• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / BNZ to put in-house PIEs on investment menu

BNZ to put in-house PIEs on investment menu

July 6, 2015

Donna Nicolof: BNZ head of wealth
Donna Nicolof: BNZ head of wealth

BNZ is considering launching a new range of portfolio investment entity (PIE) products.

Donna Nicolof, BNZ head of wealth, told Investment News NZ (IN NZ) the bank was developing some in-house PIEs to cover a number of asset classes.

However, Nicolof said the PIEs were in early stages and probably wouldn’t be ready for market “until early next year”.

Currently, bank only offers two PIE products: the BNZ Cash and BNZ Term, which collectively manage about $1 billion.

The bank outsources investment management for its $530 million plus KiwiSaver scheme to Russell Investments.

But the bank has had a chequered past with internal investment management, most-recently selling its $2.4 billion in-house funds business to the-then Axa group in 2005. Axa was purchased by AMP in 2011.

However, BNZ parent, the National Australia Bank (NAB), has a vast funds business, with about $160 billion under management and administration, according to its 2014 annual report.

A BNZ spokesperson declined to comment on which asset classes any new PIE products could target or what underlying investment managers might be appointed.

“At this stage we are not launching wholesale asset class pies to market,” the spokesperson said. “However, BNZ is constantly looking at the market and identifying ways to better help our customers increase and protect their wealth.”

 

Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • On the industry play-list: four chart-topping regulations for 2021 January 15, 2021
  • ASB investment veteran among five Jarden hires; van Schaardenberg exits Findex January 10, 2021
  • Wholesale disclosure loophole for $750k under question January 10, 2021
  • Bear marks time for last dance as bubble-pop music sounds January 10, 2021
  • UK competition regulator gaffe keeps GBST in play for FNZ January 10, 2021
  • Russell positive on climate change but negative screening could be a no-no January 10, 2021
  • How the world’s biggest funds coped in 2020; NZ Super tops five-year figures January 10, 2021
  • Managers tipped to double tech spend by 2030 January 10, 2021
  • S&P results highlight nine-year run for NZX; value peeks through as 2020 ends January 10, 2021

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Most Recent Investment News

David-Boyle

On the industry play-list: four chart-topping regulations for 2021

January 15, 2021

ASB investment veteran among five Jarden hires; van Schaardenberg exits Findex

January 10, 2021

Wholesale disclosure loophole for $750k under question

January 10, 2021

Bear marks time for last dance as bubble-pop music sounds

January 10, 2021

UK competition regulator gaffe keeps GBST in play for FNZ

January 10, 2021

Search by Keyword

Investment News

  • On the industry play-list: four chart-topping regulations for 2021 January 15, 2021
  • ASB investment veteran among five Jarden hires; van Schaardenberg exits Findex January 10, 2021
  • Wholesale disclosure loophole for $750k under question January 10, 2021
  • Bear marks time for last dance as bubble-pop music sounds January 10, 2021
  • UK competition regulator gaffe keeps GBST in play for FNZ January 10, 2021
  • Russell positive on climate change but negative screening could be a no-no January 10, 2021
  • How the world’s biggest funds coped in 2020; NZ Super tops five-year figures January 10, 2021
  • Managers tipped to double tech spend by 2030 January 10, 2021
  • S&P results highlight nine-year run for NZX; value peeks through as 2020 ends January 10, 2021
  • Why 2021 shapes as a big year for governance activism January 10, 2021

Investment News Archive

Most Popular Articles

  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • Kitset KiwiSaver scheme set to unwrap in spring posted on April 27, 2020
  • Funds eye bargains, self-shoppers hoard cash, KiwiSavers turn conservative posted on March 15, 2020
  • AMP Capital NZ chief quits amid equities exodus offshore posted on August 28, 2020

Sponosored Content

David-Boyle

On the industry play-list: four chart-topping regulations for 2021

David-Boyle

Charge of the lite (advice) brigade

Nathan Field

Pandemic Baby Boom a Bust

Star-date 2020: it’s inflation Jim but not as we know it

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Secondary Sidebar

Recent News

  • On the industry play-list: four chart-topping regulations for 2021 January 15, 2021
  • ASB investment veteran among five Jarden hires; van Schaardenberg exits Findex January 10, 2021
  • Wholesale disclosure loophole for $750k under question January 10, 2021
  • Bear marks time for last dance as bubble-pop music sounds January 10, 2021
  • UK competition regulator gaffe keeps GBST in play for FNZ January 10, 2021
  • Russell positive on climate change but negative screening could be a no-no January 10, 2021
  • How the world’s biggest funds coped in 2020; NZ Super tops five-year figures January 10, 2021
  • Managers tipped to double tech spend by 2030 January 10, 2021
  • S&P results highlight nine-year run for NZX; value peeks through as 2020 ends January 10, 2021
  • Why 2021 shapes as a big year for governance activism January 10, 2021

Footer

Copyright ©2020 InvestmentNews.co.nz — All Rights Reserved ·— Terms & Conditions