National Australia Bank’s Asset Servicing business has added another $300 million to its assets under custody after winning a contract with Adelaide-based fund manager, Investment Science Asset Management. The mandate win comes after a competitive tender process from Investment Science, undertaken by consultants Foxrock, and is the NAB’s second mandate from a mid-ranking fund manager … Read more
Governments have been talking about the need for a retail bond market for some years now, but are investors and issuers really interested? It’s a nice theory. Australian retail investors are too focused on equities and need access to some good quality fixed-income investments. Super funds of all sizes – industry and self-managed – should … Read more
When thinking about the accumulation phase and post-retirement, David Bell uses the analogy of car design. “If you are trying to design a new model of car and put two designers in separate rooms and told one to design the front and the other to design the back, there’s a risk you’d end up with … Read more
When CareSuper and Asset Super sat down to work out their post-merger investments, they quickly found that the two funds together had around 40 managers – and only one of them was in common. They had a common custodian, in National Australia Bank asset servicing and the same administrator, in AAS, but rationalising and then … Read more
How we look at retirement is due for government review, says REST Industry Super chief executive Damian Hill, as new research shows a generation of Baby Boomers grossly underprepared for the next phase. “The government has certainly flagged that it wants to engage in that sort of conversation to paint that part. We’ve been very … Read more
Ethical investor UCA Funds Management has appointed former Hunter Hall executive, Michael Walsh, as executive director and chief executive officer. Walsh has more than 30 years of funds and risk management experience, including 12 in the ethical funds sector, and has served as a non-executive director, senior executive and adviser to several companies active in … Read more
My definition of a bad day is when I have to pay for my own lunch and so far I’ve been back at work for two weeks and have had to buy it for myself every day. One day, I even brought in sandwiches in the ancient family Tupperware and I feel like a stalker … Read more
Around US$500 million in fresh mandates have already flowed into CFSGAM from North American investors following the fund manager’s inclusion on Russell Investments’ Global Listed Infrastructure multi-manager platform. It is understood that CFSGAM has replaced Macquarie as an infrastructure manager on the platform. Peter Meany, CFSGAM’s head of global listed infrastructure (pictured left), said the … Read more
United States fund manager Neuberger Berman, which manages around $775 million in funds for Australian institutional investors, has added its voice to the chorus claiming that emerging markets will be a key investment theme of 2013. Alan Dorsey, the New York-based head of investment strategy and risk for Neuberger Berman, says that 2013 could herald … Read more
The optimism that greets the new year is not exactly brimming over in the offices of Australia’s investment banks. After a lacklustre 2012, prospects seem no better this year, and what was once a supercharged industry running on a flow of deals and bonuses has become one of the underperformers of the Australian financial industry. … Read more
An absence of appropriate ethical culture at financial services firms has been the biggest contributor to the lack of trust in the finance industry, according to a global survey of CFA Institute members, which attracted more than 6000 responses. Matt Orsagh, director of capital markets policy at CFA Institute, says to restore integrity in global … Read more
The “belligerent” attitude of News Corporation boss Rupert Murdoch towards governance reform has prompted First Super to exit its investment in the global media company, the first time the fund has ever screened out any company from its portfolio. Michael O’Connor, chairman of the $1.7-billion First Super, told IM Online that the fund had been … Read more
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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