Investment News

Veteran ANZ funds business development manager, Mary Potter, is to leave the $30 billion firm to take up a new career as a financial adviser. Potter has worked with ANZ or predecessor brands – Armstrong Jones, ING and OnePath – since 1999, building a high profile among financial advisory groups. In a note to clients,… [Read More…]

BlackRock has pencilled-in several new hires in NZ after announcing its first local appointee last week. “We intend to grow our local team in New Zealand to reflect our commitment to serving a broad set of clients,” a BlackRock spokesperson said. The US$10 trillion plus firm has an outsize presence in NZ as underlying manager… [Read More…]

Australasian stock exchanges are gearing up for a change of pace as the world’s largest equity market readies to halve settlement time next week. Both the NZX and ASX are considering a shift to ‘T+1’ trading to align with the new speed limit for North American bourses set to come into play on May 27… [Read More…]

Listed property has sunk into doer-upper status over the last few years. The run-down asset class has weathered reputational damage in the wake of COVID, which left a strew of wreckage in the global office market including the ruins of high-profile collapsed shared-space star, WeWork. And the tough times for the listed Real Estate Investment… [Read More…]

Stock-picking has never gone out of style for Julian McManus, portfolio manager on the Janus Henderson global alpha equity team, even if his preferred investment style is none. “We want to avoid style bias,” McManus said by correcting for any overt influence of well-known factors such as growth or value on the manager’s concentrated global… [Read More…]

The newly rehoused BNZ KiwiSaver and funds business is set to complete its Australasian asset transfer to Harbour this week as cash and local fixed income portfolios change hands. As reported in March, Harbour was the beneficiary of the recent construction of FirstCape, which bundles the fund manager with the BNZ investment arm and the… [Read More…]

The gap between the two largest KiwiSaver providers shrank by almost 1 per cent in the March quarter as ASB gained ground on a flagging ANZ. Morningstar data shows the three ANZ schemes controlled 18.8 per cent KiwiSaver market share as at the end of March compared to 19.5 per cent three months previously: at… [Read More…]

The Australian financial regulator has warned superannuation funds over poor advice practices akin to the ‘fees-for-no-service’ scandal uncovered in the 2018/19 Royal Commission. In a report handed down last week, the Australian Securities and Investments Commission (ASIC) found “evidence of inadequate oversight of advice fee deductions” that could put super fund member savings at risk…. [Read More…]

Local financial services consultancy business, Mosaic, has struck a deal with a Toronto-based firm to provide climate-related disclosure tools in the NZ market. Mosaic will offer NZ clients access to AI-based software developed by Manifest Climate that allows businesses to “conduct gap analyses and peer benchmarking in real-time to align with regulation requirements, eliminating manual… [Read More…]