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NZX ( (NZSTF) ) has provided an announcement.
NZX and its subsidiary Smart are externalising the investment management of QuayStreet Asset Management funds into a newly created, independently owned QuayStreet Group, while retaining Smart as product owner of the funds and KiwiSaver schemes. QuayStreet Group, run by the existing investment team led by Stefan Stevanovic, will take control of the brand, investment management, marketing and distribution, with Smart maintaining governance and infrastructure to preserve oversight and continuity for investors.
The move formalises QuayStreet’s active management focus after NZX decided not to shift to a more passive style, aiming to unlock stronger growth prospects and better align incentives following QuayStreet’s award-winning performance. To support its strategic direction under the new independent structure, QuayStreet has appointed veteran wealth manager Cameron Watson as Head of Strategy, reinforcing its ambition to scale its client base while sustaining high standards of outcomes for investors and creating longer-term value for NZX shareholders.
More about NZX
NZX Limited is New Zealand’s stock exchange operator and a provider of market infrastructure and investment services, including through its subsidiary Smart, which offers managed funds and KiwiSaver schemes. QuayStreet Asset Management, acquired by Smart in 2023, is an actively managed fund manager that has delivered strong performance and industry-recognised outcomes for its clients.
For detailed information about NZSTF stock, go to TipRanks’ Stock Analysis page.