State Street Associates, the academic research arm of the big custodian bank and fund manager, has published two studies on the behaviour of sovereign wealth funds with asset allocation and their thinking behind a shift towards private markets. The asset allocation study shows a big move towards alternatives and unlisted investments and increased exposure to…
by Greg Bright As the debate about divestment of certain stocks bubbles along among fund managers and their institutional clients, often concerning whether returns may be impacted by a divestment program, at least one manager is looking to New Zealand to provide cleaner substitutes for its energy exposure in Aussie equities. Martin Currie Australia, an…
Reflation has arrived along with broad economic recovery globally but consensus views on the outlook remain too cautious, according to BlackRock. Animal spirits are returning to the markets. The consensus numbers are further from BlackRock’s ‘Macro GPS’ forecasting model, which incorporates big data signals, than at any time since 2013, the BlackRock Investment Institute says…
Hedge fund returns recovered last calendar year after a troublesome 2015 which caused global outflows of an estimated $US83 billion. The aggregate return across hedge fund strategies for 2016 was 5.34 per cent, according to the annual performance report by eVestment. The best performing strategy globally was ‘distressed’, which had lagged most of the others…
by David Chaplin Mercer will take charge on March 1 of the NZ$270 million (A$256 million) New Plymouth District Council portfolio previously managed by in-house entity, Taranaki Investment Management Limited (TIML), after a competitive tender. In a statement, the New Plymouth Council has confirmed Mercer is the winner of New Zealand’s last major wholesale mandate…
More than 250 asset owners, managers and other alternatives industry participants are expected at this year’s AVCJ Private Equity & Venture Forum in Sydney in early March. The line up of asset owners to speak at the 14th annual event, March 1-3, includes: Steve Byrom, head of private equity at the Future Fund; Adrian Kerley,…
MainstreamBPO, the listed third-party fund administrator, has continued its global expansion through the opening of an office in the Cayman Islands following the receipt of regulatory approvals. The Cayman Islands represent a popular domicile for alternatives funds – both institutional and wholesale – which should expand the company’s potential client universe. The new office follows…
Implemented Investment Solutions (IIS), headquartered in Wellington, New Zealand, has launched a new online investment platform aimed at the growing direct market in that country. IIS managing director, Anthony Edmonds, said the InvestNow service would start with a range of products in addition to the Russell Investments funds the firm already markets. “Initially, we were…
By Greg Bright Mercer will retrench up to 50 staff in Australia and New Zealand as part of a restructure which got underway before Christmas. Positions are being made redundant across a number of divisions, mostly in Melbourne and Sydney, including superannuation administration and sales. While the move follows similar head-count and other cost reductions…
Agecroft Partners, an influential global hedge fund advisory firm, is predicting more institutional outflows and fee pressure on the hedge fund industry for 2017. But total assets will grow due to non-institututional support and increased alpha. This is Agecroft’s eighth annual forecast for hedge funds. By Don Steinbrugge* Each year, Agecroft Partners predicts the top…
