• 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 / Global fixed refit at BT NZ

Global fixed refit at BT NZ

October 8, 2017

Matthew Goldsack: BTNZ head of investment strategy

The Westpac-owned funds management group BT NZ has revamped its $1.6 billion international fixed interest manager line-up dropping all but one of the incumbents while opting for a local-domiciled mandate structure.

According to fund documents lodged last week on Disclose, the BT-managed funds – including the Westpac KiwiSaver and ‘active series’ products – now gain exposure to global fixed income via a BT NZ wholesale fund with three underlying managers: BlueBay Asset Management; Colchester Global Investors; and, Wellington Management Company.

Previously, the BT NZ funds accessed four international fixed interest managers – Standish Mellon, Kapstream, BT Investment Management (Australia), and Wellington – through a fund-of-funds vehicle controlled by Westpac-owned subsidiary, Advance Asset Management.

Newcomers to the BT NZ portfolio, BlueBay and Colchester, both feature in the Russell Investments international fixed interest manager suite.

Matthew Goldsack, BT NZ head of investment strategy, said: “The specialist underlying manager mandates have been designed with a wide degree of allocation flexibility to enable them to take advantage of opportunities in the fixed interest universe and to protect capital in times of market stress.”

As well as rebooting the global fixed structure and manager line-up, BT NZ has also adopted a new bespoke benchmark for the asset class constructed by Bloomberg Barclays.

The Westpac-owned manager previously used the traditional Bloomberg Barclays Global Aggregate index as its international fixed interest baseline metric.

Goldsack said the new benchmark was built to “protect the portfolio from the negative impact of steepening yield curves”.

In addition to the fixed income changes, BT NZ has hired Principal Global Investors as a new international listed property manager. The Iowa-headquartered global asset manager joins local firm, Salt Asset Management, on listed property duties for BT NZ with the latter focusing on Australasian securities.

Principal, which owned BT from 1999 until it sold the funds business to Westpac in 2002, “has significant experience in the management of both property securities portfolios and physical property markets”, the Disclose document says.

In June BT NZ completed an overhaul of its global equities suite, reducing the manager count from seven to five under direct mandates controlled by a new locally-registered investment vehicle.

Following the latest round of changes all BT NZ funds are now channeled via NZ-domiciled wholesale funds.

Print Friendly, PDF & Email
Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
Finished reading? Why not subscribe? To receive a weekly email enter your email address here.

Primary Sidebar

WEEKLY NEWSLETTER

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

Investment News

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
  • Veteran exit triggers NZ Super management rejig April 11, 2021

Search by Keyword

Most Recent Investment News

Salt diversifies with another AMP Capital hire

April 14, 2021

FMA draws hard line under fund fees, softens on KiwiSaver advice costs

April 14, 2021

Passive move activates AMP NZ investment role; double exit at AMP Capital…

April 11, 2021

… as Ms Fixit comes to the rescue at AMP HQ

April 11, 2021

Lifetime deadline set for late April

April 11, 2021

Investment News Archive

Most Popular Articles

  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • NZ Funds directors back on board posted on April 24, 2016
  • Kitset KiwiSaver scheme set to unwrap in spring posted on April 27, 2020
  • Kiwi Wealth hits the bigger time posted on November 26, 2017

Sponosored Content

Responsible goes retail: why Mint has opened the SRI tin

David-Boyle

Jumping lessons: what all investors can learn from GameStop loss

What do ‘Kiwi’ experts see for 2021?

David-Boyle

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

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

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
  • Veteran exit triggers NZ Super management rejig April 11, 2021

Footer

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