What sale of Devon Funds parent says about NZ financial services

The age-old question: does size matter? (Image: Getty)

Tue, 01 Jul 2025

More big local fund manager news broke in June as a deal, so long in the making that most industry observers had written it off as fiction, finally came through.Under the arrangement, Investment Services Group – a conglomerate of three fund brands, an advisory network, a distribution platform and a KiwiSaver scheme – sold three-quarters of its equity to blue-blood Australian stockbroker-cum-wealth manager, Shaw and Partners (known as Shaws).Founded by New Zealand funds luminary, Paul Glass, ISG had been shopped around to various par...

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