Investment News

Nikko Asset Management has refreshed its board following the departure of managing director, George Carter, at the end of March after more than seven years in charge. Carter formally relinquished his board seat as at April 1 with Nikko global chief risk officer, Ryu Kiyotaka, also stepping down as director of the NZ entity on… [Read More…]

Prospective Sharesies cash product investors would likely be covered by the impending deposit guarantee scheme despite all assets to be outsourced in a single account. According to a spokesperson for the group, client cash would be held in a “bare trust in the name of Sharesies Nominee Limited” via an as-yet unnamed AA- rated NZ… [Read More…]

Free money is an ancient practice that has never ended well, according to MFS global investment strategist, Robert Almeida. In a recent investment note, Almeida debunks claims “about the uniqueness of Modern Monetary Theory and quantitative easing” that have circulated post the GFC. “The reality is that they are neither unique nor modern. They are… [Read More…]

Hedge fund manager, Bridgewater, has warned Western economies remain well out of kilter with some painful re-weightings ahead to restore balance. In a new paper, Bridgewater says the three main economic metrics of spending, debt and risk premium have strayed far from their respective counterpoints of capacity, income growth and historical return above cash in… [Read More…]

The biggest NZ funds management administration gig could be up for grabs with the $33 billion ANZ Investments understood to be exploring outsourcing options. ANZ is the last of the big bank-owned investment operations in NZ to retain almost full in-house control of funds administration including registry, accounting and custody. However, the bank is poised… [Read More…]

“So the last shall be first, and the first last,” saidith the Lord, according to Matthew 20:16 and, almost, Mercer 2022. In fact, the best-performing asset class in the latest edition of the long-running Mercer NZ ‘Periodic Table of investment returns’ is both first and last. “The leading asset class in 2022 was Commodities (+15.3%),… [Read More…]

Former Trustees Executors (TE) chief executive, Rob Russell, has emerged a surprise chair of the firm he used to run. Russell departed TE in 2018 after 12 years at the helm of the Wellington-headquartered licensed supervisor and investment administration business but returned as director this February. His appointment came ahead of the resignation from the… [Read More…]

Funds management held top spot in the NZX revenue rankings over the March quarter as the QuayStreet-enhanced Smartshares delivered almost $8 million to the business. The $7.97 million quarterly Smartshares income, which includes contributions from recent acquisitions ASB superannuation master trust and QuayStreet (from February), represents a year-on-year increase of more than 45 per cent… [Read More…]

AMP NZ reported a slight bump in assets under management (AUM) during the first quarter of 2023 as net positive KiwiSaver flows and kind markets saved the day. The NZ wealth management AMP offshoot saw total AUM rise A$200 million over the three months to the end of March to hit A$10.7 billion despite offloading… [Read More…]

The tiny, adaptable Cook Islands National Superannuation Fund (CINSF) might be something of a role model for larger counterparts in Australasia on issues like retirement. And Pacific funds are also working on their own collaborative approach to investing in the region. “It’s different,” says David Brown, CIO of the Cook Island National Superannuation Fund (CINSF),… [Read More…]