PIMCO’s former man in New Zealand, Tony Hildyard, is roaring back into the market with the launch of new $200 million plus fund managed by his ex-employer. Hildyard said the new global fixed income fund, to be marketed under the recently-established Hunter Investment Funds brand, was the first PIMCO-managed product structured specifically for NZ investors… [Read More…]
Investment News
Consilium lands $375m client as NZ platform hop rate ramps up
Auckland-based boutique advice firm, Private Wealth Advisers (PWA), will tip in close to $375 million to the FNZ-backed Consilium investment administration platform following a deal confirmed last week. The move, that will see PWA shift assets from the Craigs Investment Partners in-house administration service, comes amid a sustained period of platform-hopping in the NZ market…. [Read More…]
How to be reasonable: FMA ‘guide’ keeps fee conversation on the table…
The Financial Markets Authority (FMA) has knocked back industry calls to exclude the need to justify fees as part of ‘good conduct’ standards. In its revised ‘Guide to the FMA’s View of Conduct’ issued last week, the regulator says a number of submissions on the draft document said requiring firms to tell consumers why their… [Read More…]
… as Morningstar talks up KiwiSaver costs
Morningstar has defended the media and regulator focus on manager fees in its latest quarterly KiwiSaver survey. According to the Morningstar report, industry push-back following the NZ regulator’s release of a fee disclosure guide last year missed the point. The study says while certain industry groups argued returns after-fees and tax were more important than… [Read More…]
More Aussie funds line up for recognition in NZ
Australian-headquartered multi-boutique firm Bennelong Funds Management is making a formal play for the NZ market with the launch of nine products offered under the trans-Tasman Mutual Recognition regime. In a release last week, Bennelong chief, Craig Bingham, said the NZ effort coincided with the A$8 billion manager’s foray into Europe – with the opening of… [Read More…]
Assessing emerging market noise in a post-truth world
In a ‘post-truth’ world, investors need to remind themselves of some key objective facts which are integral in shaping the investment opportunities to be had, in particular, in emerging markets, writes Craig Mercer, the CIO of Remerga. Post-truth /pəʊs(t)ˈtruːθ/ adjective relating to or denoting circumstances in which objective facts are less influential in shaping… [Read More…]
Lessons from the shifty Nifty 50: index-bewareness in the techo age
As technology continues to upend established business models, Clayton Coplestone, head of Heathcote Investment Partners, questions how index investors will fare during the era of disruption… The future is approaching faster than one can handle. In 1998, Kodak – one of the darlings included in the proto-index ‘Nifty Fifty’ list of the largest US… [Read More…]
NZ Super backs plan for united Māori fund
The New Zealand Superannuation Fund (NZS) is spearheading efforts to create a united Māori investment vehicle capable of tapping into big-end-of-town private equity deals. As part of its broader ‘investment hub’ initiative announced last year, NZS will host a hui – or community meeting – early in February to fast-track plans to launch a long-mooted… [Read More…]
Researcher drops Fisher global fund in New Year clear-out
Morningstar has stopped covering the almost $29 million Fisher Funds International Growth Fund as part of its regular cull of irrelevant, poor-performing or unloved products. The Fisher global fund was the only NZ product cut by Morningstar during a new year clean-out that also saw the research house remove a number of big-name manager funds… [Read More…]
Adviser bodies hit the road with consumer-first merger proposals
The proposed transformation of New Zealand’s two largest financial adviser bodies into a single consumer-centric think-tank moves into its final consultation phase next week with a nationwide tour. According to Bruce Cortesi, Professional Advisers Association (PAA) and his Institute of Financial Advisers (IFA) counterpart, Michael Dowling, the 11-centre roadshow was the last opportunity for advisers… [Read More…]