Investment News

New Zealand retail investors will have to crank up the risk or accept lower fixed income returns as a raft of high-yielding corporate bonds mature this year. About $6 billion in high-coupon local retail corporate bonds were set to retire this year with roughly one-third of that capital paid out in the first quarter. Grant… [Read More…]

Russell Investments was the fastest-growing manager in the New Zealand retail funds market over 2014, according to new data released by Australian research firm, Plan for Life. The Plan for Life report shows Russell grew retail funds under management (FUM) by 76.6 per cent over the calendar year and a whopping 54.9 per cent in… [Read More…]

Many mid-tier discretionary investment management service (DIMS) providers will exit the market if the threshold for full financial reporting exemption is not raised, according to Nick Stewart, director of Hastings-based advisory firm Stewart Group. In a submission to the Financial Market Authority (FMA) consultation on DIMS financial reporting for “small to medium providers”, Stewart says… [Read More…]

New Zealand’s financial watchdog is considering watering down ‘wholesale investor’ disclosure requirements after concerns raised by industry. In a consultation document released on April 2, the Financial Markets Authority (FMA) has sought feedback on proposals to dispense with the need to issue a warning to investors with $750,000 or more to invest in a product…. [Read More…]

Sophisticated investors aged 60 and over are among the fastest growing adopters of ‘robo’ advice globally and Australia’s self-managed superannuation fund market will be the next frontier for automated advice of various types, according to a report by financial services consultancy FinDigital and robo advice newcomer Ignition Wealth. The ‘2015 Automated Investment Advisors Global Market… [Read More…]

Banks, fund managers, KiwiSaver providers and other financial institutions could be up for further compliance upgrades under proposals put forward in the government tax reform ‘green paper’ http://taxpolicy.ird.govt.nz/sites/default/files/2015-dd-mts-1-tax-administration.pdf published last week. The wide-ranging reforms proffered in the ‘Making tax simpler’ paper aim to bring all New Zealanders’ tax-related obligations under a single, digital-age roof. As… [Read More…]

Listed fund management companies delivered an average of 33 per cent profit margin in 2014, the highest in five years, on revenue growth of 13 per cent, accord to a study by Casey Quirk & Associates. Australia’s seven listed firms outperformed all others in terms of revenue growth, with an average of 25 per cent…. [Read More…]

Findex Group, which now has A$15 billion under management and administration from the retail sector, has recruited two big names to oversee its investments, following the insourcing of advice and admin from Philo Capital. Findex, or Financial Index Wealth Accountants, bought the Australian and New Zealand arms of accountancy firm Crowe Horwath this January. Philo’s… [Read More…]

In the first of a series of five articles addressing trust governance issues, Mark Weaver, partner with actuarial consulting firm Melville Jessup Weaver, lays out the fundamentals for developing and investment strategy. Rather than relying on ongoing capital injections from sponsors, most trusts want to back up their grant-making largesse with a strong investment performance…. [Read More…]

It is understood Sterling Grace has withdrawn Trustees Executors (TE) from sale after offer prices fell short of expectations. According to industry sources, TE has told New Zealand clients the firm is no longer on the market with a return to ‘business as usual’. As reported by Investment News NZ (IN NZ) earlier this month,… [Read More…]