Nearly half of all funds managers have yet to finalise their policies and procedures for unit pricing discretions, despite the ASIC deadline for doing so looming on May 1, according to a Deloitte survey.
Compulsory super would cost 800,000 votes’: NZ Opposition
Bill English, finance spokesperson for the opposition New Zealand National Party, has quashed the hopes of many product manufacturers by ruling out the possibility of upgrading the coming ‘opt out’ workplace retirement savings scheme, KiwiSaver, into a compulsory system.
Share your anger and win tickets to Hedwig & The Angry Inch
In a stressful business like financial services, expressing your anger can be very therapautic – if it’s done in a constructive, non-violent way, of course. To encourage you all to vent, I&T News has 10 double passes to the musical sensation Hedwig & The Angry Inch (worth $100 each) to give away to readers who email us about what’s making them angry.
US property manager makes second play in Australia
US property company Sentinel Real Estate Corporation is having a second crack at the Australian institutional investment market after an initial, unsuccessful attempt three years ago.
Head of bonds wanted for Adelaide Bank insto push
The asset management arm of Adelaide Bank, Adelaide Managed Funds (AMF),is seeking a head of fixed interest to spearhead a bid for institutional debt mandates.
Derani Brewis leaves BT for GMO
Long-serving institutional business manager for BT Financial Group, Derani Brewis, left the manager last week and has taken a new institutional sales role at GMO.
Jenkins head of research departs
Head of research at Jenkins Investment Management (JIM), Scott Armstong, has left and won’t be replaced as the manager adopts a “;less prescribed”; structure to research according to managing director David Alyward.
It’s footy players versus fundies at charity poker comp
A poker competition this week among Australian hedge fund managers and rugby league players will give proceeds to a charity investing in diagnostics technology for the Children’s Hospital at Westmead, Sydney.
CBA buys stake in Snowball
Commonwealth Bank of Australia (CBA) has claimed a substantial holding in diversified financial services company Snowball Group, buying half of the equity stake previously held by Equity Partners Two (EPT).
HESTA appoints new global equities managers
HESTA has re-worked a significant portion of its international equities portfolio, awarding $300 million in mandates to three global long/short equities managers.
Coin set to replace Moneywise on AMP planner desktops
AMP Financial Planning (AMPFP) is understood to be close to signing up the Macquarie-owned Coin software system for the 1,300 plus advisers in its network.
Future Fund hires Leong as operations strategist
Former custody consultant Wendy Leong started at the Future Fund last Tuesday in the role of operations strategist, reporting to head of operations Gordon McKellar.
