New Zealand

Profile: David Rae, head of investment analysis at NZ Super

The NZ$25.5 billion NZSuper (AUS$23.6 billion) is intended to reduce the tax burden on future taxpayers to fund New Zealand Superannuation, the retirement benefit paid to eligible citizens by the Federal Government. The government is not scheduled to make withdrawals from it until 2029-30 and the fund will peak about the same time today’s four […]
Investment Strategy

Stronger Super will fail to significantly reduce fees

Stronger Super will only succeed in reducing fees by 0.1 per cent and further competition is needed to match the low investment costs achieved in other countries, a damning report from the Grattan Institute has claimed. The report entitled Super sting: how to stop Australians paying too much for superannuation is authored by Jim Minifie, […]
Investment Strategy

NAB gains custody deals in the Bight and in NZ

WorkCover SA and Suncorp in New Zealand have signed National Australia Bank (NAB) for custodial services following recent tenders. NAB and fund administrator MMc Ltd gained Suncorp’s New Zealand business, which provides general and life insurance, banking, superannuation and investment services, in a strategic partnership, according to a June 27 NAB statement. NAB, which is […]
Investment Strategy

Super funds seek J. P. Morgan advice

When Robert Bedwell was talking to J. P. Morgan Chase about a new job that would help manage relationships with the bank’s biggest asset management customers, he was concerned that he would not get the cooperation of the 1,400 people in Australia and New Zealand working for the company. Bedwell fears have not been realised. […]
Investment Strategy

Pierre Jond expects BNP Paribas custody wins

When Frenchman Pierre Jond’s daughters first arrived in Australia in January 2010 he took them to Bondi Junction. There his eldest tugged at her father’s sleeve to attract his attention. “Papa there are men barefoot and shirtless; aren’t the police going to do anything?” Jond laughingly recalls his daughter saying in French. Jond, like his […]
Investment Strategy

Nathan Fabian’s climate investing push

Just a sliver of the $1.8 trillion in assets under management in Australia are invested along thematic environmental, social and governance lines. These few billion dollars are invested whereby an environmental or social factor will generally trump traditional measures such as short-term returns. “To fully incorporate enviornmental, social and governance questions requires cultural changes in […]
Investment Strategy

KiwiSaver assets under management NZ$11.6 bln

KiwiSaver, New Zealand’s nationwide pension scheme, has boosted its assets under management to NZ$11.63 billion as of the end of last year. Funds under management rose 7.5 per cent or NZ$580 million on December 31 from September 30 when they were $10.82 billion. “There have been very strong flows, $500 billion a quarter for several […]
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