Willis Towers Watson (WTW) remains downbeat about the prospects for most asset classes over the next three years with the global consultant taking overweight positions in only US inflation-linked bonds and first-world cash. According to the WTW ‘Global Markets Monthly’ March 2016 report, the firm has rated most assets – excluding 10-15 year US TIPS… [Read More…]
Investment News
Reserve Bank flushes out details of crisis plans for financial plumbers
The Reserve Bank of New Zealand (RBNZ) has laid out further information on its final proposals to manage blockages or failures in the financial system plumbing. In a consultation document published last week, the RBNZ expanded on last year’s crisis management plans for systemically important financial market infrastructure (SIFMI). Under the proposals, the RBNZ and… [Read More…]
Dine out of Aegis as ASB brings platform under Securities boss
Peter Dine, long-serving head of the ASB-owned investment platform, Aegis, has been replaced following a review. In a note sent to Aegis clients yesterday, Nick Stanhope, ASB head of wealth, said Angela Busby, head of ASB Securities, would take over from Dine while retaining her current responsibilities. “ASB Securities and Aegis will remain separate businesses,… [Read More…]
Mercer ‘shock’ correction
A Plan for Life study – reported on Investment News NZ (IN NZ) this week – showing a dramatic plunge in Mercer NZ retail funds under management in the December 2015 quarter was incorrect due to faulty input data. According to a Mercer spokesperson, the group’s NZ funds under management actually grew above 3 per… [Read More…]
Wash-up for van Eyk continues as liquidators wring out remains
The sale of van Eyk Research Australasian assets over late 2014 to early 2015 may have fetched just a tad over A$1 million, the latest liquidation documents suggest. According to a just-released Australian van Eyk liquidation report, sale proceeds – likely relating to Lonsec’s 2015 purchase of the failed firm’s iRate research tool and clients… [Read More…]
AMP Capital lowers direct barrier; builds passive dynamic asset fund
AMP Capital has dropped the minimum investment for direct access to its range of 24 funds from $100,000 to $2,000 as it tests out demand in the non-advised retail market. Grant Hassell, AMP Capital NZ chief, said the updated direct retail service – due to go live this April – was a logical development given… [Read More…]
Annuitas names winner of $6bn custody battle
The latest Crown Financial Institution (CFI) custodial competition has ended in victory for the incumbent. Following a tender process launched in the middle of last year, JP Morgan was reappointed this month as custodian of the $4 billion Government Superannuation Fund (GSF) and the roughly $2 billion National Provident Fund (NPF) – both managed by… [Read More…]
Nikko fastest growing retail manager in 2015
Nikko NZ recorded the highest growth rates over the 2015 December quarter and annual period of 11 per cent and almost 62 per cent respectively, according to the latest figures published by Australian actuarial firm Plan for Life, with the fund manager formerly known as Tyndall seeing retail FUM jump from $510 million to $824… [Read More…]
Meds up dose for alternatives, fixes new deal with Westpac
The Medical Assurance Society (MAS) has upped its exposure to alternative assets as traditional bonds and equities lose their allure, according to the group’s head of investment products, Daniel Callaghan. Callaghan said MAS, which runs close to $1 billion in its superannuation and KiwiSaver schemes, has been allocating more to alternative assets as “other markets… [Read More…]
Fund enhancements, Apteryx deal pay off for Public Trust
The Public Trust has garnered about $360 million in funds under management across its recently rejigged diversified investment products. After closing 10 retail fund products and “releasing” a further six from public offer compliance duties in 2014, the Public Trust launched a new range of seven investment portfolios in July of that year. The Public… [Read More…]