Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Asb Group Forms $11.2 Billion Investment Funds Op

Asb Group Forms $11.2 Billion Investment Funds Operation

Statement made by Hugh Burrett, Managing Director, ASB Group

ASB Group has formed one of the country’s largest investment operations with retail funds under management of $4.3 billion and under administration of $6.9 billion, and appointed Mr Ross McEwan to head the operation.

The entities that are contributing investment funds to the new division are Sovereign, ASB Bank, AEGIS and Jacques Martin.

Ross McEwan, as Head Of Investments, will report to the Managing Director of ASB Group, Mr Hugh Burrett.

The rationale behind the new investment division is to provide a single entity to maintain business growth by consolidating the Group’s expertise within our various separate organisations to our customers’ advantage. This will include generating the best returns possible, managing risk profiles and sharing our research and development initiatives across the total product and service range.

We will continue to market and distribute retail funds under the Sovereign and ASB Bank brands, and each will have its own strong, distinctive products and services..

Information in relation to the funds of each of our operations will continue to remain confidential to them.

What is being combined is the back room functions that can be centralized, with a focus being placed on growth.

Ross McEwan has an impressive track record as a financial services manager, and his appointment will add leadership and strategic direction for what has become a significant area of business for the ASB Group.

Mr McEwan will be located at Sovereign’s North Shore City headquarters.

Mr Simon Swanson, Managing Director of Sovereign, will remain ASB Group’s representative on ISI ( the Investment Saving and Insurance Association ), an organisation he chairs.

Short biographical notes on Ross McEwan

Mr McEwan joins ASB Group from First NZ Capital Securities, where he was Managing Director.

Prior to this he was the Chief Executive of AXA New Zealand ( formerly National Mutual ) for more than five years, and with the organization for 16 years.

He is a Fellow of the NZ Institute of Management and Honorary Life Member of the Investment Savings and Insurance Association ( ISI ).

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO: