ANZ Investments chief investment officer, Paul Huxford, will leave the business at the end of this year after the country’s largest non-government fund manager revealed new potential arrangements with Mercer and BlackRock. The bank confirmed today that Huxford would end a five-year stint as CIO this December in a move that coincides with ANZ signing… [Read More…]
Investment News
Amplifi completes second advisory firm buy-out
NZ financial services conglomerate, Amplifi Group, has wrapped-up a second advice business acquisition with the purchase of Auckland-based boutique, Prosperity Partners last week. Prosperity will fold into the Amplifi home-brand Sage Wealth Management, launched earlier this year under the leadership of former Hobson Wealth adviser, Aga Krzeczkowska. Trish Lynds, Prosperity founder, remains in a client… [Read More…]
FNZ to take on more direct role in Hatch, Jarden regroups with wealth split looming
An FNZ majority-owned entity is poised to take full operational control of the combined Hatch Invest/Jarden Direct retail stock-trading shop in the first half of next year after shelling out almost $50 million in cash to buy in last August under a deal labelled as a joint venture. According to the latest Jarden financial statements… [Read More…]
Private debt PIEs on shelves in NZ as iPartners vies for wholesale investors
Wholesale alternative asset specialist, iPartners, has hit the NZ market proper with the launch of two portfolio investment entity (PIE) funds offering access to diversified private debt holdings. Thom Bentley, who joined as iPartners first NZ-based employee last September, said two new funds have been seeded by staff with local high net worth investors, in… [Read More…]
Local wraps onboard Betashares NZ funds; TE wins $500m admin gig
Australian exchange-traded fund (ETF) pioneer, Betashares, has kicked off its NZ campaign with full platform coverage after listing five new funds on the Consilium, Adminis, Apex, NZX Wealth Technologies and other adviser-directed services this week. Betashares launched five portfolio investment entity (PIE) products earlier this year that feed into underlying ETFs including the group’s flagship… [Read More…]
Risk-on, fees-down as ANZ fine-tunes investment product set
ANZ has carved off more than .05 per cent on some of its KiwiSaver and retail funds while launching a high-octane growth product targeting diversified risk-takers. In a release last week, ANZ head of funds management, Fiona Mackenzie, said the price cuts, which range from .06 per cent for the balanced and growth options to… [Read More…]
Infrastructure funds build following, diversity in NZ, Russell finds
Listed infrastructure has gained a strong foothold in NZ portfolios, according a new Russell Investments study, with a surge of local-domiciled funds now tapping into that demand. The Russell analysis shows investors have poured at least $900 million into seven NZ-based listed infrastructure funds – five of which have launched within the last three years… [Read More…]
How to hitch a smoother income ride in retirement: NZ actuaries deliver revised rules-of-thumb
Future retirees should plan for a bumpier investment ride featuring more inflation but potentially stronger returns than forecast in 2020 under new guidelines released by a specialist sub-group of the NZ Society of Actuaries last week. In an update to its previous ‘rules of thumb’ drawdown report, the Retirement Income Interest Group (RIIG) incorporates fresh… [Read More…]
Climate promise sees most community trusts on way to lower-carbon portfolios
About half of signatories to a new NZ charitable fund climate-related pledge have started to lower the carbon content of their investment portfolios, according to the group’s inaugural annual report. Launched in December 2021 and featuring 10 of the 12 community trusts as founding signatories, the ‘Funders commitment on climate action’ includes a promise to… [Read More…]
State Street slices ETF prices, opens product portal in Australia
State Street has slashed the price on some its retail-focused US exchange-traded funds (ETFs) by as much as half as the fee wars in the low-cost sector rage on. Under the changes revealed last week, State Street will offer the lowest-price US S&P 500 tracker with annual fees of just 0.02 per cent (down from… [Read More…]