The NZX has killed off the short-lived Apteryx brand opting to rename the investment platform NZX Wealth Technologies.
Known as Amadeus Asset Administration from 2011 until July 2014, the Apteryx platform was previously owned by parties associated with hedge fund multi-manager NZAM.
Amadeus originally launched in 2006 under the NZAM Administration label.
However, the NZX bought the platform technology in August last year for $1.5 million rather than the Apteryx corporate entity. Apteryx Limited was renamed LWC Asset Administration last September retaining the same NZAM-associated individuals as shareholders. This April, Paul Baldwin, Apteryx founder and now head of NZX Wealth Technologies, significantly reduced his stake in LWC Asset Management.
NZX Wealth Technologies lists NZX CFO, Bevan Miller, and Mark Peterson, head of markets, as directors.
According to the latest NZX metrics, the platform formerly known as Apteryx contributed $354,000 in revenue to the group over the first quarter of 2016 on funds under administration of more than $1.3 billion.
In total, the NZX funds services business, which includes SuperLife and Smartshares, generated earnings of $3.2 million in the March 2016 quarter, up about 39 per cent year-on-year.
“NZX’s SuperLife and Smartshares businesses both demonstrated pleasing growth over the quarter,” the NZX said in an announcment last week. “Total KiwiSaver Funds Under Management (FUM) surpassed $500 million during Q1 2016 and total funds in Exchange Traded Funds (ETFs) surpassed $1.5 billion, both significant milestones for NZX’s funds management business.”
Excluding a transfer of $33 million from now-shuttered NZX KiwiSaver scheme, Smartkiwi, SuperLife FUM grew just over 20 per cent in the 12 months to March 31, closing the period with just under $1.5 billion.
SuperLife accounted for almost $1.1 billion – or 70 per cent – of the total $1.56 billion invested across the Smartshares range of 23 ETFs.
External Smartshare FUM grew 6.6 per cent over the 12 months ending March 31 to finish the period at $461 million.
The NZX-owned research unit FundSource made no material contribution to the latest group results.