• 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 / Milford outs itself as FMA ‘high profile’ target

Milford outs itself as FMA ‘high profile’ target

February 9, 2015

Milford Asset Management is the ‘high-profile’ funds management firm subject to a Financial Markets Authority (FMA) investigation, the company confirmed today.

In a statement, Milford said it is “co-operating fully” with the FMA to clarify the actions of “an individual trader employed by the firm and certain specific trades”.

It is understood the investigation is not centred on month-end fluffing of returns or performance-fee related matters. The trader in questions remains working for Milford.

The Auckland-based firm also recently hired a ‘central dealer’ to co-ordinate the trades of all of its portfolio managers.

Milford manages over $3 billion on behalf of retail, KiwiSaver and institutional investors, including $253 million for the New Zealand Superannuation Fund (NZS).

A spokesperson for NZS said the “Fund has not been contacted by the FMA in regards to this matter”.

“We will be watching the outcome of the investigation closely,” the NZS spokesperson said.

NZS appointed Milford to an active New Zealand equities in 2009.

Late last week rumours emerged that the regulator was investigating a “high-profile” New Zealand funds management firm for alleged market manipulation.

“The investigation does not have any implications for client funds and has no impact on the day-to-day operations of Milford,” the statement said.

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

Read More » Investment News

Recent articles

  • Vale Brian Gaynor May 16, 2022
  • COFI passes second after lukewarm session May 15, 2022
  • Kōura drives for special KiwiSaver niche; Aurora hits $50m May 15, 2022
  • NZ Super tops-up top ranks, buys low as market tanks May 15, 2022
  • Master trusts sink as sector condenses May 15, 2022
  • Holding pattern: custody licensing stalled but not forgotten May 15, 2022
  • Responsible man makes NZ landfall; Magellan tidies up top table May 15, 2022
  • Prescriptive proposals see BlackRock back-track on proxy support May 15, 2022
  • Apostle sees deep green future in NZ May 15, 2022
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

  • Vale Brian Gaynor May 16, 2022
  • COFI passes second after lukewarm session May 15, 2022
  • Kōura drives for special KiwiSaver niche; Aurora hits $50m May 15, 2022
  • NZ Super tops-up top ranks, buys low as market tanks May 15, 2022
  • Master trusts sink as sector condenses May 15, 2022
  • Holding pattern: custody licensing stalled but not forgotten May 15, 2022
  • Responsible man makes NZ landfall; Magellan tidies up top table May 15, 2022
  • Prescriptive proposals see BlackRock back-track on proxy support May 15, 2022
  • Apostle sees deep green future in NZ May 15, 2022
  • No flares but investors need to brace for belt-tightening May 15, 2022

Search by Keyword

Most Recent Investment News

Vale Brian Gaynor

May 16, 2022

COFI passes second after lukewarm session

May 15, 2022

Kōura drives for special KiwiSaver niche; Aurora hits $50m

May 15, 2022

NZ Super tops-up top ranks, buys low as market tanks

May 15, 2022

Master trusts sink as sector condenses

May 15, 2022

Investment News Archive

Most Popular Articles

  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • 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
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • Government dumps five defaults adds two in major overhaul posted on May 14, 2021
  • Kiwi Wealth hits the bigger time posted on November 26, 2017
  • NZ Funds directors back on board posted on April 24, 2016

Sponosored Content

Why timing the market is a fool’s game

An active investment manager’s lockdown toolkit: impacts, learnings and benefits

Mint chief executive, Rebecca Thomas

Join the club: financial wellbeing for women

Ensuring good customer outcomes

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

  • Vale Brian Gaynor May 16, 2022
  • COFI passes second after lukewarm session May 15, 2022
  • Kōura drives for special KiwiSaver niche; Aurora hits $50m May 15, 2022
  • NZ Super tops-up top ranks, buys low as market tanks May 15, 2022
  • Master trusts sink as sector condenses May 15, 2022
  • Holding pattern: custody licensing stalled but not forgotten May 15, 2022
  • Responsible man makes NZ landfall; Magellan tidies up top table May 15, 2022
  • Prescriptive proposals see BlackRock back-track on proxy support May 15, 2022
  • Apostle sees deep green future in NZ May 15, 2022
  • No flares but investors need to brace for belt-tightening May 15, 2022

Footer

Copyright ©2022 InvestmentNews.co.nz — All Rights Reserved — Terms & Conditions