Nikko AM
Nikko AM NZ is solely in the business of investment management. Nikko AM NZ actively manages over NZ$4.5 billion of investments for corporate superannuation schemes, community trusts, charitable trusts, foundations, financial planners, banks, insurance companies, KiwiSaver Schemes, corporations, other fund managers and retail investors through platforms.
We manage domestic assets (equities, fixed interest and cash) through our Auckland-based investment team and employ carefully selected offshore managers to manage global assets (global equities, global bonds and alternative investments).
Key themes and conclusions from the past 10 years
Nikko Asset Management economist Andrew Hunt looks back over the 10 years since the GFC; what we have learnt and what lies ahead for investment markets in 2019.
MORE»Perspective On Markets - It's An Age Thing
In many respects, we tend to view the price of a conventional bond and the price earnings ratio of an equity as being broadly equivalent concepts, in that the bond price in effect is the market price for the payment of a known (fixed) income amount over a usually finite number of years, while a PER is the market’s current valuation of a largely unknown income stream over an unknown time span.
MORE»The Big Risk: The Creditors' Revolt
“If in doubt, add more credit” seems to have become the global mantra or ‘solve all’ policy recommendation for the last 10 – 20 years. Following the 2008 Global Credit Bust, Bernanke et al simply collapsed interest rates poured excess reserves into their banking systems in the hope that the systems would create more credit.
MORE»New PIGS, the CANNS or SNACZ?
There is currently much talk within the financial markets of the ‘new PIGS’, a group of countries which are widely viewed as having inflated property markets and notably elevated levels of debt that are therefore likely to prove vulnerable to the tightening in global (banking system) liquidity trends.
MORE»Italy: A bigger threat than Brexit?
Although Italy possesses a useful and not insignificant visible trade surplus, the country is nevertheless continuing to suffer from persistent and we might suggest remarkably large capital account deficits as its domestic savers by and large continue to shun the local asset markets
MORE»Inflation erodes growth and confuses the outlook
Our starting point for this year was that global growth would be ‘satisfactory’ and that it would once again be led primarily by China’s continuing import boom.
MORE»China's Phantom Slowdown
Economist Andrew Hunt has spent 10-days on the road talking to managers and economists. Here's what he found out about the state of the global economy - and his views on the all important Chinese economy.
MORE»Big questions for 2018
Policymakers and asset prices: an even bigger moral hazard?
When price and value diverge
The economics profession has always struggled to define the notion of value – and not only within the narrow context of the financial markets!
MORE»Note From A Big Country
Perhaps the biggest surprise that emanated from this week’s trip to North America has been the extent to which the topic of secular stagnation has come back onto the agenda, despite all the excitement over the prospect for as yet unfortunately still undefined tax cuts by the Trump Administration.
MORE»The global economy: weak household incomes constrain outlook
Over the last two months or so, we have travelled quite widely and one factor that has stood out during our travels has been the ongoing and seemingly widespread relative weakness in household income trends.
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