Investment News

Private debt offers some attractive recession-proof features but investors need to take care with more rigorous “downside analysis”, according to a new Schroders Capital analysis. The Schroders paper says the floating rate nature of most private debt agreements shields investors from interest rate risks but with a potential recession looming, assessing loan quality based on… [Read More…]

Ryan Bessemer is to step down as chief of Trustees Executors (TE) after a five-year turn at the top of the licensed supervisor and funds administration group. According to a TE statement, Bessemer will finish his shift in November. He replaced Rob Russell at the helm in 2018 following a long period of instability in… [Read More…]

Investment consulting firm, MyFiduciary, has sold down a quarter of the business to the owner of Māori financial services firm, IWIinvestor, in a unique joint venture arrangement. MyFiduciary told clients yesterday in a note that “Tupu Angitu, the commercial arm of the Lake Taupō Forest Trust” had taken a 25 per cent shareholding in the… [Read More…]

The NZ Financial Services Council (FSC) has scheduled a joint summit with its Australian counterpart next March in the first formal shared event for the two industry organisations. Richard Klipin, FSC NZ chief, said the inaugural trans-Tasman symposium would target “business leaders and teams” from the membership of both organisations to discuss common issues. “Financial… [Read More…]

Parliament has cleared the way for the NZ Superannuation Fund (NZS) to take outright ownership of companies after a committee rubber-stamped the enabling legislation. In a final report on the New Zealand Superannuation and Retirement Income (Controlling Interests) Amendment Bill published last week, the Finance and Expenditure Committee (FEC) approved the proposed law as is…. [Read More…]

The ASX-listed Magellan has rearranged top investment and distribution roles and appointed a funds veteran as chair in a bid to draw a line under its recent troubles. Along with annual results released last week, Magellan announced CEO David George would relinquish his dual chief investment officer duties in favour of deputy, Gerald Stack. Stack… [Read More…]

Australasian fund researcher, ResearchIP, has lost its sole NZ-based employee after consultant, Andy Mahony, took up a responsible investment role with ANZ earlier this month. Mahony joined ResearchIP in November 2020 as the company sought to ramp up coverage of the NZ funds market. Founded by the Queensland-based, Darren Howlin, ResearchIP has a long association… [Read More…]

Property has spiked higher as a share of NZ household wealth this century, swamping financial assets despite the rise of KiwiSaver, a new global report reveals. The 2023 UBS Global Wealth Report shows the proportion of NZ personal wealth held in financial assets slumped from 65.5 per cent in 2000 to 51.4 per cent at… [Read More…]

The National Provident Fund (NPF) has reported a $40 million loss over the 12 months to March 31 with assets under management falling more than 2 per cent to almost $1.7 billion. According to the just-published NPF annual report for the 2022/23 period, the funds managed by Annuitas in the Global Asset Trust (GAT) saw… [Read More…]

Brandywine Global investment director, Richard Rauch, suffered a case of the bond blues in 2020 as the COVID pandemic pushed already historically low interest rates to zero and below, “With fees higher than yields, I didn’t know whether I should stay in fixed income,” Rauch said. But after the near-death experience, his loyalty to the… [Read More…]