Multi-manager products internationally have topped the $US1 trillion mark for the first time, with funds of funds the fastest growing segment, according to a report by Cerulli Associates.
Lehman’s $120m bid for Grange opens fund management potential
Grange Securities has ambitious plans to grow both its investment banking and asset management capabilities following its acquisition by US financial institution Lehman Brothers for a reported $120 million, according to Glenn Willis, Grange managing director.
Aussie scores top job at global funds giant
Australian Mark Armour has beat out international competition to win the role as head of the $US200 billion plus worldwide institutional business for global funds management firm AMVESCAP, the company that owns Invesco.
AustralianSuper makes more appointments
AustralianSuper is gradually filling out its team and has started the new year with four new appointments across investments, marketing and finance.
Sword quits LUCRF chair, becomes acting GM
The chairman of the Labor Union Co-operative Retirement Fund (LUCRF), Greg Sword, has resigned and undertaken the position of acting general manager.
Mercer Wealth Solutions gets new boss
Mercer Wealth Solutions (MWS) has installed David Anderson at the helm, replacing Anthony Lowe who left in December.
Mass affluent survey shows resistance to super, reverse mortgages
Over 10 per cent of ‘mass affluent’ people will not use superannuation to fund their retirement, while reverse mortgages remain unpopular, according to brandmanagement’s latest Australian Consumer Finance Report.
GESB sacks rorters, makes switchers wait five days
The West Australian Government Employees Superannuation Board (GESB) has sought resignations from two staff, reprimanded another and continues to investigate 10 more following last year’s switching scandal.
CMSF Communications Awards entries closing soon
CMSF has extended slightly the deadline for entries in the 2007 CMSF Communications Awards to January 29, while registrations for this year’s conference, at the Gold Coast Convention and Exhibition Centre, March 26-28, will be closed off on February 26. The Awards are sponsored by Superpartners.
Muysken leaving Mercer for hedge fund manager
Expatriate Australian Bill Muysken, the former global head of research at Mercer Investment Consulting in London, is to join the hedge funds of funds manager Thames River Capital.
Perennial to open second office in Europe
Perennial Real Estate Investments (PREI) will open an Amsterdam office next month in preparation for slated German, Spanish and Italian legislation which will open up those countries’ REIT markets.
Former Finsuper CEO in new role at IFM
The former chief executive of Finsuper, Debora Jackson, has resurfaced in a newly created role running client service for Industry Funds Management (IFM).
