Investment News NZ

Russell sells again

David Chaplin — Thu, 09 Jul 2026 23:03:05 +0000

More than 10 years after the London Stock Exchange (LSE) offloaded the seminal multi-manager outfit to a pair of US private equity managers, Russell Investments has been sold one more time for a reported US$2.8 billion. In a release to clients this morning, Russell confirmed the sale to an “investor consortium led by B Capital, a... [Read More...]

The post Russell sells again appeared first on Investment News NZ.

3-2-?: Fisher KiwiSaver consolidation countdown begins

David Chaplin — Sun, 05 Jul 2026 10:00:39 +0000

Fisher Funds has officially merged two of its three KiwiSaver schemes after shutting down the former Tower product last month. According to the latest Fisher Two KiwiSaver financial statements, the scheme wound up in June with all assets transferred to the Fisher KiwiSaver Plan (the ex Kiwi Wealth vehicle). Post transition, the Fisher KiwiSaver Plan... [Read More...]

The post 3-2-?: Fisher KiwiSaver consolidation countdown begins appeared first on Investment News NZ.

MJW welcomes home new investment consultant; Alvarium loses CIO back to Milford

David Chaplin — Sun, 05 Jul 2026 09:59:47 +0000

Former Melville Jessup Weaver (MJW) actuary, Tyler Bond, has returned to the fold following a two-year foray as a senior quant analyst at the UK arm of US wealth management giant, Raymond James. Bond rejoins MJW in an investment consultant role, working alongside principal, Ben Trollip, and William Nelson. Trollip said in a release that... [Read More...]

The post MJW welcomes home new investment consultant; Alvarium loses CIO back to Milford appeared first on Investment News NZ.

FNZ restacks board; staff-shareholders claim morale decline

David Chaplin — Sun, 05 Jul 2026 09:59:26 +0000

More than a third of the FNZ board has departed in a governance overhaul that saw two new directors associated with the firms’s main shareholder step into the breach. Under the board clear-out, five of the-then 14 FNZ Group directors resigned in June with the two newcomers, Denis Turcotte and Justin Shaw, also sitting as... [Read More...]

The post FNZ restacks board; staff-shareholders claim morale decline appeared first on Investment News NZ.

FMA on the trail of commissions, fees and… admin

David Chaplin — Sun, 05 Jul 2026 09:59:04 +0000

The Financial Markets Authority (FMA) will conduct fact-finding missions not witch-hunts this year in forays ranging from the regulatory frontline to beyond the frontier. KiwiSaver, for instance, is front-and-centre for the regulator over the 2026/27 reporting year with both adviser trail commissions and provider fees to face closer scrutiny, according to the second annual FMA... [Read More...]

The post FMA on the trail of commissions, fees and… admin appeared first on Investment News NZ.

NZ Super projects higher costs, fewer employees

David Chaplin — Sun, 05 Jul 2026 09:58:16 +0000

Despite a pared-down staff budget, the relative cost of running the NZ Superannuation Fund (NZS) is set to increase by .05 per cent this financial year. According to a ‘statement of performance expectations’ for the 2026/27 reporting period, total NZS expenses would increase more than $60 million year-on-year to reach $262.4 million, equating to 0.28... [Read More...]

The post NZ Super projects higher costs, fewer employees appeared first on Investment News NZ.

Craigs new buy tees up asset transfer; Smart ETF hits 30; Harbour multi-manager goes live; RIIA reshuffles responsible list

David Chaplin — Sun, 05 Jul 2026 09:57:51 +0000

Christchurch-based wealth management firm, Hamilton Hindin Greene (HHG) has slated a trading freeze on client assets from early August ahead of its transition to the Craigs Investment Partners family. In a note to clients, HHG advised a managed fund trade halt would come into effect on August 7 and for direct shares and bonds the... [Read More...]

The post Craigs new buy tees up asset transfer; Smart ETF hits 30; Harbour multi-manager goes live; RIIA reshuffles responsible list appeared first on Investment News NZ.

The new fees squeeze: fund price pressures of the mid-2020s

David Chaplin — Sun, 05 Jul 2026 09:57:24 +0000

Fee competition in asset management have shifted in ways that many investors have not yet fully appreciated. A new report from bfinance documents a fresh wave of price reduction sweeping through active asset management. The drivers look markedly different from the last major compression cycle of the 2010s and investors who rely on outdated benchmarking... [Read More...]

The post The new fees squeeze: fund price pressures of the mid-2020s appeared first on Investment News NZ.

Asset managers road-test AI but won’t let it drive (yet)

David Chaplin — Sun, 05 Jul 2026 09:56:52 +0000

About three-quarters of fund management firms are using artificial intelligence (AI) tools to turbo-charge “operational efficiency” but most won’t give the robots full control of the investment vehicle, according to a new global survey. The Mercer poll of 131 asset managers across the world found 73 per cent of respondents use AI to streamline operations... [Read More...]

The post Asset managers road-test AI but won’t let it drive (yet) appeared first on Investment News NZ.

ASIC slams platforms over loose advice fees; Mercer Australia cops A$10.3m fine

David Chaplin — Sun, 05 Jul 2026 09:56:28 +0000

The fees-for-no-service issue has come back to haunt the Australian financial services sector after a regulatory probe into platform-based superannuation schemes. In a report published last week, the Australian regulator summoned the ghost of the infamous 2018 Royal Commission into financial services with a call-out of dubious advice fee structures embedded in platform-style super funds.... [Read More...]

The post ASIC slams platforms over loose advice fees; Mercer Australia cops A$10.3m fine appeared first on Investment News NZ.

FMA dishes up another helping of custody…

David Chaplin — Sun, 28 Jun 2026 10:43:30 +0000

Custody is “largely unseen by the public”, according to a new Financial Markets Authority (FMA) discussion paper, except when something goes wrong. Some things have gone wrong. As namechecked in the FMA paper, the 21st century has featured several infamous custody-related debacles in NZ such as Ross Asset Management, Barry Kloogh and Halifax. But the... [Read More...]

The post FMA dishes up another helping of custody… appeared first on Investment News NZ.

… as BIG calls for related-party reality check

David Chaplin — Sun, 28 Jun 2026 10:43:15 +0000

Proposed regulatory guidance on related-party transactions (RPT) for managed investment schemes would likely see more onerous compliance obligations and costs “fall disproportionately on smaller and medium-sized managers”, according to an industry collective. The Boutique Investment Group (BIG) argues in a submission tackling the draft Financial Markets Authority (FMA) guidance on RPT that the regulator risks... [Read More...]

The post … as BIG calls for related-party reality check appeared first on Investment News NZ.