Australasian small-cap specialist, Pie Funds, plans to launch its own KiwiSaver scheme next year, according to the boutique manager’s head of client services, Sam de Court. De Court said Pie clients had been pushing the group to roll out a KiwiSaver scheme for some time, “but we told them we’ll look at it when we’re… [Read More…]
Investment News
Super Fund rekindles passion for in-house passive NZ shares
The New Zealand Superannuation Fund (NZS) has sparked up its dormant internal local equities passive mandate under a revised investment policy published at the end of August. In 2013 NZS switched to running its-then approximately $300 million in-house local shares portfolio from passive to active management. NZS originally took the passive local equities internally in… [Read More…]
Milford in the money as profits hit new high
Milford Funds saw annual profits spike by over 40 per cent in the 12 months to March 31 this year, according to its latest accounts. The Milford accounts, filed last week, report an after-tax profit of more than $15 million in the 2014/15 year compared to $10.5 million in the previous annual period. Over the… [Read More…]
RFPs shoot up as super funds search for FMC relief
As the transition deadline for Financial Markets Conduct Act (FMC) compliance looms closer, employer-based super funds are increasingly looking for outsourced solutions, according to Therese Singleton, AMP NZ head of investments and insurance. Singleton said the number of super fund requests for proposal (RFPs) has ratcheted up since this June as trustees prepare for FMC implementation… [Read More…]
NZX gives last rites to Smartkiwi, readies members for new life in another scheme
Almost nine months after it purchased superannuation and KiwiSaver provider, SuperLife, the NZX is preparing to wind up its incumbent scheme, Smartkiwi. According to the Smartkiwi accounts for the 12 months to end of March this year, the “financial statements have not been prepared on an ongoing basis” with a wind-up likely in the current… [Read More…]
UK researcher says indexing risks to challenge investors
Index investing can be just as risky as active management, head of UK-based firm Create Research, Amin Rajan, told Australasian investors last week. Rajan, who publishes a highly-regarded annual global investor survey in association with Principal Global Investors, said passive investing might be cheap “but it’s not always cheerful”. “If you’re a serious long-term investor… [Read More…]
Nikko hooks nib at as Fisher cut loose
It is understood Nikko Asset Management NZ knocked out incumbent Fisher Funds in its recent $100 million plus mandate win from health insurer, nib. The nib mandate took Nikko NZ’s total asset under management over $4.6 billion, compared to $3.9 billion as at the end of last year, the firm said in a statement. Australian-headquartered… [Read More…]
Outsourcing moves to front office with dealing services
Having made its way from the backoffice and, increasingly, through the middle office, the outsourcing phenomenon is starting to take hold in the front office. Due to a combination of new regulations and increasing complexity in trading, outsourced dealing services are beginning to replace many inhouse capabilities. According to Philippe Boulenguiez, global head of dealing… [Read More…]
How funds and managers fail women
Women have different investment wants and needs than men, make their choices differently and, increasingly, are the more important influencer of choice in the household. But the industry is failing them. Super products such as fee holidays when there are no contributions – during child bearing and rearing – could be very attractive. This is… [Read More…]
Alternatives head quits AMP Capital after 17-year stint
AMP Capital NZ executive, Nick Dobson, has resigned after almost 20 years with the business. Grant Hassell, recently-appointed AMP Capital NZ managing director, said Dobson’s imminent departure had been well-signaled. “Nick has been in charge of AMP’s alternative assets – including private equity – which we’ve been selling down since the GFC,” Hassell said. “That… [Read More…]