An ASIC report notes the boom in demand for this asset, saying it heightens the need for “better-quality data” about the size of this sector where estimates range between $1.8 billion and $188 billion.
CPA Australia has weighed into the debate about the cost to oversee the industry, adding its voice to those who argue the fee structure favours the larger funds.
Regulator snaffles NZ Super portfolio point man
Paul Gregory
New Zealand Super Fund (NZS) head of portfolio intelligence, Paul Gregory, has resigned to take up the last remaining top executive spot at the recently-restructured financial regulator, the Financial Markets Authority (FMA).
After a six-year career at NZS, Gregory, a former journalist, will commence as director of external communications and investor resources for the FMA on November 23. He takes over the role from incumbent Owen Gill, who ended an extended fixed-term contract with the FMA in October.
It is understood Gill, most notably chief press secretary for former NZ Prime Minister, Helen Clark, from 1992-95, has moved to the UK.
Gregory joined the NZS as head of communications in 2009 before promotion to the investments team in a manager liaison and research role. He was the point of contact for all NZS external managers.
In a statement issued last Friday, the FMA said Gregory “brings significant experience in both communications and the financial sector” serving previously in top-level public relations positions at Macquarie, SkyCity and Westpac.
“Before moving to communications, Gregory was a journalist for 13 years, including being features editor at CAR Magazine in London, and a senior reporter at the NZ Herald among others,” the FMA statement says. “He is also chair of the Children’s Autism Foundation.”
Early in his journalistic career, Gregory also served a long stint with Napier’s now-defunct Daily Telegraph newspaper.
Following his departure, Fiona Mackenzie, NZS head of investments, will assume Gregory’s duties until a replacement is confirmed.
The NZ$28 billion (A$26.4 billion) fund is on a major recruitment drive this year, looking to lock-in 10 new staff as it expands in-house investment capabilities. It is understood the NZS has yet to fill the local equities portfolio manager role vacated by UK import, Daria Murray, earlier this year.
– David Chaplin, Investment News NZ
