Banks and NZX-listed companies will be granted some minor relief from new climate-reporting obligations under an exemption flagged by the Financial Markets Authority (FMA) this month. The FMA “in principle” agreement to waive the requirement to include new climate statements in annual reports for the two sectors follows a short consultation process over July and… [Read More…]
Investment News
Equal remuneration rights for KiwiSaver members pencilled-in
Employers will face the prospect of personal grievance claims for offering lesser benefits to staff in KiwiSaver schemes under draft legislation tabled in the dying days of the current parliament. But the Employment Relations (Protection for Kiwisaver Members) Amendment Bill, which passed its first reading late in August, still leaves open the prospect for mutually… [Read More…]
Financial services CPD firm returns to market with Dacreed partnership
Another continuing professional development (CPD) player has joined the NZ financial services education market after long-time provider, Dynamique, rebooted previously closed courses in a new format hosted by online learning firm, Dacreed. The 29 Dynamique courses offer CPD modules across multiple industry functions ranging from financial advice provider (FAP) compliance to fund administration, product specialities… [Read More…]
Global pension market dives deeper than GFC in 2022; NZ quick off the blocks
NZ had one of the fastest-growing pension fund markets in the world over the five years to the end of 2022, according to the latest Thinking Ahead Institute (TAI) survey of the global sector. The result, which saw the country run sixth-fastest by growth over the five-year period in US dollar terms, was entirely due… [Read More…]
Water-based fund looks ahead to dry times
La Niña weather conditions over the last couple of years has brought deluge to Australia, soaking large parts of the typically dry country with periodic floods. In October last year, for example, about 1,500 residents in the north-western NSW town of Narrabri were evacuated as the nearby Namoi river breached flood barriers for the second… [Read More…]
Decent but downbeat decade ahead forecast by Northern Trust
Investors are facing a decade of lower growth and subdued returns from traditional asset classes while alternatives are set for a time in the sun, according to the latest Northern Trust long-range outlook. “We forecast a 2.4% real annualized growth rate for the global economy over the next 10 years, an underwhelming expansion relative to… [Read More…]
Vote 4 KiwiSaver: democratised 2023 report finds lower fees, more choice, power plays and downbeat performance
The Investment News NZ annual KiwiSaver report is back on track in 2023 with the 16th edition now available for free download. With total scheme funds under management reaching $93.6 billion as at the March 31 balance date, the retirement savings system ended the torrid 12-month period about 4.3 per cent ahead. But while a… [Read More…]
Losses widen, platform assets surge as FNZ chases ‘global scale’
FNZ booked an operating loss of £267 million (or about NZ$565 million) before tax for the 2022 calendar year on the back of an aggressive acquisition campaign that has seen the platform provider snap up 20 firms over the last four years including six in the latest reporting period. The FNZ global entity annual report,… [Read More…]
Value of advice rises in 2023, Russell finds
Good financial advice could add almost 6 per cent to New Zealanders’ wealth in 2023, according to the latest Russell Investments ‘Value of an adviser’ study. The 2023 edition of the Russell report – the 10th in the global series and the third fashioned for NZ-specific conditions – estimates Kiwi portfolios would be better-off this… [Read More…]
Generate hits double-digits in June as Fisher, Milford move on up KiwiSaver ranks
Auckland KiwiSaver contender, Generate, capped off a good June quarter by registering the only double-digit growth score in the latest Plan for Life (PFL) sector report. Generate added 10.1 per cent to funds under management over the three months to June 30, the PFL survey reveals, gaining ground slightly on rival Kiwi player, Booster (up… [Read More…]