Investment News

FNZ faces a temporary ban from taking on certain new clients in the UK without written consent from the Financial Conduct Authority, according to press reports, signalling a step-change in regulatory oversight of platforms in the jurisdiction. The Citywire New Model Adviser report says the FCA issued a notice effective October 11 this year requiring… [Read More…]

The Australian superannuation regulator has uncovered widespread liquidity management failings in the sector, especially in the treatment of unlisted assets. Following a recent review of 23 regulated superannuation entities representing 80 per cent of assets under its purview, the Australian Prudential Regulation Authority (APRA) found 12 required “material improvements in either or both their valuation governance… [Read More…]

US private equity player, TA Associates, has taken a ‘strategic’ 50 per cent stake in Craigs Investment Partners in a deal announced this morning. “Under the agreement, Craigs’ existing employee and director shareholders will retain 50 percent ownership of the Firm, partnering closely with TA,” according to a release. “… The agreement remains subject to certain… [Read More…]

Australian fixed income manager, Coolabah Capital, has landed a US$1.1 billion global mandate with Russell Investments. In a statement, Russell said it had appointed Coolabah as a new underlying manager for its flagship Global Bond Fund as part of “an ongoing effort to ensure the Fund is exposed to the best ideas from our portfolio… [Read More…]

The Financial Markets Authority (FMA) has toned-down its ‘outcomes-focused’ policies following largely negative industry feedback to draft proposals and pressure from a newly installed government. According to documents obtained under an Official Information Act (OIA) request, Commerce Minister Andrew Bayly queried the outcomes-focused regulation approach mooted in a FMA draft guide last November. Bayly was… [Read More…]

Francois Richeboeuf has resigned from BT Funds Management after almost 15 years at the Westpac-owned investment house to take an asset allocation role at the NZ Superannuation Fund (NZS). Currently BT senior manager investment solutions, Richeboeuf joined BT in 2010 as a portfolio manager for the group’s diversified funds. He officially exits the Westpac funds… [Read More…]

KiwiSaver schemes would be able hang on to some member assets well past current transfer deadlines while the number of funds captured by climate-reporting rules could halve under proposals tabled by the government last week. In draft changes first hinted at by Commerce Minister Andrew Bayly late last year, KiwiSaver schemes would have discretion to… [Read More…]

The NZX-owned investment platform, Wealth Technologies, has pushed through $16 billion in funds under administration in an end-of-year flurry that saw five advisory firms clamber aboard. In a release, the stock exchange investment admin play revealed four other advice operations were primed to transition early in 2025 “from a variety of platforms” including the Christchurch-based… [Read More…]

The Inland Revenue Department (IRD) has put NZ cryptocurrency traders on notice after an information-gathering sweep uncovered transactions valued at almost $8 billion. In a release, IRD significant enterprises segment lead, Tony Morris, said the tax department found 227,000 crypto-users in NZ had completed about 7 million transactions valued at $7.8 billion. Crypto profits are… [Read More…]

Vanguard has signalled a strategic tilt towards more directly controlled advice and distribution after flagging the launch of a new division last week headed by former Fidelity head of personal investing, Joanna Rotenberg. The passive investment giant already oversees about US$900 billion through a range of advisory options in several jurisdictions from a robo-service through… [Read More…]