Investment News

The Australian Securities and Investments Commission (ASIC) wrapped up its greenwashing trilogy earlier this month with Active Super copping a A$10.5 million fine and a shellacking from the High Court judge for a defence based on “a host of contrived arguments”. Active Super, previously known as Local Government Super (LGSS), was found in breach of… [Read More…]

Auckland-based Compliance Refinery has switched on a new anti money-laundering (AML) service to bring one of the most-hated regulatory tasks into the artificial intelligence age for NZ financial advisers. The AI-powered Compliance Refinery AML audit system “significantly cuts down the time and expense involved in conducting reviews”, the group says in a release, in an… [Read More…]

ASB has swapped out First Sentier Investors for State Street Global Advisors as underlying cash manager for its KiwiSaver and retail funds in a mandate worth in excess of $1.6 billion. New scheme documents name State Street as cash manager in an actively managed portfolio for the ASB KiwiSaver and other investment funds, replacing long-time… [Read More…]

The Financial Markets Authority (FMA) has earmarked wholesale, crypto, funds administration and custody for closer attention under its re-stated ‘outcomes-focused’ agenda unveiled last week. Among a brief five pages of generously white-spaced text, the post-consultation FMA outcomes-focused paper highlights the regulatory ‘perimeter’ as a “particular area of focus”. “This includes wholesale products and services, custody,… [Read More…]

Active management delivered above-benchmark gains for NZ equity and bond investors on a money-weighted scale over the last 15 years despite the majority of funds in each sector underperforming S&P indices. The first full-fledged S&P Indices Versus Active (SPIVA) Scorecard for the NZ market published last week shows more than 80 per cent of local… [Read More…]

Just four KiwiSaver providers emerged from the first round of climate-related disclosures (CRD) last year with best-practice credentials, according to a first-of-a-kind analysis. The KiwiSaver study carried out by consultancy firm, Mosaic, found four large schemes – including three bank-owned entities – filed the inaugural CRD documents without relying on first-year relief measures. And the… [Read More…]

The local economy has lost its alleged ‘rockstar’ glitz some time ago but a limited comeback tour (small venues only) could be on the cards this year, according to Nikko NZ fixed income portfolio manager, Matthew Johnson. Johnson told delegates at the annual Nikko NZ roadshow in Wellington last week that with inflation “defeated”, mortgage… [Read More…]

Niche Australian fund-rating house, SQM Research, has put the entire private credit sector ‘on watch’ amid regulatory concerns and simmering risks that could see a number of product downgrades this year. In a statement last week, the research house called out a long list of “issues” seen with “increasing frequency” in the fast-growing private credit… [Read More…]

Alternatives come in two distinct states: liquid and illiquid. But don’t mix them up; don’t mistake one for the other, according to Janus Henderson head of diversified alternatives, David Elms. Elms, also co portfolio manager of the Janus Henderson Global Multi-Strategy Fund, said while both private and public market alternatives offer legitimate diversification benefits, investors… [Read More…]

Global regulators are racing to stay ahead of fast-developing artificial intelligence (AI) technology as it seeps into financial markets, according to a new report, with innovative tools likely needed to combat novel risks. The International Organization of Securities Commissions (IOSCO) study says that just four years after its first take on the tech “it is… [Read More…]