Investment News

TSB Bank has upped its stake in Fisher Funds to 49 per cent. Maria Ramsay, chief executive of the TSB Community Trust, confirmed today that TSB Group Investments had raised its holdings in Fisher purchasing the shares “off a variety of shareholders”. Previously, TSB owned just over 26 per cent of the Fisher business after… [Read More…]

Milford Asset Management portfolio manager, Mark Warminger, will face court on market manipulation charges next September, the Financial Markets Authority (FMA) revealed last week. According to the FMA website, Warminger, who was singled out by the regulator for legal action in June after an almost year-long investigation into Milford, will begin proceedings on September 26,… [Read More…]

PIMCO’s man in New Zealand, Tony Hildyard, will leave the business by year’s end as the global fixed income firm ditches third-party distribution in Australasia. Adrian Stewart, head of PIMCO Australia and New Zealand, said Sydney-based, Matthew McLenaghan, would assume Hildyard’s NZ client responsibilities over the coming months. “Over the past year PIMCO Australia and… [Read More…]

Grosvenor Financial Services is mulling over a potential acquisition to be funded by a mixture of rights issue and debt, according to the group’s joint CEO, Allan Yeo. Yeo said – if it goes ahead – the purchase should be completed before this Christmas “but it could spill over into early next year”. He said… [Read More…]

The NZX-owned FundSource should announce a deal with Australian firm mfund Research this week to provide qualitative reports on New Zealand fund managers and products. “We expect to write to FundSource clients on this matter in coming days,” an NZX spokesperson told Investment News NZ (IN NZ). First reported by IN NZ in May, the… [Read More…]

A tiny Auckland-based superannuation scheme aimed at UK pension transfers has frozen after its eco-friendly investments turned nasty. According to its latest financial accounts, the GBP International super fund suspended all redemptions citing the inability to “access the valuation” of the underlying funds managed by Isle of Man-based investment firm The Premier Group. The GBP… [Read More…]

Superannuation scheme numbers held steady over the 12 months to December 31, 2014, despite membership falling by over 18,000, new Financial Markets Authority (FMA) statistics reveal. According to the FMA statistics, released last week, there were 456 registered super schemes as at the end of 2014, just one less than the previous year. Total scheme… [Read More…]

Harbour Asset Management will roll out retail versions of two wholesale funds in the coming weeks. Jody Kaye, Harbour chief operating officer, said the Wellington-based boutique manager has retailised its Income Fund and the recently-released T Rowe Price Global Equity Growth Fund. Kaye said Harbour decided to launch the two retail funds after testing demand… [Read More…]

Equity funds bled a sea of red over the September quarter, according to the latest Aon Hewitt NZ manager survey. However, in one of the most volatile three-month trading periods since the GFC, the median manager in both the Australasian and global (unhedged) shares outperformed their respective benchmarks over the quarter, the Aon survey shows…. [Read More…]

We’ve heard a lot about the recent stellar rise in demand for the so-called ‘40 Act’ liquid alternatives funds in the US. Well, here is how the trend is playing out in Australia. Surprisingly, big super funds are beneficiaries. According to David Saunders, the founder and managing director of K2 Advisors, an affiliate of Franklin… [Read More…]