The Institute of Chartered Accountants (ICAA) is drawing up a ‘preferred list’ of dealer groups for its financial planning members but will not be rating licence-holders, according to its head of superannuation and financial planning, Hugh Elvy.
Puzzle solved: client is centrepiece of Baker business
Bruce Baker has been one of the most vocal advocates of the rights of boutique financial advice businesses in a world dominated by large dealers. True to his individualistic style, Baker credits the success of his own business, Puzzle Financial Advice, to the novel approach of putting clients first.
Why asset consulting fees need to rise
At its ‘Ideas Exchange’ (IX) conference in Melbourne last month, Watson Wyatt Worldwide flagged an increase in the use of performance fees, but not just for managers – for consultants too.
How restrictions on managers lead to lower alpha and style biases
There may be a shift to relaxing constraints on investment managers, through rising use of absolute returns funds and global tactical asset allocation, but for the bulk of assets under management constraints remain. A recent paper by Charles Jacklin, president of Mellon Capital, shows how constraints on managers lead to inefficient investment outcomes.
Vanguard servicing more offshore clients from Melbourne
Vanguard Investments has boosted its senior management with the return to Australia of the former heads of the company’s European and Japanese operations – a move likely to lift the $7 billion of offshore funds already serviced by the Melbourne headquarters.
Mercer throws weight behind new-age multi-strategy products
Mercer Investment Consulting has given tacit approval for the international trend towards single-manager controlled multi-strategy funds of funds (FoFs), through the expansion of its research effort into the area.
HFA research arm paying dividends
The formation of a separate research division by HFA Asset Management two years ago is starting to pay dividends – the hedge fund operator having won a large institutional mandate from the Vision Super super fund.
Skandia to rev up rebates and block Old Mutual takeover bid
Fund managers on the Australian Skandia platform are likely to face an even tighter squeeze on their margins as the group’s global parent goes into overdrive to fend off a hostile takeover bid from South African financial services giant Old Mutual.
Two new managers join Intech in HOT line-up
Intech Investment Consulting has boosted the number of managers in its High Opportunities Trust (HOT) to nine, adding Hong Kong-based global equities manager Axiom Investment Management and US-based global equities boutique Altrinsic Global Advisers.
Australian Unity searches for life in new asset classes
Australian Unity Investments (AUI) has put the launch of a diversified yield fund on the agenda for next year, and is also looking to forge a retail distribution alliance with a large cap Australian equities manager.
Golden Bull Hall of Fame winner urges industry to cut the fat
Anton Tagliaferro, the founder and chief of Australian equities boutique Investors Mutual, has urged the funds management industry to eliminate excesses.
Dealer groups to get ICAA once-over
The Institute of Chartered Accountants (ICAA) is drawing up a ‘preferred list’ of dealer groups for its financial planning members but will not be rating licence-holders, according to its head of superannuation and financial planning, Hugh Elvy.
