Investment News

UK listed investment trusts have been granted some temporary reporting relief by regulators to unbundle fee disclosures that may have historically over-stated actual costs. In a ruling handed down last week, the UK Financial Conduct Authority (FCA) freed up listed investment trusts to publish a break-down of fund costs in mandatory disclosure documents in addition… [Read More…]

Sustainable assets under management rose 20 per cent during the two years to the end of 2022 to reach almost US$22 trillion but they also fell 14 per cent over the same period from US$35.3 trillion to land on US$30.3 trillion. The dual data reflects a “material change in the US methodology and the quantum… [Read More…]

The custodian is exploring use cases for machine learning and generative artificial intelligence to give its clients help in parsing – and visualising – the vast quantities of granular data now available to them. State Street is looking to build generative artificial intelligence into a host of its products to give clients “conversational” access to… [Read More…]

Dutch quant manager, Robeco, has dissed the ‘immaculate disinflation’ narrative, suggesting a darker conclusion to the economic story next year. In its outlook for 2024, the firm says while 2022 defied expectations, including the Robeco in-house view, of a global recession, rising hopes of a happy-ever-after ending for inflation and employment are likely delusional. The… [Read More…]

By some measures market breadth has fallen to its lowest levels in more than 20 years as the “Magnificent Seven” reign supreme. Investors should position for a broadening out of equity market leadership. The fundamentals of the Magnificent Seven (Apple, Amazon, Alphabet, Nvidia, Meta, Microsoft and Tesla) are undoubtedly impressive, but concentration within them has… [Read More…]

TA Associates could fetch up to $300 million or more for its reportedly in-play one-third stake in Fisher Funds. The Australian Financial Review reported last week that US private equity firm is sounding out investment banks across the Tasman to broker the sale, , with Goldman Sachs tipped as favourite. “Sources said Goldman Sachs, in… [Read More…]

Russell Investments NZ is set to launch a global listed property fund next month, seeded with $50 million. Built for local investors as a portfolio investment entity (PIE), the Russell Global Listed Real Estate Fund features US specialist firm Cohen & Steers and Deutsche Bank asset management subsidiary, DWS, as underlying managers along with an… [Read More…]

BNP Paribas’ securities services division has had a big win after being brought in to keep the preferred candidate honest on price during the tender process for MLC. It was a “Steven Bradbury-style win” for BNP Paribas, which has taken on full custody of the amalgamated Insignia Financial after being brought in as a stalking… [Read More…]

Goldilocks has left the building but consultancy firm, Oliver Wyman, is not forecasting a bear market for the global funds management and financial advisory sectors over the next five years. If not quite bullish, the latest Oliver Wyman annual review of the asset and wealth management industries – produced in association with Morgan Stanley –… [Read More…]

AMP has coughed up A$100 million to settle a long-running legal dispute with hundreds of Australian financial advisers stung by unilateral changes to business buy-out terms in 2019. The settlement “with no admission of liability” draws a line under the buyer-of-last-resort (BOLR) issue that had dogged the ASX-listed entity since the Australian Royal Commission into… [Read More…]