Aussie researcher plants flag in NZ
Australian firm van Eyk Research has entered the New Zealand market for the first time after completing a manager review for AMP Financial Services.
Tuesday, November 17th 2009, 6:36AM
by David Chaplin
A spokesperson for AMP confirmed van Eyk had been hired to carry out a review of managers on the group’s Connect and Premium wrap investment platforms.
However, the AMP spokesperson declined to comment on the scope and findings of the van Eyk review. “We’ll be making an announcement in a couple of weeks,” the spokesperson said.
It is understood the review covered eight New Zealand fund managers, including BT, ING, Tyndall, Tower and Mint Asset Management, listed on the AMP Connect and Premium wrap platforms, which allow AMP-aligned advisers access to a range of in-house and external investment products.
Van Eyk also acts as one of the two preferred research providers to the AMP Financial Planning network in Australia.
The research house claims about half of the independent financial advisory market in Australia where it provides services to advisers on a subscription basis only.
It is understood, van Eyk planned to expand further into the New Zealand market after gaining a foothold here via the AMP manager review.
Chief executive Mark Thomas was unable to comment.
Demand for investment research is expected to increase in New Zealand following the introduction of adviser regulations next year. Currently, Morningstar and FundSource are the dominant fund research providers.
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