Passive managers reject criticism
Passive fund managers have hit back at suggestions that people with money in passive holdings may not understand the level of risk they are taking.
Simon O’Grady, Kiwi Wealth chief investment officer, said passive management was problematic because it had an in-built tendency to buy more and more of the most expensive shares as they rose in value.
“With market conditions becoming increasingly volatile, the risk of a downturn means that passive investors are likely to be carrying higher risk. Of concern is massive inflows of money ...MORE»
NZ shares follow Asia higher; SkyCity falls as fire ragesTuesday, October 22nd, 6:05PM
New Zealand shares were broadly stronger, joining the upbeat mood across Asia. SkyCity Entertainment Group hit a seven-week low as a fire atop the firm's new international convention centre raged throughout the day. MORE» |
Retirement Commissioner: Consider KiwiSpendTuesday, October 22nd, 6:00AM 4 comments
Acting Retirement Commissioner Peter Cordtz is lending support to the idea of KiwiSpend – a Government-administered annuity to help people turn KiwiSaver savings into an income. MORE» |
Mercer questions sustainability of NZ pension scheme
New Zealand’s pension system has been rated B- and placed eighth in the world in a new index, with a warning that it’s not sustainable.
The 2019 Melbourne Mercer Global Pension Index compared 37 retirement systems.
In New Zealand, it looked at the NZ Super, voluntary private pensions and KiwiSaver.
The Netherlands had the highest index value (81.0), and has consistently held first or second position for 10 out of the past 11 MMGPI reports. Thailand had the lowest index value (39.4).
New Zealand rated 70.1.
The report found there ...MORE»
[The Wrap] Millennial investors, KiwiSaver and property investmentSaturday, October 19th, 9:00AM
It was a surprise to see the Retirement Commissioner drop a press release suggesting KiwiSaver should be able to be used to buy investment property. MORE» |
Advisers welcome Aegis saleFriday, October 18th, 6:00AM 1 comment
Advisers are optimistic about the future for Aegis now that ASB has agreed to sell the platform to MMC. MORE» |
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News Bites
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FE Investments gets ratings boost on capital raise
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GoodReturns TV
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Time for changes to KiwiSaver
KiwiSaver has done well in its first 12 years, but David Boyle only gives it a score of 6.5 or 7 out of 10. In this interview with Good Returns TV he discusses changes he would like to see. MORE»
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Advisers should pass level five with few problems: Hill
It’s in insurers’ interests to make sure that advisers are supported through to the new regime, Asteron Life’s executive general manager of distribution, Graeme Hill, says. MORE»
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TMM Online
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Resimac speeds up application process
Non-bank lender Resimac has introduced desktop e-valuations to speed up the approval process for clients and advisers. MORE»
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New income manager at Milford
Milford boosts its income team with a new manager to help run its $2.8 billion Milford Diversified Income Fund. MORE»
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FMA: Time to show what KiwiSaver members get for fees
KiwiSaver providers can expect pressure to show what value they're giving members, after an analysis prepared for the Financial Markets Authority showed they charge higher fees than comparable British funds. MORE»
