Investment News

Keri Jenkins, head of investments for the Wealthpoint advisory network, is set to leave the business later this year after joining the group from Fonterra in 2020. According to a Wealthpoint spokesperson, Jenkins would likely finish up in June “to focus on growing a business she owns outside of the financial services industry”. She “played… [Read More…]

Pie Funds KiwiSaver and the InvestNow investment label, Foundation Series, have put higher-risk funds on the menu in line with a recent industry-wide trend. Ana-Marie Lockyer, Pie chief, said the under-construction Aggressive Fund comes on the back of strong demand from members. “It is something our members have asked for and we believe that, for… [Read More…]

The ‘eligible investor’ test case sought by the Financial Markets Authority (FMA) has been slated for May 1 this year in a High Court hearing set to draw the attention of the wholesale funds sector. Margot Gatland, FMA head of enforcement, confirmed the court date in the latest regulatory update, noting the action would clarify… [Read More…]

The Australian financial regulator has red-flagged private markets for closer scrutiny after admitting it has limited look-through to the fast-growing asset class. In a new discussion paper published last week, the Australian Securities and Investments (ASIC) chair, Joe Longo, called out the private markets sector as a critical regulatory blind-spot. “We note our international peer… [Read More…]

The great NZ intergenerational wealth transfer will likely amount to about $1.6 trillion between now and 2050 against the backdrop of an aging population and slower growth, a new philanthropic sector report estimates. Some $27 billion passed on as inheritances in the country last year, the JBWere-produced inaugural ‘Bequest Report’ says, but the annual generational… [Read More…]

Hedge funds could operate as fixed income proxies amid a bumpy global monetary policy descent to ‘normal’ altitude, according to Mercer. In a new paper outlining five strategies for ‘financial intermediaries’ as volatility mounts, Mercer highlights hedge funds as “one of the few areas with foreseeable tailwinds, unique diversification benefits and independence from the stock–bond… [Read More…]

A new study by Australian asset consultant, Frontier Advisors, found global equity active managers turned in their worst index-relative performance in more than 20 years as a handful of stocks dominated markets. Only 36 per cent of active international share managers in the Frontier sample beat the benchmark MSCI All Country World Index (MSCI ACWI)… [Read More…]

The Auckland Future Fund (AFF) has hired Mapua Wealth as an independent investment adviser as the $1.3 billion council-owned vehicle rolls out a new search for underlying managers. In a statement, AFF chair, Christopher Swasbrook, said the embryonic perpetual fund has contracted Mapua – formerly known as MyFiduciary – for one year while it allocates… [Read More…]

ANZ has revamped its investment philosophy with a new emphasis on ‘flexibility’ over active management while establishing a stand-alone emerging markets equity allocation. In a revised KiwiSaver statement of investment policy and objectives (SIPO) published last week, the country’s largest retail fund manager dropped an explicit reference to an active management style preference. “There are… [Read More…]

Harbour Asset Management has rolled out a second portfolio investment entity (PIE) fund under the Hunter banner in a strategy plying the Australasian private credit markets. The launch of the Hunter Private Credit Fund comes amid growing demand – and competition – in the asset class both globally and in NZ. In a statement, Harbour… [Read More…]