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FMA announces methodology for KiwiSaver fee disclosure

9 Jun 17 - Financial Markets Authority: The Government has recently introduced regulations requiring KiwiSaver providers to disclose fees in dollars in members’ annual statements. The Financial Markets Authority (FMA) has been consulting on a methodology that will assist KiwiSaver providers to understand the requirements of those regulations.

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AIA appoints new boss

9 Jun 17 - Good Returns:  The company has today announced its new executive general manager to replace Natalie Cameron who returned to Australia earlier this year.​​​​​​​

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AIA Joins the Financial Services Council

9 Jun 17 - FSC Media Release: The Financial Services Council announced today that AIA has joined the association, bringing the total number of members to 16 members and 14 Associate members. Financial Services Council Chief Executive Richard Klipin said, ‘We are pleased to welcome back AIA to the Financial Services Council. The Industry is going through rapid change and AIA is an important part of the New Zealand Life insurance landscape.’

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Budget 2017 reflects robust economy and a balanced approach

26 May 17 - Financial Services Council: Budget 2017 reflects New Zealand’s continued robust economy and shows a balanced approach, the Financial Services Council said today. ‘The combination of strong employment, solid financials and a robust economy allows the government to make both strategic and tactical choices,’ said Chief Executive Richard Klipin.

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What Budget 2017 spending promises look like when adjusted for inflation and population growth; Defence, education, health, welfare and law & order to fall; Super costs to rise through 2021

26 May 17 - interest.co.nz: For all that talk of winners in this year's Budget, a deep dive into the numbers coupled with fundamental economic analysis paints a different picture. Those wanting to dig a bit further into the Budget numbers, here are some tools to see how 2017’s numbers compared to previous years, and what levels of spending we’re set to see over the next four.

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Budget 2017: More incentives for middle-class taxpayers needed

26 May 17 - NZ Herald: With the Government in a position of surplus it would be good to see some incentives introduced in this year's Budget, beyond the social investment being targeted in the announcements made to date, says local financial adviser Nick Stewart.

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Licensing overview: what the FMA found and what firms need to know

26 May 17 - Financial Markets Authority: Common issues, hints for new applicants and a guide to the Financial Markets Authority’s (FMA) future focus are included in a review of the regulator’s first two and a half years of licensing.

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The winners and losers of Australia's Budget 2017

17 May 17 - stuff.co.nz: A look at the winners and losers from Australia's 2017 federal budget handed down by Treasurer Scott Morrison on Tuesday May 9, 2017.Australia's treasurer Scott Morrison announced a A$75 billion ($80b plan to build roads, railways and runways across Australia with a budget aimed at boosting growth and the government's flagging poll ratings.

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Rebecca Sellers says conduct by insurers is effectively unregulated and the IMF is calling for some protection for consumers, at least up to Australian levels

17 May 17 - Interest.co.nz: Conduct of business by insurers is in the spotlight. The International Monetary Fund assessment of New Zealand’s financial sector (IMF Report) identified gaps in the regulation of insurance.

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Get Sorted: Why KiwiSaver balances go up... and down

17 May 17 - New Zealand Herald: Quick question: what's the difference between a savings account and a KiwiSaver account? Short answer: when you put money in, the first always goes up, but the other goes up and down. That's no small thing. ​​​​​​​

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The value of forecasting in an uncertain world

17 May 17 - Reserve Bank of New Zealand: Forecasting is a valuable part of the monetary policy process, helping the Bank plan for the future, communicate its current understanding and intentions, and react to unexpected events, Reserve Bank Assistant Governor and Head of Economics Dr John McDermott said today.

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Changes for investment companies offering shares to protect investors

17 May 17 - FMA: Investors will benefit from greater protection due to a change in the way the Financial Markets Authority (FMA) will treat certain companies offering shares. Under the Financial Markets Conduct Act 2013, the FMA is able to designate products based on their economic substance, rather than their legal form.

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KiwiSaver hits $40b, but balances stay low

17 May 17 - New Zealand Herald: Strong investment growth has boosted the value of KiwiSaver to over $40 billion but individual balances remain low for many despite the scheme running for nearly 10 years. Figures from Australian research firm Strategic Insight show total KiwiSaver funds hit $40.651 billion at the end of March, up from $38.416b as of December 31.

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RBNZ: Insurance Industry Update May 2017

11 May 17 - Reserve Bank of New Zealand: The purpose of the Insurance Industry Update is to keep licensed insurers informed of current initiatives and to provide clarification on licensing, supervision, compliance requirements and related matters. The update is prepared by the Reserve Bank’s Insurance Oversight Team. It is not policy or legal advice in itself and should not be interpreted in isolation.

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FMA: KiwiSaver trial to target decision-making a decade out from retirement

11 May 17 - Financial Markets Authority: The FMA is working with ANZ to see if behavioural insights can prompt more ANZ KiwiSaver members to get retirement advice, or use retirement-planning tools when they hit 56 years old.

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Diana Clement: More to income protection than just ACC

11 May 17 - New Zealand Herald: Worth seeking advice from financial adviser who specialises in insurance.

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FMA: IMF NZ FSAP Assessment 2017

11 May 17 - Financial Markets Authority: IMF NZ FSAP Assessment 2017. The FMA today welcomes the publication of the International Monetary Fund’s Financial System Stability Assessment (FSSA) for New Zealand.

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Launch of Navigating Change national conference

4 May 17 - Financial Services Council (FSC) and Workplace Savings NZ (WSNZ) are proud to announce the launch of the inaugural national conference.

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PIMCO serves up a dozen reasons why bond investors can’t rest on their benchmarks

1 May 17 - InvestmentNewsNZ: Active management has a proven edge in the bond market, according to a new study by global fixed income giant PIMCO, where almost two-thirds of index-ignorers have outperformed passive peers in the US.

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Willis Towers Watson creeps towards funds management model

1 May 17 - InvestmentNewsNZ: Willis Towers Watson is morphing into a fund manager, just as its main global competitors have done. And it is going to try to do it as a seamless offering in a spectrum of services for big super fund clients. Good luck with that.

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NZ QROPS options shrink as minor players exit

1 May 17 - InvestmentNewsNZ: The rats and mice are deserting the UK pension transfer ship with two minor NZ-registered players cut from the latest official list.

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AMP Capital wins new money from Cigna Life

1 May 17 - InvestmentNewsNZ: Cigna Life Insurance NZ has handed AMP Capital a local fixed income mandate of more than $100 million.

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BT/Westpac funds clean-up sees off Vanguard…

1 May 17 - InvestmentnewsNZ: Westpac KiwiSaver has dropped Vanguard as global equities manager for its default fund in the first phase of an across-the-board ethical-cleansing at its investment management division.

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Getting to Know: Norman Stacey

1 May 17 - Goodreturns: Norman Stacey is a financial adviser and investment strategist who was involved in a high-profile court case relating to the sale of his business. He now spends much of his time in Thailand.

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The big (kiwi) short

1 May 17 - Stuff.co.nz: Global traders have placed huge bets that the New Zealand dollar will fall, but the volume of bets are such that it could eventually drive the kiwi higher.

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Recommended by Re-imagining insurance

1 May 17 - Stuff.co.nz: Sovereign chief executive Nick Stanhope has just celebrated his first anniversary in the job. It's his first role at the top of an organisation but he says he is loving the challenge of trying to innovate an industry selling something most of us hope never to need.

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One in three Kiwis have no money plan for retirement

28 Apr 17 - NZ Herald: Young people were the least likely to have a money plan, but even among older people, only 41 per cent knew how much they would need for retirement.

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Unions call for change at Aussie-owned banks

28 Apr 17 - Press release: The union representing finance workers in New Zealands four majors the Australian-owned ANZ, ASB, BNZ and Westpac is urging New Zealand executives to adopt the recommendations on retail banking practice and culture in the recently released Sedgwick report.

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Geoff Bascand to take over as RBNZ financial stability head

28 Apr 17 - Business Desk: Reserve Bank deputy governor Geoff Bascand will take charge of the monetary authority's financial stability function when Grant Spencer fills in as governor in September.

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10 Funds That Beat the Market Over 15 Years

28 Apr 17 - While it's true that most funds won't beat market indexes over long stretches after accounting for fees, here's a closer look at a handful of Morningstar Medalists that did.

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Are High-Yield ETFs Junk?

28 Apr 17 - Morningstar: The high-yield bond market poses unique challenges to index funds that make an active approach more attractive.

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Kinnel: Managers Growing Wary of U.S. Stocks

28 Apr 17 - High valuations are leaving many value managers looking elsewhere for investment ideas, says Morningstar's Russ Kinnel.

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The Best Investments--Anywhere

28 Apr 17 - Panelists from the Morningstar Investment Conference discuss where they are finding the best opportunities around the globe.

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French Election's Effect On The Markets

26 Apr 17 - Schroders: How would a Macron presidency in France affect equities, the ECB, Brexit negotiations, and more? At our latest Schroders Live event Keith Wade and Martin Skanberg discussed some of the big issues facing Europe and its markets right now.

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Brent Sheather: How to pick a stockmarket crash

26 Apr 17 - NZ Herald: Although you wouldn't know it over the last five years or so -- with the NZ sharemarket up 16 per cent per annum and world sharemarket up 12.4 per cent pa -- share investing involves risk, as there is always the chance that stockmarkets go down for an extended period before they go up again.

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Brian Gaynor: No reason to go back to the bad old days

26 Apr 17 - Rodney Hide, the former MP and leader of the Act party, says “we need the wild west back in New Zealand’s capital markets”.

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U.K. Fund Managers to Investment Banks: Change Bonuses or Else

26 Apr 17 - Investors in Credit Suisse will have their say on revised remuneration proposals at the bank’s annual meeting on Friday, but U.K. fund managers say it’s just the beginning.

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The view from the other side of the world

26 Apr 17 - Goodreturns: The levels of offshore ownership in the New Zealand share market have increased dramatically in the last few years. But now offshore rates are beginning to rise again, what could that mean for our local market?

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Fisher fades as Mercer mounts late retail run in 2016

24 Apr 17 - InvestmentNewsNZ: Mercer struck form in the December quarter after growing NZ retail funds under management (FUM) by almost 11 per cent, more than double the rate of its nearest competitor, new data from Australian research firm Strategic Insight (SI) shows.

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Growing divide in risk profile hits KiwiSaver returns, MJW survey

24 Apr 17 - InvestmentNewsNZ: Divergent asset allocations have come to the fore again in the KiwiSaver market with Milford Asset Management producing stand-out results – at both ends of the scale, the latest Melville Jessup Weaver (MJW) quarterly investment survey shows.

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Wave of new managers to hit direct fund platform

24 Apr 17 - InvestmentNewsNZ: A new clutch of managers has signed on with online fund platform, InvestNow, with five Fisher Funds products first off the rank.

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Fund ops exported to NZ as ANZ builds new team in Auckland

24 Apr 17 - InvestmentNewsNZ: ANZ Investments has reshuffled and added to its Auckland-based team after repatriating some core portfolio management functions from Australia where the blue bank’s wealth division is looking to outsource manufacturing.

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Warminger, FMA appeal

24 Apr 17 - Goodreturns.co.nz: The Financial Markets Authority is appealing a judge’s decision that eight of Milford Asset Management portfolio manager Mark Warminger’s trades did not manipulate the market.

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Want to live til you're 90? Better live like a life insurer

24 Apr 17 - Stuff: The life and health insurance industry used to be an unhealthy industry to work in. Long hours, a drinking culture, and socialising with insurance advisers took its toll on the waistlines and fitness of the male-dominated industry.

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Australian banks cut sales targets, NZ expected to follow

24 Apr 17 - Stuff.co.nz: The Australian parents of New Zealand's big four banks are pledging to overhaul the bonus structure paid to their staff.

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Goldsmith, Seymour eye more robust regulatory analysis

24 Apr 17 - NBR: Regulatory Reform Minister Paul Goldsmith and his under-secretary David Seymour want government officials to provide more robust regulatory analysis under a tighter framework to avoid poor advice typically undermined by seeking a preordained solution.

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Smartshares product manager Dean Anderson: Top 10 questions

24 Apr 17 - Interest.co.nz: Smartshares product manager Dean Anderson on not letting the daily news distract you, the Tao of wealth management, challenges for active investors, playing the long game and more.

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NZ SUPER fund writes down investment

24 Apr 17 - NZ Super Fund: The NZ Super Fund remains committed to investing in early stage companies after writing down its investment in US wind turbine company Ogin Inc.

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Simplicity cuts global credit on ESG concerns

24 Apr 17 - InvestmentNewsNZ: Fund disrupter firm, Simplicity, has sold down its global credit investments due to a lack of suitably-priced screened options.

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Adrienne Duarte: Lesson's I've learned from a lifetime of investing

21 Apr 17 - Stuff.co.nz: OPINION: Some of my colleagues were amused when I mentioned recently that as a young teenager I spent some of my spare time reading company annual reports and prospectuses. But that's when I first took an active interest in investing.

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About us

The Financial Services Council (FSC) represents investment and life insurance companies in New Zealand.

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Services

Contact us

Ph: +64 09 985 5762

Email: fsc@fsc.org.nz

Level 33, ANZ Centre,
23-29 Albert Street, Auckland 1010

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