A High Court ruling last week against the NZ Super Funds’ sustainable investment policy is likely to concern KiwiSaver managers.

The court ruled certain parts of the Guardians’ current sustainable investment policy documents do not comply with legislative requirements.

Under the law the NZ Super Fund must invest “in a manner consistent with avoiding prejudice to New Zealand’s reputation as a responsible member of the world community”.

The case, taken by the Palestinian Solidarity Network argued successfully ...MORE»

NZX50 sinks 2.1% this week as inflation creep starts to weigh Friday, April 17th, 7:00PM The a2 Milk Co’s profit warning triggered its worst week since May 2021. MORE»

NZX50 joins ASX200 lower as refinery fire weighs Thursday, April 16th, 7:21PM Ebos came in for some selling ahead of next week’s investor day. MORE»

FMA takes pulse of KiwiSaver private assets

KiwiSaver managers are likely to expand their allocation to private assets in the coming years, the Financial Markets Authority says, but one investment adviser says there should be more demand for it than there is.

The FMA has released a report on private equity in managed funds.

It said while New Zealand managed investment scheme and KiwiSaver funds had relatively low exposure compared to their counterparts in other countries, that was likely to grow.

The regulator surveyed managers who are also managers of KiwiSaver schemes mid last year, asking about their private asset invsetments. Sixteen responded and ...MORE»

Boyle gets dream gig Tuesday, April 14th, 8:11PM  2 comments David Boyle has been appointed as the new Retirement Commissioner takimng over from Jane Wrightson. MORE»

FMA to review CoFI Guidance Friday, April 10th, 8:07AM  11 comments The Financial Markets Authority (FMA) is considering a limited review of the Conduct of Financial Institutions (CoFI) Intermediated Distribution Guidance before the end of this financial year, confirmed FMA director Michael Hewes. MORE»

News Bites

PAA Legacy Trust supports FANZ

Financial Advice New Zealand (FANZ) has entered a long term strategic partnership with the PAA Legacy Trust to support further development of Campus, its adviser-led, professional development hub designed to deepen capability across the financial advice profession. MORE»

GoodReturns TV

Fisher Funds moves to woo advisers back

After years of neglecting the adviser market, the investment manager is going on the charm offensive.   MORE»

Markets intepret OCR review to be on the hawkish side

Financial markets have interpreted the Reserve Bank’s official cash rate (OCR) decision as somewhat more hawkish than expected, pushing the Kiwi dollar higher while wholesale interest rates also rose. MORE»

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FANZ to up the ante against NZ’s soaring medical inflation

Action starts on tackling the rising costs of medical inflation and health insurance premiums. MORE»

TMM Online

Economists at war over OCR forecasts

ANZ suggests the RBNZ will rise three times this year. Kiwibank says "reckless" rate hikes unwarranted. MORE»

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Mercer appoints BDM to work with advisers

Former Smartshares General Manager of Business Development and Distribution joins Mercer.  MORE»

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FMA takes pulse of KiwiSaver private assets

KiwiSaver managers are likely to expand their allocation to private assets in the coming years, the Financial Markets Authority says, but one investment adviser says there should be more demand for it than there is. MORE»