Private markets have been on a one-way trip upwards for the past few years, fueled by an insatiable institutional investor appetite for alternative sources of risk and return. According to a recent McKinsey report, global private market assets under management hit US$13.1 trillion as at the end of June last year following a growth trajectory… [Read More…]
Investment News
Stewardship Code lands first community trust
Trust Waikato has emerged as the first community trust and the 20th overall signatory to the Aotearoa NZ Stewardship Code. In a statement, Maggie Zhang, Trust Waikato finance and investment manager, said making a formal commitment to the Code would “challenge us to apply best practice for our investment strategy”. “Despite being a smaller investor,… [Read More…]
Not the new China: putting India back on the investment map
India is often touted as the new China. But it’s not, according to Mugunthan Siva, India Avenue managing director, If anything India is the new US, Siva said, or to be more accurate, the old US. “India now has a similarity to the US at the beginning of the industrial revolution,” he said, citing a… [Read More…]
Changing correlations: high inflation-rates regimes keep bonds and shares in lock-step
Multi-asset investors may have to rethink assumptions about stock-bond correlations if inflation and interest rates remain high for a sustained period, a recent longitudinal study has found. Based on a comprehensive analysis of US and UK share and bond returns dating back to at least 1875 and more recent data for other jurisdictions, the report… [Read More…]
Nikko KiwiSaver takes on third-party managers, new name in scheme overhaul
Nikko Asset Management has retooled its KiwiSaver product as a multi-choice platform in a move that pits the scheme against the likes of InvestNow, Consilium and Sharesies. Launched this morning, the Nikko scheme – now rebranded as GoalsGetter KiwiSaver – adds nine diversified funds from five external managers to the existing suite of house products…. [Read More…]
Wholesale ANZ move triggers $760m question for AMP
AMP will have to find a new home for over $760 million held on behalf of KiwiSaver and superannuation scheme members by the end of August after ANZ scrapped its wholesale business last week. ANZ is the most popular among the four third-party managers contracted under wholesale terms to offer funds to AMP super and… [Read More…]
Smartshares eyes host growth as Craigs PIEs go live
The NZX-owned Smartshares has signalled a further foray into the fund-hosting game after striking a deal with Craigs Investment Partners. According to a NZX spokesperson, Smartshares is “providing Craigs with investment services and fund manufacturing for two funds they wanted in a portfolio investment entity (PIE) product for their client network”. “These services are an… [Read More…]
Aurora KiwiSaver dives into local private debt fund…
Local private debt manager, Private Capital Group (PCG), has secured a KiwiSaver mandate in a likely first allocation to the asset class for the sector. Aurora Capital, investment manager of the associated namesake $260 million KiwiSaver scheme, will initially target a weighting of 3 per cent to the PCG fund across two of its diversified… [Read More…]
… as Aurora adviser group goes to Haven
The Aurora Financial advisory group founded by entrepreneur Simon Rolland has been rebranded as Enva following a sale to interests associated with the Haven insurance and mortgage network last month. With more than 80 advisers operating under its umbrella, Enva is now majority owned by the HBTC entity, which also has a 100 per cent… [Read More…]
ACC flags material concerns over shareholder rights roll-back
The Accident Compensation Corporation (ACC) fund has urged the NZX to retain shareholder disclosure rules for material and related party transactions amid back-pedalling in other jurisdictions. Blair Cooper, ACC Investments head of equities, said the circa $50 billion fund was especially wary of moves in the UK to soften shareholder protections. Among other proposals, the… [Read More…]