The NZ Superannuation Fund has slightly lifted both long-term outperformance and risk expectations in its latest ‘reference portfolio’ review while removing an explicit emerging markets benchmark from the process.
Northern Trust has won another passive global equities gig with a bank-owned KiwiSaver fund following a mandate reshuffle at the Westpac scheme in New Zealand. Australia’s Ninety One was also a winner in the reshuffle. Along with several other changes, Northern Trust picked up a spot among six managers on the Westpac/BT international equities panel,…
Legendary investor Jeremy Grantham has called bubble on the longest bull market in history. In a searing client newsletter, ‘Waiting for the Last Dance’, Grantham says current market conditions that feature “extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior” bear all the hallmarks of a last-gasp bubble expansion. The founder of…
Almost all global pension investors expect post-COVID financial markets to follow a ‘W’ path or play an accordion-like tune, a new survey has found. Whatever the shape of the future, it will not be smooth. The study, by UK-based research firm Create, shows almost half of the respondents projected a W-shaped recovery ahead while 36…
NZ-based FNZ, the financial software firm run out of London, will have to offload its $260 million-plus Australian software asset within months after the UK competition regulator smothered the deal in a final ruling last week. In a decision handed down on Thursday, November 5, the Competition and Markets Authority (CMA) ordered FNZ to sell…
by David Chaplin The almost NZ$50 billion (A$46.7 billion) NZ Superannuation Fund has made several changes to its manager line-up and asset allocation over the last year including taking a $1.6 billion bond portfolio in-house. Northern Trust and BlackRock were the biggest losers. According to the NZ Super annual report released last week (October 21),…
Another investment platform is due to arrive in NZ within weeks under the ‘Flint Wealth’ brand. It is an equal partnership between Brisbane-based Research IP, run by well-known Australian advisory market identity Darren Howlin, and NZ’s Harbour Asset Management and Trustee Executors.
