NAME CHANGE ANNOUNCEMENT
We are pleased to announce that our company name has recently changed from Ranfurly Strategic Limited to MB Funds Limited.
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Click the link below to hear Baillie Giffords, Philip Scott (Investment Specialist) and Kevin Mitchell (Director - Intermediary Clients) discuss the recent performance of the Baillie Gifford funds and the current financial market volatility with the Directors of Ranfurly Strategic, Ken Steven and Chris Wells.
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Read here for a summary of the discussion points from the recent ‘Meet the Managers’ session with Baillie Gifford
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The concern many of you are feeling in response to the recent decline in the value of your superannuation fund is understandable and something which Ranfurly Strategic is taking very seriously. We are considering a number of options to address the situation without losing sight of the fact that superannuation is a long-term investment strategy.
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Baillie Gifford are long-term investment managers, but they understand periods of weakness are uncomfortable.
In this recording, the Baillie Gifford Managed Fund’s co-managers, Steven Hay and Iain McCombie, address the questions that we know are on investors’ minds. Join them as they review performance throughout 2021 and into 2022 and discuss the outlook from here.
Please note this recording was produced in early February 2022 before the invasion of Ukraine.
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After two years of relatively low levels of Covid 19 in the community and a series of national and localised lockdowns, we are beginning to see the steady spread of Delta and Omicron through New Zealand. Like most companies in New Zealand, Ranfurly Strategic Limited and its service providers have in place Covid protocols to ensure the ongoing provision of services. The previous lockdowns have demonstrated that we can support the operations of the Ranfurly Superannuation Scheme remotely with limited impact on service levels.
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For global equity markets, 2022 has been one of the most volatile starts to the year on record. At one point in January the NASDAQ Composite was down 17% from its November high before recovering in the last few days.
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The attached article looks at a history of market crashes and recoveries and what today’s investors can learn from the past.
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Following the Government announcement overnight that its COVID-19 response will move to Level 3 in Auckland and Level 2 for the rest of New Zealand, we want to provide you with a quick update on the actions Ranfurly Strategic Limited is taking immediately.
From the close of business on 12 August 2020 staff will work from home. The office has a centrally supported reception and they will manage the receipt of all mail and couriers. All other functions will be supported by staff working from home.
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As news of the Coronavirus pandemic spread, we saw sharemarkets around the world plummet in response. March 2020 was the beginning of a particularly turbulent period and the Ranfurly Superannuation Scheme was fortunate to report relatively conservative losses when compared with the markets and other schemes in the market.
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COVID-19 UPDATE
7 April 2020
Covid-19 has spread throughout the globe and like other business in compliance with the New Zealand wide lockdown our offices are closed, and Ranfurly Strategic staff are working and supporting the scheme from home. The lockdown has had no significant impact on our ability to manage the scheme and service you as members. The scheme independent supervisor, administrator and custodian have also confirmed that they are operating effectively during the lockdown.
March 2020 was the most turbulent month in the financial markets that we have seen since 2008 and it was a more abrupt economic slowdown than we saw in 2008. The major equity indices were down from their peak in February about 20% - 25% with the ASX 200 nearing a 30% decrease.
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For the third consecutive year, Ranfurly Superannuation’s Fund Manager, Baillie Gifford has won the Financial Times Adviser top award. The Edinburgh-based investment management firm bet out nearly 100 other nominees to take out first place in the coveted Large Investment Group category.
The criteria are based on short-term and long-term outperformance and firms are to demonstrate real potential for the next five years. Judges noted that they felt that Baillie Gifford’s numbers were simply “too good to ignore”, after a year going from strength to strength.
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Following numerous bids by the U.K. Prime Minister Boris Johnson to call a snap election, the deadlock has finally been broken. MP’s voted 438-20 in favour of the general election and the date has been set for 12 December. This near-unanimous support for the general election following three prior failed bids comes after the second Brexit deadline of 31 October passing with no deal yet in place between the European Union and the U.K.
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The Ethical Finance 2019 Summit is being held in Edinburgh and is being attended by over 200 leading finance experts, institutions, government officials and business representatives from around the world. Amongst those attending include Scotland's First Minister Nicola Sturgeon and the Archbishop of Canterbury and Baillie Gifford, who is the underlying fund manager of the Ranfurly Superannuation Scheme.
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Earlier this week, financial news and industry magazine Investment Week announced their finalists for the Investment Company of the Year Award 2019. Baillie Gifford is nominated in three categories including Best New Issue, Single Country and Group of the Year.
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With on-going uncertainty surrounding Brexit, the talks of dramatic policy changes under the new Government, being aware of the potential impacts Brexit could have on your UK-based pension may help you get and remain ahead with your pension. Prime Minister Boris Johnson has signalled that Britain will leave the EU by the October 31 extended deadline with or without a deal if no agreement has been reached.
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Her Majesty’s Revenue and Customs (HMRC) has recorded an increase in the number of individuals that have transferred their pensions to a Recognised Overseas Pension Scheme (QROPS) in the 2018-19 financial year. The released data shows that there has been a 6% increase in the volume of transfers out of registered UK pension schemes, a total value of £640 million.
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Two former employees of a New York-based investment advisory firm DeVere USA Inc, are accused by the US Securities and Exchange Commission(SEC), of providing pension transfer advice to hundreds of clients that may go against their best interest. In a conflict of interest which would see the employees receiving higher compensation from the pension transfer.
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After receiving the go-ahead, the Malta Financial Services Authority (MFSA) is implementing amendments that change the way QROPS providers handle transfers and deal with financial advisers. The amendments bring in stringent new rules both for advisers and asset/investment restrictions. Following news of these regulatory changes, Australian and New Zealand pensioners with their pensions in Malta-based overseas schemes are being urged to check whether their pension pots are at risk and whether their financial advisers can still act and work on their behalf.
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The Malta Financial Services Authority (MFSA) published a newsletter in January confirming amendments to the country’s Retirement Pensions Act. The amendments bring in stringent new rules both for advisers and asset/investment restrictions. Following news of these regulatory changes, pensioners with their pensions in Malta-based overseas schemes are being urged to check whether their pension pots are at risk.
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