News

by Greg Bright From the genesis of universal super in 1986, with the ‘Accord’ between the Hawke-Keating Government and the ACTU, the industry has always been political. The more money in the pot the more political is the daily noise. Right now, with a federal election looming, it doesn’t get much more political than this….

If ever it needed an endorsement of its business strategy, Link Group produced another strong result as its UK acquisition kicked in just at the right time, with regulatory changes starting to impede growth in the core super admin business. The result for the six months to December, announced last Friday, was the first time…

The global financial crisis was not all bad news. Australia and New Zealand, for instance, escaped recession. We may not have had the Royal Commission without it. And it has spawned a whole new industry sub-sector for fund managers – private credit. As regulators around the world introduced tough new requirements on the big banks…

The NZ Stock Exchange has embarked on a restructure of its suite of managed fund vehicles and is streamlining its securities services contract under BNP Paribas in the process. The NZX plans to restructure SuperLife to offer an unlisted product range that mirrors the group’s Smartshares exchange-traded fund (ETF) suite. Hugh Stevens, Smartshares chief executive,…

Warakirri Asset Management has entered the retail market with a new agriculture investment fund which has already been given an “approved” rating by Zenith Investment Partners. The fund has been launched with several family offices and high-net-worth advisory firms. Warakirri, which was launched by John Nolan, founder of JANA Advisors, in 2003, has been investing…

Global consultancy firm Willis Towers Watson (WTW) has won the job of reviewing the NZ Superannuation Fund (NZS) following a short tender process last December. The review has to take place every five years. WTW was appointed last week to run the review – the fourth for NZS – with a final report due by…

Institutional investors are demanding more corporate disclosure on sustainability, remuneration and business strategy to guide proxy-voting decisions, a new global survey has found. In a release, Kiran Vasantham, Morrow Sodali director of investor engagement, said: “This survey provides issuers with valuable insights on investor expectations and voting policies.” Morrow Sodali is an international corporate governance advisory…

Jonathan Armitage, the CIO of MLC, will deliver the keynote address at this year’s AVCJ Private Equity and Venture Forum in Sydney, March 5-7. He has the timeless topic: ‘Global Investing in Turbulent Times: how are we positioning ourselves for the future?’ The Asian Venture Capital Journal reports on a short question and answer discussion…

HESTA executive, investment execution, Rob Fowler, will retire from the fund in July, after about 15 years, resulting in a new role to be created to lead investment operations. When he joined the fund in 2004 he was only its second investment professional. Debby Blakey, HESTA chief executive, paid tribute to Fowler’s contribution for members…

by Greg Bright Just as it did last year with a name change and global expansion statement for its mainstream investment strategies, Pendal Group is now adopting a global leadership position with ESG investing. It will capitalise on a long and important history in the ESG space. The former BT Investment Management last week announced…

The reporting season for ASX-listed companies which has started this month is shaping up as the most intriguing – and important – since the global financial crisis. Will sentiment and noise overshadow fundamental strength? Well known for his published analyses of the reporting by Australian companies and their pre-and-post reporting performance, Reece Birtles, the CIO…

Perennial Value has substantially upgraded its securities services contract with NAB Asset Servicing, while reappointing the custodian following a review. The deal also reflects a growing trend for securities services firms to provide outsourced middle-office services. The manager believes it will get a “capability uplift” through the new arrangement, as well as greater operational efficiencies….