Fund managers want NZX to spin off Smartshares

Some fund managers, like Sam Stubbs, are unhappy to have the NZX encroaching on what they see as their territory. (Image: Supplied)

Dan Brunskill

Mon, 04 Oct 2021

Fund managers are concerned that the New Zealand Stock Exchange isn’t focused on its core market and want to see Smartshares spun off into a separate company.Sam Stubbs, the outspoken founder of Simplicity, said the stock market operator wants to be a fund manager more than it wants to be a securities exchange.“If they really wanted to be an exchange, first and foremost they would sell, or separately list, their funds management business,” he said.Simplicity is a direct competitor to Smartshares, because both offer low-cost pa...

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