Investment News

Fisher Funds has kept on seven Kiwi Wealth investment specialists as the complex integration of the two businesses continues apace. Kiwi Wealth survivors include Daniel Collett, head of portfolio management and Greg Hayton, fixed income portfolio manager but no equities managers have made the Fisher investment team, headed by Ashley Gardyne. The cull has seen… [Read More…]

Trustees Executors (TE) has expanded its custodial capabilities to include individuals after joining the NZX clearing system as a depository participant in a move designed to support a “key client”. Ryan Bessemer, TE chief, said previously the business only provided corporate custody with the NZX clearing accreditation opening up new options for clients offering direct… [Read More…]

NZ financial services conglomerate, Amplifi, has added a new advice business to its fold with the formal launch of wholly owned subsidiary Sage Wealth Management last week. Amplifi, which also owns Mint Asset Management, established the Sage brand last year, hiring Aga Krzeczkowska as senior wealth adviser. Krzeczkowska comes to Sage from Hobson Wealth where… [Read More…]

The government has opened up new draft anti-money laundering (AML) regulations for last-minute tweaks ahead of implementation expected later this year. Following a Ministry of Justice (MOJ) review completed last year, the government has largely signed-off on “regulatory package, [and] the legislative and policy parameters” for new rules poised to impose a raft of extra… [Read More…]

Devon Funds has released an inaugural sustainability report to track the manager’s progress against responsible investment goals. Slade Robertson, Devon managing director, says the planned annual sustainability update will provide “clarity” on the group’s environmental, social and governance (ESG) investment practices as well as internal corporate metrics. “Transparency is something that we strongly encourage in… [Read More…]

NZ has seen retirement savings asset growth outpace most countries over the last decade while hitting pension plan coverage akin to compulsory systems, according to new OECD data. The latest OECD global pension study shows NZ pension fund assets grew at about 15 per cent per annum over the 10 years to the end of… [Read More…]

Shoddy financial advice has cost Australia’s marquee institutions a combined A$4.7 billion in a final remediation bill totted up by the regulator last week. The just-released Australian Securities and Investments Commission (ASIC) figures show the six flagship financial firms collectively coughed-up A$1.1 billion over the last half of 2022, ending years of compensation claims over… [Read More…]

Institutional investors using private equity for diversification are just “doubling up on their main bet”, according to Capital Fund Management, and true diversification will only come through strategies that have fallen out of favour in the last decade. According to Harry Markowitz, the grandfather of modern portfolio theory, diversification “is the only free lunch” in… [Read More…]

Mercer NZ has distanced itself from a ‘greenwashing’ legal stoush that stung the Australian arm of the multi-manager specialist week. In what is likely to serve as a test case for the fund industry on both sides of the Tasman, the Australian Securities and Investments Commission (ASIC) booked Mercer for making allegedly misleading statements in… [Read More…]

Another community trust investment consulting gig is out to tender with the approximately $315 million Otago fund considering applications. Otago currently retains Russell Investments as incumbent under an implemented consulting agreement inked in 2017. It is understood that the Dunedin-headquartered community trust is now short-listing candidates. Community trusts regularly review investment advisory arrangements in a… [Read More…]