• 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 / Southland community trust hires new investment adviser

Southland community trust hires new investment adviser

March 6, 2016

John Prendergast: Community Trust of Southland chief
John Prendergast: Community Trust of Southland chief

The $200 million plus Community Trust of Southland (CTOS) has dumped its long-time investment consultant.

Industry sources told Investment News NZ (IN NZ) that CTOS hired Aon Hewitt as its new investment adviser, replacing MCA, the Michael Chamberlain-headed consultancy firm that had filled the role for more than a decade.

The move represents a rare change of guard in the community trust world where investment advisory relationships tend to be tightly-held.

John Prendergast, CTOS chief, was unavailable for comment prior to IN NZ deadline.

However, Guy Fisher, Aon investment consultant, confirmed the group would assume the CTOS advisory duties as at April this year.

“We are really pleased to be awarded this mandate. It was a very competitive and thorough selection process and we see the trustees’ decision to appoint Aon Hewitt as an endorsement of our capabilities and our commitment to this sector,” Fisher said.

“We are looking forward to working with the trustees to ensure that the Trust’s investment assets are best managed for the long-term benefit of the Southland community.”

As at March 31 last year, CTOS reported total net assets of $201 million, the bulk of which was invested in managed funds. According to the latest accounts, the community trust invests via six underlying managers, covering: a roughly $100 million Australasian and global shares mandate with Auckland-based Elevation Capital; an almost $50 million NZ fixed/unlisted unit trust investment via Nikko Asset Management, and; just over $40 million in global bonds with PIMCO.

CTOS also reported investments of $910,000 in private equity, managed by Direct Capital, a $720,000 Australasian equities mandate with Pioneer Capital, and a minor cash holding with First NZ Capital.

While CTOS implemented a manager change in 2014 – axing equity managers AMP Capital, Capital International and Franklin Templeton as Elevation and Pioneer were appointed – the hiring of a new consultant typically heralds a review of underlying managers.

Aon’s appointment marks its first consultancy gig in the approximately $3 billion community trust space. MCA also acts as investment consultant for the $160 million Eastern and Central Community Trust and the $52 million Mid & South Canterbury Community Trust.

Other investment advisers currently employed by one or more of the 12 community trusts include Russell, Melville Jessup Weaver, Craigs Investment Partners, Jana, Mercer, and Cambridge Associates.

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

Read More » Investment News

Recent articles

  • KiwiWRAP lays down investment backing tracks January 24, 2021
  • Government to set eyes on PIEs as tax hike bites January 24, 2021
  • Venture fund hires short-term chief, refits board January 24, 2021
  • MJW finds KiwiSaver manager choice matters more at riskier end… January 24, 2021
  • … as weight gain spread among mid-level schemes January 24, 2021
  • NZX admin unit confirms old client for new platform January 24, 2021
  • NZ Super adjusts dials on reference portfolio as risk-return gauge edges up January 24, 2021
  • State Street wins Perpetual custody job January 24, 2021
  • New future-facing FAP compliance firm fronts up January 24, 2021

Primary Sidebar

WEEKLY NEWSLETTER

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

Most Recent Investment News

KiwiWRAP lays down investment backing tracks

January 24, 2021

Government to set eyes on PIEs as tax hike bites

January 24, 2021

Venture fund hires short-term chief, refits board

January 24, 2021

MJW finds KiwiSaver manager choice matters more at riskier end…

January 24, 2021

… as weight gain spread among mid-level schemes

January 24, 2021

Search by Keyword

Investment News

  • KiwiWRAP lays down investment backing tracks January 24, 2021
  • Government to set eyes on PIEs as tax hike bites January 24, 2021
  • Venture fund hires short-term chief, refits board January 24, 2021
  • MJW finds KiwiSaver manager choice matters more at riskier end… January 24, 2021
  • … as weight gain spread among mid-level schemes January 24, 2021
  • NZX admin unit confirms old client for new platform January 24, 2021
  • NZ Super adjusts dials on reference portfolio as risk-return gauge edges up January 24, 2021
  • State Street wins Perpetual custody job January 24, 2021
  • New future-facing FAP compliance firm fronts up January 24, 2021
  • How to fit ESG processes into UN’s sustainability goals January 24, 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
  • 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
  • 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

  • KiwiWRAP lays down investment backing tracks January 24, 2021
  • Government to set eyes on PIEs as tax hike bites January 24, 2021
  • Venture fund hires short-term chief, refits board January 24, 2021
  • MJW finds KiwiSaver manager choice matters more at riskier end… January 24, 2021
  • … as weight gain spread among mid-level schemes January 24, 2021
  • NZX admin unit confirms old client for new platform January 24, 2021
  • NZ Super adjusts dials on reference portfolio as risk-return gauge edges up January 24, 2021
  • State Street wins Perpetual custody job January 24, 2021
  • New future-facing FAP compliance firm fronts up January 24, 2021
  • How to fit ESG processes into UN’s sustainability goals January 24, 2021

Footer

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