FirstCape

How to save our shrinking stock market... New Zealand’s savings pool is growing thanks to consistent KiwiSaver contributions and better returns earned, but the amount of money being deployed domestically is shrinking, with the biggest wealth managers choosing to increasingly invest offshore instead. “We’ve got great returns overseas, we’re getting okay returns here in New Zealand.” FirstCape CEO Malcolm Jackson told me. “As our savings industry grows, we need our capital markets to grow as well.” FirstCape invests about $51 billion on behalf of 800,000 New Zealanders directly and indirectly – making it one of the largest wealth firms in the country. Jackson said more than half that amount was invested offshore, where returns had outperformed, especially in the United States. In this interview we discussed: - Listed liquidity constraints and how the Govt could help. - How to make listing attractive (and why it may never be to some of NZ's best companies). - Balancing regulation & the impact of over-refereeing on performance. - Concessions for small to mid-cap companies. - Public v private capital. - Investing in infrastructure. I'm so pleased MJ was bold enough to have this conversation publicly and state that change is required to save our stock market. As he's told me before, "If it wasn't awkward for them to hear, they didn't hear you." Watch on YouTube: https://lnkd.in/gMCpn8hF On the New Zealand Herald: https://lnkd.in/giPR5uhv Wherever you get your podcasts: https://lnkd.in/gN7bDipk & on TVNZ+ MarketsWithMadison@nzme.co.nz

Our country's savings are growing, so how do we ensure our capital markets keep up? Our Chief Executive, Malcolm Jackson sat down with Madison Reidy to chat about the opportunity for growth in New Zealand's capital markets and the work already being done to get there. Watch the full video here.

The landscape of retirement savings in New Zealand is evolving, and it’s clear that KiwiSaver is overdue for a well-deserved upgrade. Jane Wrightson and the Te Ara Ahunga Ora Retirement Commission have released a comprehensive report with 15 recommendations to improve KiwiSaver, our CEO Malcolm Jackson wrote a piece for the NZ Herald with his thoughts. Read the article here.

Our CEO Malcolm Jackson spoke to the NBR - National Business Review last week following the launch of FirstCape. Malcolm talks about the ambitions for the firm, and wanting to use its size and scale to effect change, specifically around KiwiSaver contributions and making the scheme compulsory. Read more here.

Last week, our Board Chair Matt Whineray and CEO Malcolm Jackson were interviewed for Markets with Madison with Madison Reidy. As new leaders of FirstCape, a $44 billion finance firm, the two talked about making it their mission to help grow the private savings pool so retirees can rely less on increasingly inadequate Government pension payments. What does FirstCape's newfound size will mean for investors? And what are the plans to cope with continued wealth inequality?