InvestmentLink has bought 50 per cent of commissions software firm Dealer Management Systems (DMS) with the option to purchase the remaining half in 2008 and has flagged more acquisitions to come.
Perpetual brings change agent on board
Perpetual’s newest board member, Elizabeth Proust, has “demonstrated an ability to turn round organisations and to make major changes and efficiencies while delivering customer services”, according to Robert Savage, the company’s chair.
Ex FMC head turns up at Bravura
Wealth management and insurance software provider Bravura has snaffled the former managing director of rival firm FMC Software, Enda Mahoney, to head up its technology strategy.
Moody’s finds performance pressure leads to risk enhancement
Fund managers are adopting riskier strategies as the pressure to perform becomes more intense, according to a new survey of the industry in the Pacific Rim region conducted by ratings agency Moody’s.
Union fund loosens investment strategy
The $1.7 billion Labor Union Cooperative Retirement Fund (LUCRF) will announce a revamp of its investment structure next month which will involve some considerable changes in its manager line-up.
Russell to tailor Alpha product for super funds
Russell Investment Group is looking at tailoring its multi-manager Irish-domiciled Alpha transport product for Australian superannuation funds in the second half of this year.
Growth at a reasonable pace: the key to a successful start-up
Even with 20 years experience in the industry, building a financial planning business from scratch has been an eye-opener for Sandra Wills. Wills tells I&T News how she has overcome the initial challenges of running her own practice and has positioned it carefully for the “inevitable” growth to come.
Drop the crystal ball, stay diversified
The average diversified balanced portfolio returned 14.6 per cent after taxes and fees last calendar year and, while this was below the return from Australian shares, it shows the importance of diversification. Now is not the time to switch to last year’s best performing asset class, according to Shane Oliver.
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.
