Bravura Solutions is consolidating its recent acquisitions into a ‘next generation’ platform which it plans to launch in October. The platform will be for the entire financial services industry and already has a number of seed clients, according to the group’s new chief technology officer, Enda Mahoney.
IBM enters funds management game
IBM Australia has entered the funds management industry following the decision announced yesterday for Russell Investment Group to exit member administration.
Queensland planning group brings in the big guns
The transition from partner in large corporate accounting firms to running a relatively tiny financial planning operation has been an exciting one for Paul Bodimeade. He now heads up the medium sized financial services firm Managed Financial Strategy but the Queensland-based business has greater ambitions
MLC on commodities: maybe this time it’s different
While Australia’s fortunes have been closely linked to commodity prices over the very long term, Australian investors have been wary of commodities as an asset class – perhaps until now. MLC has issued a briefing note as to whether the latest bull market in commodities is a fad or here to stay.
Goldman Sachs JBWere Australian Infrastructure Wholesale Fund
GSJBWere launch an Australian-domiciled managed investment fund offering investors access to a portfolio of high-yielding listed infrastructure assets.
QIC launch 2 funds for wholesale investors; a multi strategy fund…
QIC Tactical Return Fund
and a diversified multi-manager, multi-strategy fund
QIC Global Macro Fund
Shareholders and management big winners in AWM/Select merger
Everyone’s a winner at Australian Wealth Management (AWM) and Select Managed Funds judging by the share price hikes at both companies since their merger was announced last week.
… while Zurich exits industry fund admin
Zurich Financial Services Australia has decided to exit the member administration business for big super funds, outsourcing its only industry fund, the Accountants Superannuation Fund, to the administrator and trustee of Recruitment Super.
ASIC promises sensible attitude to policing new regs
The Australian Securities and Investments Commission (ASIC) will adopt “a reasonable and pragmatic approach” to compliance with the recently-introduced amendments to the Financial Services Reform Act it said yesterday.
Morningstar spends $83 million in institutional foray
Morningstar Inc, the recently listed US research firm, has paid $US83 million to buy asset allocation firm Ibbotson Associates – a deal that will help its Australian subsidiary expand into the fund-of-funds and superannuation markets.
Skandia drops defence pretence
Skandia, the pride of Sweden’s financial services sector, has finally admitted the obvious and called for an Extraordinary General Meeting to consider a new board in the wake of Old Mutual’s takeover bid.
