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Philip Macalister
Philip Macalister
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Investments

League Table: Fund manager rankings

Sunday 7th of May 2000

Net Funds Under Management for all funds
March 31, 2000

Manager

Mar 00

Rank

Dec 99

Rank

Sept 99

Rank

Tower Group

2067.3

1

2026.0

1

1892.3

1

AMP

1761.6

2

1722.5

2

1585.1

3

Royal & SunAlliance (+GT)

1672.1

3

1710.6

3

1708.0

2

Armstrong Jones

1634.3

4

1634.0

4

1303.7

4

BNZ

1268.0

5

1262.4

5

1227.8

5

NZ Funds Management

1234.5

6

1111.6

6

950.9

8

ANZ

1099.4

7

1104.5

7

1079.2

6

WestpacTrust

1062.9

8

1026.5

8

944.3

9

Colonial

1031.2

9

978.0

10

920.6

10

AXA

995.0

10

1010.2

9

994.3

7

ASB Bank

572.8

11

496.8

12

402.8

13

BT

512.5

12

484.9

13

419.3

12

Sovereign

509.5

13

515.3

11

501.8

11

National Bank

333.4

14

351.6

14

328.4

14

Kiwi Income

287.8

15

308.1

15

319.9

15

Public Trust

285.4

16

293.0

16

286.6

16

Perpetual Trust

232.0

17

229.1

17

226.5

17

Equitable

211.2

18

193.9

18

188.1

18

Calan

130.0

19

143.2

19

141.1

19

Forsyth Barr

115.5

20

117.4

20

116.8

20

Macquarie

111.4

21

86.4

21

100.4

21

NZ Rural Property Trust

64.8

22

71.3

22

71.1

22

Jacques Martin

61.9

23

60.5

23

57.7

23

NZSE

40.6

24

41.5

25

37.4

25

Coronet Asset Managem't

39.5

25

43.3

24

43.4

24

Cigna

33.7

26

34.7

26

37.1

26

Fidelity

32.6

27

30.0

29

28.3

29

UDC

32.5

28

33.1

27

33.5

27

Craig & Co

26.0

29

31.5

28

30.0

28

Fisher Funds Management

24.0

30

21.8

30

13.0

30

Frater Williams

12.9

31

13.4

31

12.2

31

Waltus

9.8

32

9.6

32

9.1

32

Dresdner

5.0

33

3.3

35

5.6

34

FCMI

4.0

34

5.7

33

6.7

33

Direct Asset Management

3.3

35

3.5

34

3.5

35

Total

17,518

  

17,209

  

16,027

  

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
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FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
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FMA outlines its latest expectations for advisers
All things said are great aspirational goals for a great financial advice industry, it mirrors what both the legislation and the code requires. However, like most things discussed it talks about what's expected not how it's done. The hardest aspect of financial advice today isn't what it is, it is how it is done. The how only comes from those that have done it, the how is only provided with examples. Guidance documents that spell out what's required along side how it it done. We’re still dealing with the same issues we started with in 2021, figuring out the how. And figuring out the how in every advice business is consuming resources that could easily be shortcut by the FMA demonstrating what they are expecting. It's not about “do it this way” its about this is the sorts of things we’re looking for. In the absence of standards and expectations, guesswork prevails. That represents significant risk to FAPs and the result is onerous overcooked advice processes for multiple advice operations and undercooked she’ll be right for single operators focused on getting the work done. Both approaches have potential for harm and as its been said earlier, leaves advisers open to explain they haven't been speeding with the authorities have pulled them over. The advice industry needs guidance on the how we know the what already.
4 days ago Jon-Paul Hale
Who is responsible for notifying policy changes?
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4 days ago Jon-Paul Hale
FMA outlines its latest expectations for advisers
To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
4 days ago Paul Flood