15 February 2010 13:00
Merlicek hoped a “partnership” with Russell would develop, pointing out that both were “turnaround situations”.
Indeed, the IOOF CIO is starting with a blank sheet of paper after an acquisition spree instigated by Australian Wealth Management left him with three multimanager teams (Skandia has since been dissolved), while Russell was until recently thought by many to be a spent force in asset consulting, having lost most of its sizeable ‘traditional’ clients.
Global equities have driven most of MLC’s FY26 return so far, but its exposures to insurance-linked securities and “esoteric” credit have also put in the hard yards and helped the fund diversify beyond the AI thematic, according to chief investment officer Dan Farmer.
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