Investment News

Financial research and data firm, Refinitiv, has added to the already well-stacked pile of active-vs-passive literature with a new study showing just 20 per cent of actively managed global equity funds outperformed over the 10 years to the end of 2022. According to the Refinitiv analysis, only 203 of the 1,099 international equity funds captured… [Read More…]

Amid growing doom-and-gloom reports on the state of the commercial property market, US-headquartered listed real assets specialist, Cohen & Steers is looking on the bright side. In a recent presentation, Rich Hill, Cohen & Steers, head of real estate strategy and research, said the listed real estate market is poised for a turnaround with interest… [Read More…]

The government signed-off on new regulations under the Financial Markets Conduct (Conduct of Institutions) Amendment Act last week that will ban certain volume-based incentives. But the rules for the legislation also known as COFI include carve-outs for financial advice providers and wholesale client-related services. According to the just-approved regulations, any incentives paid for “relevant services… [Read More…]

Former Smartshares chief, Hugh Stevens, has resurfaced as deputy chair of the Government Superannuation Fund (GSF) board. Stevens resigned from Smartshares this January, finishing a five-year term heading the now $10 billion plus NZX-owned funds management firm at the end of March. He replaces Alison O’Connell who left the GSF board in April after first… [Read More…]

The NZ managed funds sector continued to recover in the March quarter, falling just shy of the historical peak set at the end of 2021, according to new Reserve Bank of NZ (RBNZ) figures. “Total funds under management increased 5.1% to $262.9b for the quarter ending 31st March ’23, but still remains below the record… [Read More…]

Almost all NZ active fund managers underperformed the NZX20 (including imputations) benchmark over the last 10 years, according to a recent S&P Dow Jones Indices (S&P DJI) analysis, while about half fared better against Australasian benchmarks for the same period. Anu Ganti, S&P DJI index investment strategy senior director, showcased the findings in a recent… [Read More…]

Parliament has inched closer to overturning a long-held investment constraint for the NZ Superannuation Fund (NZS) after kicking off committee stage hearings on a proposed law. In a brief Finance and Expenditure Committee (FEC) appearance late last month, NZS chief, Matt Whineray, backed a move to allow the $60 billion plus sovereign wealth fund to… [Read More…]

Bentham Asset Management has adopted a defensive stance as both inflation and rates appear to have peaked, according to deputy chief investment officer, Nik Persic. Persic said the Australia-based fixed income manager has increased duration, improved credit quality and topped up cash holdings in its portfolios ahead of an anticipated economic downturn. He said the… [Read More…]

Inverse ESG funds saw assets under management soar by about 800 per cent over the six months to the end of March this year, according to a new Morningstar report, albeit from a low base and distorted by a US$1 billion reverse road-to-Damascus moment. Authored by Morningstar sustainability researchers, Alyssa Stankiewicz and Mahi Roy, the… [Read More…]

Only financial advice margins have held up over the last five years as fee and cost pressures squeezed profits across the investment industry, a joint study by FNZ and the Boston Consulting Group (BCG) has found. According to the report, margins for providing advice remained steady at 0.72 per cent from 2017 to the end… [Read More…]