Management has secured an almost $50 million mandate from Ngāi Tahu for its just-launched socially responsible investment (SRI) wholesale global equities fund. John Berry said the new Responsible Investment Fund has taken the SRI model to “the next level” in the NZ market with a sophisticated screening process backed up by… [Read More…]
IMF takes swing at wholesale, custody gaps in NZ regs
New Zealand should extend regulatory oversight to both custodians and the wholesale managed funds market, according to the International Monetary Fund (IMF). In its recently published Financial Sector Assessment Program (FSAP) for NZ the IMF said while regulation of the country’s funds management industry was “well developed” there remains “scope to consider broadening its perimeter”…. [Read More…]
Marching on: KiwiSaver, providers click through milestones
KiwiSaver broke through the $40 billion mark during the March quarter as three bank-owned providers also recorded numerically-significant fund-odometer readings. According to data from Australian research house, Strategic Insight (SI), the KiwiSaver market grew 5.8 per cent over the first three months of 2017 to hit $40.65 billion compared to $38.4 billion as at the… [Read More…]
Record month tips exchange-traded products above $4tn
Global exchange-traded product (ETP) funds under management slopped over the US$4 trillion level in April as the passive products du jour continue their ascent. Figures from consultancy firm ETFGI show record monthly net inflows of almost US$38 billion in April – the 39th consecutive month of positive flows in the listed index product sector –… [Read More…]
Small gets too small as Nikko shuts ‘niche’ fund
Nikko Asset Management NZ has closed its Australasian Small Companies Fund citing flagging demand and cost concerns. Established in 2009, the Nikko Australasian small cap fund officially wound up in March with a little over $1 million on the books. George Carter, Nikko NZ chief, said just prior to closing the fund had about $5… [Read More…]
There can be only two: INFINZ equity manager award a split decision
In a departure from recent practice just two firms are in the frame for the INFINZ equities fund manager of the year to be awarded this Thursday. However, Jim McElwain, INFINZ executive director, said while the fund awards have traditionally featured three finalists, the number wasn’t set in stone. “The fund awards are based on… [Read More…]
How to get the most out of emerging market debt
The odds are that the overall market returns from emerging market debt strategies – their beta – will be more subdued in the next couple of years than the recent past. But the allocations are just as necessary for yield-hungry investors. Here’s what one specialist manager suggests investors should do. Denise Simon, who has been… [Read More…]
AML specialist and CPD provider join forces for maximum effect
Wellington-based firms Dynamique and Compliance Plus have teamed up to launch a new all-inclusive anti-money laundering (AML) and continuing professional development (CPD) service to the NZ and UK markets. Branded as ‘Maxima’, the joint project will provide financial services firms in both jurisdictions with access to both AML compliance and a wide range of professional… [Read More…]
Why managers need more than performance to succeed
Good investment performance used to be all a fund manager needed to deliver. It’s still essential, but it is no longer a sufficient ingredient for success, according to Joe Sullivan, the president and chief executive of multi-affiliate manager Legg Mason Global Asset Management. Sullivan visited Australia last week to speak at Legg Mason symposiums in… [Read More…]