Australian infrastructure fund manager Palisade Investment Partners is seeing attractive opportunities in mid-sized infrastructure deals, announcing it has acquired a 50-per-cent stake in the Victorian regional port of Portland for $66.5 million. Palisade purchased the stake in the port, which provides a transport hub for natural resource industries such forestry, grain and mineral sands, from … Read more
Zebra Capital Management, the fund-management business started by investment luminary Roger Ibbotson, has gained a $35-million mandate from an Australian investor for its strategy focusing on less-liquid stocks. Zebra, which manages $613 million globally from its Connecticut base, garnered the mandate from a multi-manager fund in May for its Australia Liquidity Return Strategy. The company declined … Read more
Business process outsourcing specialist MainstreamBPO has picked up the registry business of the listed wealth-management company Perpetual for an undisclosed sum. The registry division represents a small part of Perpetual’s Corporate Trust division, and just 0.2 per cent of its total revenue. One staff member will transfer from Perpetual to MainstreamBPO. Existing clients will be … Read more
Industry superannuation funds could lose their claim on billions in new cash flows as the Productivity Commission seeks a new way of choosing workers’ default funds based on MySuper. Industry funds’ preferred status saw them gain much of the $3.5 billion in superannuation payments made through industrial awards in 2010, according to the Productivity Commission. … Read more
The global bond market is in the midst of a giant step in its evolution from a market dominated by developed-country debt to a much more diverse market that better reflects today’s global economy. Evolution is a long process, but the sovereign-debt challenges in Europe suggest the bond market’s evolution is picking up speed. Accordingly, … Read more
The controversial state of financial regulation around the globe, the difficulties of green investing and watching asset consultants go head-to-head in front of a room full of potential clients were some of the highlights of the Australian Council of Super Investors (ACSI) annual conference. Held in Melbourne last month, the conference had a strong focus on … Read more
WorkCover SA and Suncorp in New Zealand have signed National Australia Bank (NAB) for custodial services following recent tenders. NAB and fund administrator MMc Ltd gained Suncorp’s New Zealand business, which provides general and life insurance, banking, superannuation and investment services, in a strategic partnership, according to a June 27 NAB statement. NAB, which is … Read more
Global transfer agency and wealth-management software provider Bravura has announced that asset consultant Russell Investments will use its Sonata software solution on its new retail wrap offering. The global asset consultant recently launched its Russell iQ suite into the retail wrap market, with the platform allowing retail clients and advisers to invest directly in Russell’s … Read more
Ascalon Capital Managers’ head of investments, Nelson Lam, is to leave the business to join partner H3 Global Advisors as chief operating officer. Lam will join H3 on July 16. Ascalon’s head of boutique partnerships, Jason Collins, says Lam had been “intimately involved with H3” for a number of months and will join the business … Read more
Russell Investments plans to rank managers quarterly on their after-tax performance, with the results informing the consultant’s manager-selection decision-making processes. Raewyn Williams, Russell’s director of after-tax investment strategies, says the consultant has launched an after-tax benchmarking survey, which it sent out to more than 110 Australian equity managers this week. The survey aims to provide … Read more
Robin Solomon will lead the Asia-Pacific business of Mercer Sentinel following a seven-month period in which six staff members, including principals and senior associates, exited. Solomon, a Sydney-based principal with the investment operations consultancy, will replace Lounarda David, who led Sentinel for 13 years before leaving in late April, as new hires are made to … Read more
Listed wealth-management firm Perpetual has started a global executive search to fill the newly created position of group executive, investments, to oversee the firm’s Australian-domiciled investment-management teams. The position has been created as part of the Transformation 2015 program, which is designed to cut $50 million from the company’s cost base by the start of … 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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