Active management continues to be a good bet in the NZ equities market but the odds narrowed in recent years, a new Mercer report reveals. According to the just-released Mercer study, over the five years to the end of 2016 the median NZ shares manager beat the benchmark S&P/NZX50 by 0.5 per cent before fees… [Read More…]
Investment News
… as Vanguard brings factor funds to Australia
In what may be a sign of things to come in the active-versus-passive debate, Vanguard Investments has launched an initial range of three ‘active’ funds in Australia. Low-cost ‘active’ funds are likely to mushroom through the retail market. Are they really active? Vanguard announced this week that it began adding active funds to its product… [Read More…]
Listing rule review to ease way for funds, as dark pools and DMA under scrutiny
More financial products such as managed funds could list on the NZX under rule tweaks up for consideration by the stock exchange operator this year. The ‘NZX regulatory agenda’ for 2017 published last week flags a more flexible approach to investment products as part of a “proposed review” of listing rules this year covering the… [Read More…]
How emerging markets grew up
Emerging markets (EM) have long been a troublesome bet for equity investors: the perennial over-promiser and under-deliverer. But according to Kim Catechis, head of global emerging markets for the Edinburgh-based fund manager Martin Currie, EM stocks are poised for a period of sustainable growth. Catechis, in NZ later in March to meet with local investors,… [Read More…]
FSC sings out new direction
The Financial Services Council (FSC) NZ was regaining its sense of purpose after a confidence-sapping couple of years, according to recently-appointed CEO, Richard Klipin. Klipin, who took over the FSC reins in October last year from interim head, Owen Gill, said the industry body has articulated a “clear vision to be the voice of financial… [Read More…]
Ex Vontobel star’s new fund garners support across the Tasman
A “good chunk” of the US$1.3 billion currently managed by Florida-based start–up GQG Partners has come from Australian investors. The firm, launched in June last year and backed by Australia’s Pacific Current Group, is expecting to have more than A$1 billion from Australian clients by the end of March. But GQG is not your typical… [Read More…]
NZX open to third-party distribution deals to fuel KiwiSaver, ETF growth
The NZX would consider partnering with other entities – including advisory groups – to market its SuperLife KiwiSaver scheme, according to the group’s interim chief, Mark Peterson. “We’re open to finding someone else to sell our KiwiSaver,” Peterson said. “For example, it could be white-labeled by financial advisory firms.” He said with both the NZX… [Read More…]
Russell exits Australasian actuarial practice with Willis deal
Russell Investments in Australia is exiting the actuarial part of the industry, announcing last week that it has sold its Australian and New Zealand actuarial practice to Willis Towers Watson. The deal involves the transfer of 22 actuarial staff. Pete Gunning, Russell’s chief executive for Asia Pacific, said the sale reinforced the firm’s focus on… [Read More…]
Researchers sanguine on Gaynor exit; new Milford PE fund lays down first bet
Researchers at both the retail and wholesale level have reacted calmly to last week’s across-the-board portfolio manager reshuffle at almost $4 billion Milford Asset Management, which included the exit of founder and figurehead, Brian Gaynor, from day-to-day duties. Ben Trollip, Melville Jessup Weaver (MJW) senior investment consultant, said Gaynor’s decision to step away from managing… [Read More…]
FAA gone as FMC to assume most advice-ruling powers
The move to entity licensing will see most financial adviser regulation devolved to the Financial Markets Conduct Act (FMC) under draft reforms released last week. In an “omnibus bill” exposure draft published last Friday by the Ministry of Business, Innovation and Employment (MBIE), the Financial Services Legislation (FSL) will replace the troubled 2008 Financial Advisers… [Read More…]