The NZ science and technology investors are onto their fourth fund, which is shaping up as their biggest yet. Savvy investment and active ownership have been key ingredients so far, along with support from the NZ government.
“The biggest mistake we make as investors is to think that the environment going forward is going to be similar to either the environment that we’ve had or the environment that is shortly foreseeable,” Langley said, adding that “all of this is going to get turned on its head”.
You don’t need to be a tech stock advocate to understand the importance of looking beyond the headlines and the hype, creating your own narrative based on facts, and assessing each opportunity with a clear lens.
Contrarian investors are adept at spotting misalignment that leads to arbitrage between real value and perceived value. But it isn’t easy. “True bargains are hard to come by,” says Orbis Investments’ Eric Marais.
The tailwinds for disinflation are starting to coalesce across the globe, which should give some central banks the ‘anchoring’ required to start dropping rates by the middle of the year.
It was assumed by industry that a glaring gaffe in the government’s draft legislation, which forces super funds to assess every piece of advice before deducting advice fees, would be amended in the final bill.
There are several bones of contention that the FAAA, and the industry more broadly, has with the compensation scheme’s settings, despite supporting it in principle. At the heart of it is the government’s repeated willingness to foist retrospective punishment on the good for the sins of the bad.
Liquid alts will only become more in demand if the positive relationship between bonds and equities remains sticky, Harrex explained. Investors will need another diversifier, and the liquidity will only make them more attractive.
After a stellar two years for private equity, the global market stalled in 2023 amidst challenging conditions. The switch called for agility, with Neuberger Berman finding other ways to get deals going that put distributions in the hands of investors.
There is an incredible rush to bring model portfolio offerings to market from every corner of the advice ecosystem. From platform providers to licensees and advice groups, researchers and asset consultants, the list of service providers casting themselves as mini fund managers is growing exponentially. We’ve seen this kind of thing happen before.
