Federal Court blow for Zeptonics

Award winning Sydney trading-technology company, Zeptonics, has been ordered to cease using its suite of trading products in a Federal Court action brought by former colleagues. The Federal Court’s Justice Michelle Gordon has ruled in favour of another trading-technology company, Zomojo Ltd, which claimed that its former co-managing director and head of research, Matthew Hurd, … Read more

Maverick Video Series: Gonski

In the first of its Maverick Series, we interview David Gonski, chair of the Future Fund, in a six-part series. Here, Gonski talks about governance and his role as chair. David Gonski was appointed chair of Australia’s $80 billion sovereign wealth fund, The Future Fund, in April 2012 for a five-year term, he is also … Read more

AMP Capital takes direct route to China

There is more to the China investment story than buying mining stocks such as BHP and Rio as proxies, according to AMP Capital fund manager Patrick Ho. Hong Kong-based Ho is in Australia this week to meet with investors to promote his fund, the $330-million AMP Capital China Growth Fund, which is listed on the … Read more

Barangaroo – the Wall Street of Australia?

The $6-billion Barangaroo development on Sydney Harbour was set to be the “Wall Street or Canary Wharf” of Australia and become a new centre for the country’s financial industry, a seminar on the project has been told. Peter Collins, the former New South Wales Liberal Party leader who is the chair of the Sydney Financial … Read more

The Probyn outlook from State Street

“Everyone thinks the Australian dollar is overrated, but it won’t crack this year,” says the chief economist of State Street based in Boston, Chris Probyn, giving Australian investors a great opportunity to buy overseas assets. “On purchasing power parity, everyone thinks the Australian dollar is overrated. But markets can stay irrational longer than investors can … Read more

Election train anathema to finance industry

Prime Minister Julia Gillard says the marathon election campaign which will dominate public life this year is all about delivering certainty, but the length of the campaign risks leaving the financial industry hanging on several key issues. There is no doubt the Labor government has delivered some significant financial reform: there has been Future of … Read more

Building inhouse team at State Super

State Super is building its inhouse team, appointing former AMP Capital chief investment officer, Mark O’Brien, to general manager of investments. In a move that echoes a rising industry trend of hiring outside the sector, State Super’s chief executive, John Livanas, says industry silos are being broken down and it’s a good thing for the … Read more

Super sidles up to social media

Industry funds are taking to social media engagement, but an aversion to risk and leaner resourcing means Australian funds still lag behind other countries. An analysis of the social media footprint of 34 super funds shows that only approximately one-third of funds have a searchable social media presence, with levels of engagement varying significantly. “There’s … Read more

An optimal framework for pension plans

The general framework for occupational pension plans can be described as intra- and intergenerational hybrid pension plans, with risk-sharing mechanisms between members and with sponsors. We define the degree of hybridity of a pension plan as the extent of risk sharing with the sponsor. At one end of the spectrum lie traditional defined-benefit (DB) funds, … Read more

Plane old Castlereagh

When Nicholas Allen, the friendly new face of fund manager Eaton Vance, bumped into me in the street and asked me if I had been behaving myself, he didn’t know the half of it. Sadly, Nicholas and I were traveling in different directions as he assiduously expended shoe leather in the cause of his new … Read more

IFM ramping up GDP-linked infrastructure

Infrastructure investor Industry Funds Management believes that 2013 could be a good year to invest in GDP-linked assets after significant investment in regulated assets in recent years. Kyle Mangini, IFM’s Melbourne-based head of infrastructure, says that valuations for GDP-linked assets, such as airports, seaports and toll roads are at an attractive point in the cycle, … Read more