The Future Fund is scheduled to be seeded with $18 billion by July 1 next year, but the legislation introduced to Parliament last week is scant on details as to how the fund will operate.
Five Oceans World Fund
Five Oceans Asset Management launch a high conviction fund for retail & wholesale investors.
JFI Growth Fund
James Fielding Infrastructure launch a new fund for the wholesale market.
Merrill Lynch Customised Portfolio Service
Merrill Lynch launch a web based SMA for retail & wholesale investors.
Legal stoush looms over use of ‘super ratings’ on search engines
The competitive world of superannuation ratings houses may spill over into the courts with a dispute between SuperRatings and Heron Partners over some internet advertising on Yahoo and NineMSN.
BT opens commodities fund to institutional market
BT Financial Group has opened up its in-house commodities investment fund to the institutional marketplace, broadening its alternatives product range beyond it hedge funds-of-funds business
Legg Mason arrives in Australia with diverse product range
Legg Mason has completed its purchase of the former asset management businesses of Citigroup and is set to operate under its two main brands in Australia – Legg Mason and Western Asset.The firm is currently in discussions with the various funds management branches of the group to see what products will be distributed in Australia. … Read more
A New Paradigm in Funds Management’ – 22 conference sessions in one day
The Investment & Technology 2006 conference –‘A New Paradigm in Funds Management’ – is to be held at the Sydney Hilton Hotel on February 7, with about 30 speakers covering 22 sessions in one day. A special half-day workshop on multi-manager management, conducted by Cerulli Associates, will be held the following day.
BNP wins WA insurance fund custody contract
The $2 billion Insurance Commission of Western Australia (ICWA) fund has appointed BNP Paribas Securities as its new master custodian, replacing National Custodian Services, after a review and tender process.
Online future for planner-driven risk modelling tool
A new web-based version of Merlea Investments’ risk models is being tested now and will be rolled out in February next year.
NZ minnow beats DSTi to become $250 billion baby (wrap)
As flagged in the February 2005 issue of Investment and Technology, upstart Kiwi wrap provider First NZ Capital will leapfrog its Australian rivals to become one of the biggest portfolio administration firms in the world following a deal signed with UK insurance and investments giant Standard Life.
Skandia weighs up wisdom of front-end attack
Skandia is considering buying or building its own adviser financial planning software, according to Ross Laidlaw, chief executive officer. The group will closely watch industry developments over the next 12 months, Laidlaw told fund managers at a strategy briefing last week.
