Bernstein has appointed James Crawford, formerly head of strategy and business development at IAG Asset Management, as senior portfolio manager.
Perpetual makes limited changes
Perpetual Trustees Australia Limited has renamed itself Perpetual Limited, dropping ‘Trustees’ from its name, as part of efforts to rebrand the organisation as an ‘international diversified financial service group’.
Getting over yourself: why joining a dealer needn’t be painful
Like most self-licensed advisers Charlie Karalouka was forced to rethink his business model as the reality of FSR hit home. After much soul-searching Karalouka turned in his licence and found a dealer to cure his compliance headache without the nasty side-effect of institutional control.
Why Aussie fixed interest funds are still relevant
Traditional Australian bond managers, who seek to beat the market through duration bets on interest rates, have been losing favour with investors for several years, but, like Mark Twain, reports of their death may be premature. Ross Gustafson, head of fixed interest for Tyndall Investment Management, says that duration management is still the dominant source of alpha in most specialist bond portfolios.
Mercer issues global warming warning
Mercer Investment Consulting has taken the unusual step of warning super fund trustees of the financial and other risks associated with global warming and suggested funds managers needed “a gentle nudge” to think through the link between climate change and financial risk.
Orc Software takeover of FIX provider sends message to IRESS
Cameron Systems, the provider of FIX (financial information exchange) messaging platforms in Australia and elsewhere, has been acquired by Stockholm-based listed trading systems company Orc Software for $US32 million.
Big three managers predict good times to roll on
The three largest funds managers – Colonial First State, MLC and AMP Capital Investors – have issued generally positive reports about the outlook for markets this calendar year, with Colonial and AMP the most bullish on Australian shares.
SimCorp gets the nod for Macquarie backoffice
Macquarie Funds Management has chosen SimCorp Dimension as its investment accounting platform.
Future Fund to follow US endowments’ investment philosophies
David Murray, the Future Fund chairman, believes US university endowments are the “standout” investment funds in the world. He said, in his first interview on how the Fund would operate, that endowments provided “the best example of what we have to try to achieve”.
South Africa 1, Sweden 0: Old Mutual scores in Skandia shoot-out
Skandia looks set to lose its bitter takeover battle against South African insurance and investment firm Old Mutual this week as the third acceptance deadline looms. Old Mutual extended the deadline for Skandia shareholders to accept its $US5.6 billion offer to January 12 after securing almost 65 per cent of the company by its earlier cut-off date of December 16.
IFSA to upgrade conflicts policies
The Investment and Financial Services Association (IFSA) should have new conflicts of interest guidelines in place “within a few months”, according to the organisation’s chief executive, Richard Gilbert.
Perennial outbids CFS for property team
Perennial has poached the entire Colonial First State (CFS) property securities team, headed by Stephen Hayes, to launch a “specialist property boutique” fund.
