Fat Prophets and Switzer are the latest LIC successes to beat their target raisings. Now, Morphic Asset Management’s ‘ethical equities fund’ and Plato Investment Management’s ‘income’ fund were launched last week. Are LICs a funds management bubble? The market, dominated by individual – and mainly unadvised – investors, is hard to pick. For instance, the… [Read More…]
Investment News
ESG turns the corner – it actually makes money
Vontobel Asset Management, the big Swiss-based multi-strategy manager, which has been managing money on a sustainable basis since 1994, believes the corner has finally been turned. Investors – at least the professionals – now know that ESG management enhances returns. Zurich-based Roger Merz, Vontobel managing director and head of portfolio management, said on a recent… [Read More…]
Providers go on KiwiSaver guidance green light
Several providers have already relaxed constraints on staff for giving KiwiSaver advice following the release of the regulator’s new guidance note last week, according to Liam Mason, Financial Market Authority (FMA) director regulation. In the wake the updated guidance note – which replaces the more prescriptive 2012 version – Mason said the FMA was aware… [Read More…]
Treasury finds strict fund sell-down rules expensive; English asks NZS for no comment
Forcing NZ government funds to sell-down holdings in collective investment vehicles (CIVs) to avoid controversial companies could “result in potentially material costs”, according to a just-released Treasury analysis. Published last week under Official Information Act (OIA) rules, the April 2016 Treasury report on the Accident Compensation Commission (ACC) and New Zealand Superannuation Fund (NZS) “responsible… [Read More…]
BNP NZ scores regional custody first, new ops chief
The NZ arm of BNP Paribas Securities Services is the first in the Asia-Pacific region – and only the fourth of the French financial services giant’s 27 country operations – to switch on a new streamlined custodial system. Following the changeover all BNP’s NZ custody clients have shifted from a global model to a “segregated… [Read More…]
Late introduction tipped but adviser regime change a dead cert
The government will likely miss the pre-election deadline for introducing the revised financial adviser legislation, according to Kensington Swan partner, David Ireland. Ireland, who doubles as chair of the current Code Committee for Financial Advisers, said the Ministry of Business, Innovation and Employment (MBIE) had set an “ambitious timeframe” for bringing the Financial Services Legislation… [Read More…]
Super admin growth sees MJW add to principal count; ; Nikko makes product man permanent
Melville Jessup Weaver (MJW) has appointed Steve Grant, head of the consultancy firm’s superannuation administration division, as principal effective April 1. Grant, who joined MJW in 2000, has overseen a tripling in the company’s administration client base since the end of 2014 from about seven to its current roster of 22. “Over the last 18… [Read More…]
Pengana deal with Hunter Hall gets the nod from Wilson
The proposed merger of Pengana Holdings and Hunter Hall International is good for Hunter Hall investors according to Geoff Wilson, who has been battling for small shareholders since the bizarre sale of a big part of his stake by founder Peter Hall over Christmas. If it progresses, which is considered likely, the merger should bring… [Read More…]
How ESG analysis adds value in emerging markets
A strong focus on governance standards is the key to successful investing in emerging markets (EM), according to the principals of a new specialist EM investment manager, Remerga. Remerga’s first fund, the ‘Emerging Markets Sustainable Leaders Fund’, offers access to a concentrated portfolio of stocks in across the emerging markets. Remerga makes its stock selection… [Read More…]
Manager-fest attracts strong demand
Third-party fund marketing firm Heathcote Investment Partners has signed up about 300 delegates around to the country for its annual Meet the Manager (MTM) national roadshow, according to founder, Clayton Coplestone. Coplestone said the high demand for spots at the invitation-only series of one-day events in NZ’s three major centres indicated strong appetite for specialist… [Read More…]