Aurora KiwiSaver becomes Hive, adds third-party managers

Aurora KiwiSaver has been rebranded as the Hive KiwiSaver Scheme as part of a wider overhaul that brings new investment managers, funds and digital tools into the adviser-focused offering.

Hive chief executive Sharon Mackay says the change reflects its strategy to build an integrated, advice-led platform combining financial advisers, specialist investment managers and technology.

A key part of the revamp is the addition of three third-party investment managers – Harbour Asset Management, Munro Partners and Pie Funds – alongside incumbent manager Aurora Capital.

Independent ...MORE»

[GRTV] FMA puts AI advice and banks’ return to wealth management under spotlight Monday, July 27th, 8:37AM  1 comment Watch FMA Director of Deposit Taking, Insurance, and Advice Michael Hewes regulating AI-generated financial advice and why banks should consider getting back into the wealth market. MORE»

Sharesies' KiwiSaver still going for growth, reaches break-even on cash flow Friday, July 24th, 6:00AM Sharesies KiwiSaver offering was marginally cash-flow-positive in the year ended March but its general manager says the focus is still on growth and enhancing its products. MORE»

Salt's long-short fund chalked up another strong year

Salt Funds Management’s Salt Long Short Fund had another strong year, earning a $1.3 million performance fee for the year ended March, although that was down from the $1.4 million fee earned the previous year.

Overall, fees from the fund, Salt’s biggest earner, rose to $3.5 million from nearly $2.9 million the previous year.

Salt managing director Matt Goodson says the fund’s performance reflects stock selection, explaining that it doesn’t have any correlation to equity markets but aims to deliver equity-like returns.

Its benchmark is the official cash rate plus 5% and it has “a ...MORE»

Generate's KiwiSaver funds got their turn in the sun in the June quarter Wednesday, July 22nd, 8:03AM It was Generate’s turn to shine in the league of KiwiSaver returns for the June quarter with its balanced, moderate and conservative funds all delivering the best returns in the three months while its growth fund ranked second best. MORE»

Unilaterally changing mortgage arrears payment dates leads to trouble Tuesday, July 21st, 10:50AM When repaying debt, timing can be as important as the repayment amount as one borrower found out when served with a Property Law Act (PLA) notice. MORE»

News Bites

Russell Investments sold

A US consortium is planning to buy Russell Investments. MORE»

GoodReturns TV

[GRTV] FMA puts AI advice and banks’ return to wealth management under spotlight

Watch FMA Director of Deposit Taking, Insurance, and Advice Michael Hewes regulating AI-generated financial advice and why banks should consider getting back into the wealth market. MORE»

The Placebo Effect: Healthcare's Defensive Reputation Under the Microscope

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Fidelity Life offers premium relief to customers affected by flooding

Eligible Fidelity Life customers who are facing financial hardship as a direct result of the recent flooding in Kaikōura and the Waitaki District can apply to have their premiums temporarily waived. MORE»

TMM Online

Pace of interest rate increases not clear cut

OCR increases are inevitable off the back of yesterday’s 4.1% inflation figure, but the pace of the hikes remains uncertain to a degree, Westpac says. MORE»

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New MDRT NZ leaders

MDRT has named its new executives for the next 12 months. MORE»

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Active managers slip down KiwiSaver tables

A number of active KiwiSaver providers have failed to fire in the past year, while passive management has come to the fore. MORE»