Investment News

KiwiSaver membership fees are still a thing, according to the third National Capital quarterly sector review published this week. The National survey of 24 KiwiSaver providers found half still charged membership fees despite a trend against the fixed cost in recent years. Over the 12 months to March 31 this year, for instance, ANZ, ASB… [Read More…]

Dimensional Fund Advisors (DFA) has launched a set of exchange-traded funds in Australia just three years after listing products for the first time in the US. DFA kicked off its ASX-listed ETF campaign with two core global equity funds (hedged and unhedged versions) and an Australian equities strategy. In a release, the manager says the… [Read More…]

Milford Asset Management now has two 2023 vintage fund manager of the year awards for the trophy cabinet after claiming the Research IP top prize last week. The $16 billion plus Auckland boutique was also named the Morningstar NZ best-in-show manager this March. Edging out QuayStreet, Schroders and Smartshares for the Research IP overall manager-of-the-year,… [Read More…]

Big institutions live and die by their data, but State Street finds that very few have a strategy for acquiring and managing it while many are lagging in their technology investment. More than 80 per cent of the 520 institutions surveyed for State Street’s latest Data Opportunity Study believe the opportunities arising from enhanced data… [Read More…]

Former National Party Commerce Minister, Simon Power, will replace Bruce McLachlan as Fisher Funds chief next year. In a release this afternoon, Fisher chair, David Clarke, said Power would join the $23 billion plus manager “as we complete the full integration of Kiwi Wealth and as we look to the future, leveraging Fisher Funds’ expanded… [Read More…]

The Lifetime Income group has picked up two more AMP legacy retirement schemes, onboarding some $285 million to assets under management and about 10,000 clients. In a process completed last month, the Ralph Stewart-headed Lifetime took over as manager of the former AMP Personal Superannuation Scheme and Future Lifestyle Plan products. Stewart said in a… [Read More…]

The Inland Revenue Department (IRD) is rustling up industry feedback on a new mission to bring GST on fund fees back inside the perimeter. In a recent consultation document, the IRD highlights the need to settle “the correct GST treatment” for both fund manager fees and third-party expenses – issues that have evaded regulatory capture… [Read More…]

Funds management has emerged as the biggest money-spinner for the NZ stock exchange, outpacing the next-largest business unit by almost $9 million for the year to September 30. According to the latest NZX statistics, the Smartshares division earned almost $27.5 million for the first nine months of 2023 compared to just over $19 million for… [Read More…]

The Medical Assurance Society (MAS) is making a bid in the retail funds market more than two years after opening up its KiwiSaver scheme to the broader public. MAS has established a suite of seven retail funds that mirror those available in the group’s KiwiSaver scheme, covering five risk-weighted diversified strategies and two stand-alone asset… [Read More…]

Former Trustees Executors (TE) chief operating officer, Geoff Rimmer, is fronting a new trans-Tasman back-office ‘buyers group’ open to NZ KiwiSaver providers and fund managers. Rimmer, who ended a four-year stint at TE this February, said The Fund Alliance had already received indicative support from a number of NZ firms. “I’ve been pleasantly surprised by… [Read More…]