Smooth-talking generative artificial intelligence (AI) bots such as the in-vogue ChatGPT model could “revolutionise” the funds management industry, according to Dutch quant investment specialist, Robeco. In a new think-piece, the Robeco human quartet of Clint Howard, Tim Vogel, Thom Marchesini and Mike Chen, argue the rapidly emerging generative AI systems have the potential to augment… [Read More…]
Investment News
Alts in, 60/40 out after the ‘Great Moderation’: BlackRock
A BlackRock survey of institutional investors has found the growing appetite for private markets is dampened only by liquidity concerns. Meanwhile, its strategists warn that the efficacy of the classic 60/40 portfolio is waning. BlackRock’s inaugural private markets surveyed found that 70 per cent of the more than 200 institutional respondents plan on increasing their… [Read More…]
Marks frets banks, real estate after SVB collapse
The meltdown of Silicon Valley Bank is “an early step” towards a more rational market environment, according to Howard Marks, but new problems might arise from bank exposure to commercial real estate. While Oaktree Capital founder Howard Marks doesn’t see the failures of Silicon Valley Bank and other US lenders as bringing on a credit… [Read More…]
Flint chief flips to FNZ
FNZ has poached Flint Wealth chief, Angela Vale, to head the NZ business. Vale, who has headed the challenger fund platform Flint for less than a year, will take pole position at FNZ mid-May, replacing interim chief, Vanessa Oakley. “FNZ confirms the appointment of Angela Vale as new CEO New Zealand,” a company spokesperson said…. [Read More…]
External mandates trend up for NZ Super
The NZ Superannuation Fund (NZS) moved into trend-following and struck a real asset deal with a Dutch pension giant among a dozen new external mandates inked last year. While the $61 billion sovereign wealth fund had previously reported several of its 2022 manager hires, the recently updated NZS mandate list reveals a handful of fresh… [Read More…]
Bagnall PIE tops $100m
The Nicholas Bagnall-run Te Ahumairangi Global Equity Fund has pushed above the $100 million barrier after landing several wholesale clients of late and bringing the boutique’s total assets under management to more than $2.2 billion. Bagnall said the portfolio investment entity (PIE) vehicle, launched in November 2021, secured support from two local fund managers as… [Read More…]
Fisher shifts fee-load for fund-heavy flight
Fisher Funds, aged 25, has a new business angle. The Takapuna-headquartered manager will emerge with a much different profit-driver this financial year after shedding most of its contentious performance fees from July 1. Last year Fisher earned more than $77 million in performance fees or almost 40 per cent of the group’s total revenue for… [Read More…]
Survey finds Kiwis favour compulsion… at a push
Most New Zealanders would accept a compulsory KiwiSaver regime in lieu of higher taxes, a new Otago University study has found. However, the survey shows a slight increase in the anti-compulsion camp compared to a similar exercise carried out in 2014 – albeit with a large majority not bothered either way. “The lack of opposition… [Read More…]
Institutional investors edge benchmarks in non zero-sum game
Active management is worth something after all: 16 basis points per year to be exact. According to institutional investor research house, CEM Benchmarking, the approximately 500 mega funds in its global database have delivered an annual ‘net value add’ (NVA) of 0.16 per cent on average during the last 30 years. But the slim yearly… [Read More…]
IMF stresses growing global instability, NZ housing risks
House price declines could hit the NZ economy harder than most, according to the latest International Monetary Fund (IMF) global financial stability report. The IMF estimates NZ consumption would fall 0.25 per cent for every 1 per cent drop in real house price growth, putting the country in the highest at-risk group headed by Malaysia… [Read More…]