Fund manager report canned
NEW Zealand fund managers can stop holding their breath waiting for the Securities Commission’s report on practices within their industry — it has officially been canned.
Outgoing Securities Commission chief executive John Farrell has confirmed the commission has ditched the report on fund management practices it has been working on for two years.
Farrell says the commission decided not to proceed because the amount of information gathered was too big to draw together on the commission’s resources, and some of the information was now out of date.
He says the commission has no plans to promote the idea of regulation of fund managers.
—Philip Macalister
Recommended for you
Having officially opened its doors, ETF Shares – led by three former Global X employees – has now launched its first three ETF vehicles on Cboe Australia for financial advisers.
Platinum Asset Management has lost a near-$1 billion institutional mandate as data shows its funds under management fell below $10 billion in April.
Betashares and Global X have announced they will both be launching new products focused on defined income bonds and Chinese technology, respectively.
Sydney investment manager Vado Private has welcomed a new director and head of funds management to its team as it seeks to grow its presence in the Australian private credit market.
