Lehman’s loss is Warakirri’s gain

A former executive from the now defunct Lehman Brothers Asset Management yesterday started at Warakirri Asset Management.

Conor Hayes, previously the financial services manager for the Australian asset management arm of the now-bankrupt outfit, has become the company secretary and head of compliance for Melbourne-based Warakirri Asset Management. Graham Fenton had been fulfilling the role on a part-time basis, prior to his retirement. Warakirri is a vendor of Australian equities and alternatives multimanager funds, as well as agribusiness funds.

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NZ Super cuts benchmark return expectation on US valuation concerns

A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark.

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