MBF-owned ClearView is looking at launching a number of products that assist retirees with meeting their health needs and will boost the number of planners based in its health centres.
Funds SA start belated search for CEO
The $9.5 billion Funds SA has only just begun its search for a chief executive following the departure of Rick Harper in June last year. Richard Smith, chief investment officer of the fund, has been acting since Harper’s departure but would not comment on why the fund had only recently begun the search.
Asset consultants prompt AllianceBernstein to hedge global fund
AllianceBernstein will launch a fully hedged version of its Global Style Blend fund next month, reacting to smaller investors who want to achieve their non-Australian dollar exposure through products rather than using a currency manager.
Structure for succession: how to end an era
For an industry based around the retirement of others it is surprising how few financial planners practice what they preach about preparing for the inevitable. Adelaide-based adviser Gerard O’Brien, explains how he came to grips with the problem.
Lower pricing and product proliferation to impact on planners
Institutional pricing permeating the retail market and a proliferation of investment products will present financial planners with major challenges, according to a presentation at the Professional Investment Services (PIS) annual conference in Hawaii.
Russell borrows best ideas for new concentrated equities fund
Russell Investment Group has brought to Australia a unique equities fund strategy which takes its overweight positions from the stock selections of other managers in its multi-manager lineup.
JUST watches Finsuper/STA merger before deciding its future
The board of JUST Super, the journalists and entertainers fund, will study the merger of Finsuper with STA/ARF before deciding on whether to consider going down the same route, according to the fund’s chair, Gerard Noonan, who was awarded the Trustee of the Year at last week’s CMSF conference.
Praemium to spend $10 million conquering the UK
Praemium intends to use $10 million of the $18 million it hopes to raise in its initial public offering to fund its expansion plans in the UK. According to the Praemium prospectus, the portfolio administration provider has made presentations to over 50 UK firms and has received expressions of interest from a number of them.
Government to leave commissions alone
Chris Pearce, the Parliamentary Secretary to the Treasurer, told I&T News yesterday that the Government has no intention of legislating to cap or outlaw commissions on financial services products.
Putnam gets ready to go it alone in Australia
US mutual fund giant Putnam Investments has hired a former investment specialist at Zurich Financial Services, Peter Walsh, to head up the group’s Australian retail business.
Sunsuper chief executive
Don Luke, the chief executive of Queensland multi-employer fund Sunsuper, has not resigned from the fund, as was incorrectly reported in last week’s I&T News, in a report on generational change among super funds. We apologise for the error.
Macquarie opens HK private equity office
The Macquarie Funds Management (MFM) alternatives division has hired its first staff in Asia, luring two private equity analysts away from Deutsche Bank to its Hong Kong office last week.
