Investment News

The New Zealand Superannuation Fund (NZS) has won important concessions in soon-to-be-passed legislation that allows it to assume majority control of some investment entities, loosens government control and fences certain underlying assets from public scrutiny. Under the New Zealand Superannuation and Retirement Income Bill, now divided into two separate pieces of legislation, the NZS will… [Read More…]

The Westpac KiwiSaver default fund will hold off transitioning its international shares portfolio to a Vanguard index strategy despite reaching the threshold for such a move. According to Matthew Goldsack, BT Funds Management head of investment solutions, the Westpac KiwiSaver default option – the Defensive Fund – will remain invested in active global share managers… [Read More…]

A just-published US study has found institutional index investors are using their powers wisely to influence corporate governance behaviour. The University of Pennsylvania paper, titled ‘Passive investors, not passive owners’, says its research overturns the common perception that index investing is a hands-off exercise. “Many worry that passive investors lack both the motives and mechanisms… [Read More…]

FTSE has lured a top executive from rival global index firm, MSCI, as director for its Australia and NZ operations. In a statement, FTSE said ex MSCI executive director, Justin Walsh, has joined its Australian office “to help expand the business, as well as maintaining the high level of service already provided to clients”. “The… [Read More…]

Australian super funds have had a long, but sparse, history with agricultural investments. It may be, however, that times have changed. Demographics make the new-look agricultural investments currently on offer seem particularly appealing. The old Prudential Australia, before it was bought by Colonial in 1998, was a pioneer with a Northern Territory beef fund, which,… [Read More…]

At a star-studded dinner at Sydney’s Ivy Ballroom, UniSuper and QSuper, won the two top awards at the third annual Chant West Awards night, but for many in the room, it was Bruce Watson of AUSCOAL who stole the show with an impromptu and heartfelt appeal for the victims of the Nepal earthquake. Watson, AUSCOAL’s… [Read More…]

At least six final bidders remain in the running to buy Russell Investments, according to offshore media reports. The Financial Times (FT) last week named global asset consulting firm, Towers Watson and Ameriprise, owner of funds management firm Threadneedle, as second-round bidders for the Russell Investments business, along with an anonymous Chinese firm and a… [Read More…]

NZ share managers measure capacity across a wide range, according to a new study by actuarial consulting firm, Melville Jessup Weaver (MJW). According to the MJW report, which surveyed nine local fund managers, estimated capacity – the point at which funds under management drag performance – ranged from 1.2 per cent to 2.25 per cent… [Read More…]

After a month’s delay, AMP Capital handed over control of its roughly $690 million active New Zealand equities portfolio to Salt Funds Management last week. An AMP Capital spokesperson confirmed the transition, originally scheduled for the end of March, had gone through last Friday. Salt was appointed to the role – the biggest single NZ… [Read More…]

The New Zealand Superannuation Fund (NZS) has begun winnowing through local equities managers up for the approximately $260 million mandate vacated by AMP Capital last year. An NZS spokesperson said the sovereign wealth fund is “working through our shortlist” with the beauty parade understood to have begun last week. The active NZ equities mandate –… [Read More…]