Investment News

AMP is making a pitch to the non-aligned advisory market with a range of “succession solutions”. In an email sent to advisers late in August, AMP offered a range of business exit strategies to the wider market including help developing successors “to commencing an equity/capital release strategy”. “AMP wants to help Advisers with wealth management… [Read More…]

Kiwi Wealth should know within six months whether its live KiwiSaver social experiment is a success, according to Joe Bishop, head of retail for the group. Bishop said if the Kiwi Wealth KiwiSaver member engagement tweaks go to plan the whole industry could benefit from the findings. “If we can find a way to help… [Read More…]

Infrastructure is still finding its place in institutional portfolios with a wide disparity in allocations reflecting the novelty of the asset class, a new study has found. According to ‘The role of infrastructure in a portfolio’ research paper published last week by Australian boutique manager Maple-Brown Abbott (MBA), both consultants and investors demonstrate “significant variance”… [Read More…]

NSW Treasury Corporation, the $70 billion investment fund managing the State’s largest pool of fiduciary money, has spilled several of its most senior positions, including that of CIO, and appointed a recruitment firm to advise on staffing under a proposed restructure. David Deverall, who became chief executive early this year after the retirement of Steve… [Read More…]

In a ground-breaking move for the institution globally, the Bank of China (BOC) NZ has launched the first of what could be many locally-domiciled funds aimed at meeting the legal obligations of Chinese immigrants seeking residence in New Zealand under investor exemptions. Eric Wei, BOC NZ head of family office, said the $150 million wholesale… [Read More…]

Wellington-based boutique firm Implemented Investment Solutions (IIS) has launched a first-of-its-kind fund-hosting service. IIS, which currently manages over $1 billion as the offering entity for a range of five Russell Investments products, has already attracted expressions of interest from several investment groups in the service, according to managing director, Anthony Edmonds. Edmonds said the IIS… [Read More…]

The Wellington office of Macquarie has suffered a mass exodus of advisers as the firm completes a corporate makeover. It is understood three of the five Macquarie advisers housed in the group’s Wellington branch have decamped to rival broker, First NZ Capital, in the wake of the corporate restructure. In the deal announced this May,… [Read More…]

Just under 150 traditional superannuation schemes have been listed as regulation-ready in the latest Financial Markets Conduct Act (FMC) ‘order in council’. The order in council, which brings into effect legislation, names about 100 stand-alone employer schemes as potential FMC-compliant candidates (with the remainder composed of retail schemes and QROPS funds). However, the final count… [Read More…]

Michael Gordon* puts the fund management fee debate in perspective.   Much has been written on these pages in recent weeks on the issue of fund manager fees. The argument is not new and is typically partisan. However, in 30 years in the business I’ve never seen fee pressure so extreme. Fees right across the… [Read More…]

Australasian fund managers and asset owners will inevitably follow the European trend of integrating environmental, social and governance (ESG) factors into the investment process, according to Nicolas Le Clech, BNP Paribas Securities head of product and transformation. The Sydney-based Le Clech, in NZ last week on client visits, said while there was no single standard… [Read More…]