FMA to review CoFI Guidance

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.

Hewes said the FMA was looking at whether “targeted, limited updates” to the Guidance were needed following the Commerce Commission’s Market Study into personal banking services during his talk at last month’s National Adviser Conference.

“The Market Study highlighted how distribution settings can affect competition and consumer choice and outcomes, particularly through ...MORE»

Industry wary of KiwiSaver changes Thursday, April 9th, 9:16AM KiwiSaver providers are cautiously supportive of changes to make it easier for farmers to buy homes – but would prefer the tinkering with the system stopped. MORE»

Active manager (sort of) leaves the passive house Sunday, April 5th, 10:04AM NZX’s active management business, QuayStreet Asset Management, is being given a bit more free reign. MORE»

Bond funds likely to deliver out-sized returns: Amova

Financial markets have priced too much inflation risk into longer-term fixed interest yields, according to Fergus McDonald, head of the bond and currency team at Amova Asset Management.

New Zealand 10-year government bonds are currently yielding about 4.75% while the OCR is at 2.25%, a 250 basis point gap, McDonald told an Amova investment conference.

The history of the last 20 years shows when that gaps gets that large, bond yields have fallen, McDonald said.

“We’ve been here before. Markets are anxious and uncertain about outcomes,” and that has led to mispricing ...MORE»

Longwave aims to smooth the waters Tuesday, March 31st, 6:00AM For clients approaching retirement, consistent returns become more important than producing the highest possible returns, and so the Longwave Australian Small Companies Fund aims to deliver consistent returns, according to chief investment officer David Wanis. MORE»

FMA calls for innovation to drive financial advice uptake Wednesday, March 25th, 5:43PM  7 comments The Financial Markets Authority (FMA) is calling for Financial Advice Providers (FAPs) to innovate to encourage more consumers to use their services to improve their financial wellbeing. 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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Fidelity building register to help firms connect with Career connect graduates

Fidelity Life marks 2025 Career connect milestone with record 29 graduates MORE»

TMM Online

Non-bank sector hopeful of a more profitable year

Even though margin pressure, the Iran war and election year dynamics are weighing on non-bank lenders, they are cautiously optimistic their businesses will improve this year, KPMG’s Specialist Lenders Insights Report shows. 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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Industry wary of KiwiSaver changes

KiwiSaver providers are cautiously supportive of changes to make it easier for farmers to buy homes – but would prefer the tinkering with the system stopped. MORE»