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Milford award 'a win for active management'

Thursday 3rd of October 2019

Milford was named Fund Manager of the Year at the awards, beating finalists Fisher Funds and Smartshares.

It is the first time the awards have been held since the research house was sold by NZX.

“We are incredibly passionate about serving the needs of our clients and the benefits of active portfolio management. It’s great for that to be recognised by Zenith FundSource,” said Milford chief executive Mark Ryland.

ASB was named KiwiSaver manager of the year, ahead of Fisher Funds and Booster.

Its head of wealth, Jonathan Beale, welcomed the award.

“We’re excited to be awarded the Zenith FundSource KiwiSaver Fund Manager of the Year. It recognises the effort our team put in every day to get great investment outcomes for our customers, which is at the core of ASB’s investment solutions. We are proud to have this recognition, but more satisfying is knowing the benefit these investment outcomes have had on our customers’ goals.”

Boutique Manager of the Year was awarded to Castle Point Funds, beating finalists QuayStreet Asset Management and Mint Asset Management.

The full list of award categories and finalists:

Australasian Property

Finalist: BT Funds Management (NZ) Limited/Westpac
Finalist: First Sentier Investors
Winner: Forsyth Barr Investment Management Limited

International Property

Finalist: Quay Global Investors (a Bennelong boutique)
Finalist: Mercer
Winner: Fisher Funds Management Limited

New Zealand Fixed Interest

Finalist: Forsyth Barr Investment Management Limited
Finalist: Smartshares Limited
Winner: Milford Asset Management

International Fixed Interest

Finalist: AMP Financial Services (NZ) Limited
Finalist: Harbour Asset Management
Winner: Mercer

Diversified

Finalist: ASB Group Investments
Finalist: BT Funds Management (NZ) Limited/Westpac
Winner: Milford Asset Management

Alternatives

Finalist: Mercer
Finalist: Perpetual Investment Management
Winner: AMP Capital

Australian Equities

Finalist: Alphinity Investment Management
Finalist: First Sentier Investors
Winner: Smartshares Limited

Australasian Equities

Finalist: Milford Asset Management
Finalist: Mint Asset Management Limited
Winner: Castle Point Funds Management

International Equities

Finalist: Fisher Funds Management Limited
Finalist: Harbour Asset Management
Winner: Magellan Asset Management

New Zealand Equities

Finalist: Fisher Funds Management Limited
Finalist: QuayStreet Asset Management
Winner: Smartshares Limited

Boutique Manager of the Year

Finalist: Mint Asset Management Limited
Finalist: QuayStreet Asset Management
Winner: Castle Point Funds Management

KiwiSaver Manager of the Year

Finalist: Booster Investment Management Limited
Finalist: Fisher Funds Management Limited
Winner: ASB Group Investments

Fund Manager of the Year Award

Finalist: Fisher Funds Management Limited
Finalist: Smartshares Limited
Winner: Milford Asset Management

FundSource funds management Zenith Fund manager of the year
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Latest Comments
New customers locked out of ASB’s pre-approvals
As much as I disapprove of the ASB stance, I totally understand it, ESPECIALLY as the ComCom expect us to put an application to 4-5 banks, and not just the one we believe to suit the client the best. By demanding this, we would be tying the banks up with 4-5 times the applications necessary to secure a settlement. Banks would know that only 20-25% of applications are going to make it through to settlement. This shotgun approach is why banks are overloaded.
1 month ago Andy Phillipson
New customers locked out of ASB’s pre-approvals
This is pure BS from the major banks. In front of ComCom earlier in the year they denied any policy of channel inequality yet there clearly is from some (at board level) both in turnaround times and cashbacks for example. They need to staff up, sort their antiquated IT and give Advisers the respect they deserve. New Zealand borrowers are voting with their feet and using Advisers more and more. Are some banks starting their pushback? One as done it before so no surprise there.
2 months ago Jeff Royle
New customers locked out of ASB’s pre-approvals
As a financial adviser, business owner and ex-banker/home lender in NZ & Australia with almost 20 years experience I can tell you that this is very concerning for several reasons - first one being that as bank staff you still get paid regardless of whether you put the approval thru, lazy/incompetent/time poor bankers are often declining loans rather than taking the time to push a difficult deal thru as they get paid either way, as a financial adviser who doesn't get paid unless the deal settles we are more committed to securing an approval which is why more volume now comes thru the broker channels. This feels like it's the banks way of reducing costs by not having to pay brokerage to advisers when bank lenders doing nothing should be sitting on the broker overflow lines. This directly affects small businesses and is another example of banks playing God & redirecting profit margins back to their own coffers - there is no valid excuse for branch lenders doing nothing to not be sitting on these overflow lines. It makes a mockery of giving the choice back to the clients who are already typically having poor banking experiences when dealing direct with bank staff.l and in no way supports small businesses already doing it tough.
2 months ago Natasha Viliamu
New customers locked out of ASB’s pre-approvals
Another major bank today has announced no pre approvals via Advisers for under 80% LVR. That's at least 3 of them. All applications whether direct or through Advisers should be given the same priority and go through the same assessment process. Banks don't appear to have invested (enough) in staff or technology and given how much money they make, it is unacceptable. Lets hope it gets sorted soon!
2 months ago Craig Pope
New customers locked out of ASB’s pre-approvals
Sorry I don’t believe ASB are overrun with applications as we are traditional in a slow market so I think this” high volume “ excuse is rubbish, ASB will still post a massive profit due margins being so high but they can’t hire extra staff?? This is a disgrace! for consumers that choose to go through an independent mortgage adviser ASB are turning them away, but an ASB branch can write that deal no problem? , what happened to offering choice to the consumer? And being competitive? Are Comcom silent on this? Are the dealer groups /master FAP’s who have a monopoly over mortgage advisers’ access to bank mortgage lending silent on this? Why do we pay dealer groups /Master FAPs thousands in fees and costs if they can’t or don’t want to even back the people that pay their wages. All mortgage advisers want is an even playing field no more no less. How would ASB feel if all mortgage advisers in NZ stopped sending business to them for a few months?
2 months ago Valkyrie Vulcan