Squirrel taps fixed income heavyweight to spearhead managed fund push
Rising demand from Kiwi investors for reliable income streams has prompted Squirrel to bolster its investment leadership, appointing fixed income specialist and seasoned investment banker Iain Cox (pictured) as its first head of managed funds. The newly created role reflects how quickly Squirrel’s managed fund offering is growing.
Cox brings more than 30 years’ experience across investment banking and funds management in New Zealand and offshore. He spent almost 12 years as ANZ’s Australasian head of fixed income, overseeing fixed income and cash portfolios across New Zealand and Australia, including fixed interest portfolios worth around $9 billion for Kiwi savers.
Before joining ANZ, he managed global credit and structured credit portfolios at OnePath (formerly ING) through the GFC, and earlier held roles with NZ Funds, Credit Suisse, and Barclays Capital.
Squirrel CEO David Cunningham said Cox’s track record in running high-performing funds made him a natural fit.
“Our managed fund offering is in a really pivotal phase at the moment. With the global environment so uncertain, investments that offer a reliable monthly income have become even more appealing to investors — which has translated to a big surge in demand,” Cunningham said.
Driving income-focused product innovation
Cunningham said Squirrel aims to lift its managed fund capability, noting the business is “targeting a pretty major step-change — doubling down on some of the new product development we’ve already got in the works, and leveling up on the governance side of things. Iain brings deep expertise in both aspects.”
Drawing on his specialist background in bonds and cash investments, Cox will play a key role in strengthening governance and shaping the future direction of Squirrel’s managed funds as the business continues to grow in this space.
Implications for advisers and Kiwi investors
For advisers, Cox’s appointment underlines Squirrel’s emphasis on long-term outcomes for local investors. Cox said the firm’s ownership structure and local focus were key drawcards.
“What really stood out to me about Squirrel is that it’s a Kiwi-owned business that’s genuinely focused on delivering better outcomes for Kiwis,” he said.
“They’ve built a strong foundation already — and there’s a clear opportunity to continue building a disciplined, income-focused investment offering. I’m looking forward to working with the team to grow that in a way which delivers consistent value for investors.”
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