Post-cost relationships key for custody

It’s not primarily a matter of cost. In Australia’s near-saturated custodian marketplace, superannuation funds have hit the spotlight on custodians’ primary service offerings and relationship engagement as they go out to tender. Jo Townsend, general manager of investments at REST Industry Super, says the fund felt it was “appropriate to go back to basics” in the … Read more

Does reform spell the end for the OTC market?

The global reforms to the trading, clearing and settlement of over-thecounter (OTC) instruments have been well published and there is a pleasing level of industry awareness over both the requirements and the likely implications to business operations. However, many consequences of the reforms are yet to be fully identified and there is the risk that … Read more

Remember to fix the brakes, says Freeman

Tony Freeman uses a motoring metaphor to explain the complex relationships between back, middle and front-office IT solutions in a period of major global change. “There is a big dichotomy, where the investment is upfront and not at the back,” says Freeman, who is visiting Australia in his role as global head of industry relations … Read more

Remember to fix the brakes, says Freeman

Tony Freeman uses a motoring metaphor to explain the complex relationships between back, middle and front-office IT solutions in a period of major global change. “There is a big dichotomy, where the investment is upfront and not at the back,” says Freeman, who is visiting Australia in his role as global head of industry relations … Read more

Custody calls on asset managers

Only 15 per cent of the world’s assets under management had been fully outsourced to investment administrators, creating a growth opportunity for global custodians. Joe Antonellis, Boston-based vice chairman of State Street, says that a combination of regulatory change, a push for transparency and continued asset diversification is creating a need for “major administration system … Read more

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