Investment News

Equities and bonds are likely to move in the same direction in the near-term bar an economic ‘hard landing’, according to a Mercer study, but diverge again over time if monetary conditions normalise. Following the 2022 shock that saw both shares and bonds slump in tandem to produce the worst combined losses “dating back to… [Read More…]

China has been on a bumpy ride over the last couple of years as offshore investors soured on the world’s second-largest economy. Buffeted by a property market crisis, slowing growth and rising geopolitical tensions, Chinese share indices plunged to decade-long lows at the start of 2024. China stocks have subsequently bounced off the bottom… twice,… [Read More…]

Gold is back. Big time. Huge interest from both retail and institutional investors pushed gold prices to a new record high above US$2,800 in October before easing slightly. During the September quarter, demand for the precious metal tipped about US$100 billion for the first time, according to peak industry body, the World Gold Council (WGC)…. [Read More…]

The Financial Markets Authority (FMA) turned in a more than $2.8 million surplus during the 12 months to June 30 despite spending about $3.5 million above budget. FMA reported revenue of almost $80.7 million over the financial year against the expected $73.4 million on the back of higher interest income, windfall gains from court decisions… [Read More…]

The NZ Superannuation Fund (NZS) fell just shy of its reference portfolio performance for the second year in succession. In line with results reported by the Accident Compensation Corporation (ACC) fund a week earlier, the now almost $80 billion NZS ended just .024 per cent behind its reference portfolio for the 12 months to June… [Read More…]

Discretionary Investment Management Services (DIMS) providers need to up their game on strategic asset allocation and risk controls, according to the inaugural regulatory probe into the somewhat opaque market. The Financial Markets Authority (FMA) debut public report on the sector found almost a quarter of the 49 DIMS providers had not reviewed portfolio strategic asset… [Read More…]

Pathfinder portfolio manager, Hamesh Sharma, died suddenly last week. Following Sharma’s funeral last Thursday in Auckland, Pathfinder said in a statement: “It is with incredible sadness that today we farewelled our colleague and friend, Hamesh Sharma. Both at work and outside of work Hamesh was widely loved and his energy was uplifting. He is so… [Read More…]

Paul Dyer, Accident Compensation Corporation (ACC) fund chief investment officer, signs off next year with an enviable record. After taking the reins from long-time incumbent, Nicholas Bagnall, in 2019 – firstly in an interim capacity – Dyer has seen the fund grow more than 12 per cent to top $50 billion while accruing about $1.7… [Read More…]

US-based global bond manager, Western Asset Management, has seen massive outflows in the wake of legal probes into trading practices revealed earlier this year with more exits likely as authorities circle. According to a Bloomberg report last week, the US Attorney’s Office in New York had grilled a number of other managers including Fidelity Investments… [Read More…]

“Insurance,” according to a 2020 Morningstar report, “is one of life’s necessities that people grudgingly pay for, and investors usually don’t get too excited about the sector, except as an income play.” But Scott Berg, T Rowe Price portfolio manager, has flipped the traditional view of insurance as a low-growth backwater, suitable for value enthusiasts… [Read More…]