Superannuation funds are concerned about product compliance around new demands on pre and post-tax reporting of performance, says the chief executive of DST Global Solutions, which provides software for asset managers. “We anticipate a lot of changes around tax reporting,” says Tom Abraham. “There will be a whole industry around tax minimisation that will come out.” … Read more
Broadly speaking, there are three kinds of sovereign wealth funds (SWFs): natural resource funds such as those of Abu Dhabi and Kuwait, foreign reserve funds such as China’s and Singapore’s, and pension reserve funds, such as those we have in Australia and New Zealand. In view of the rapid growth of SWFs, it is important … Read more
In late 2005, Sunsuper trustee Peter Annand spoke frankly with the fund’s new chief investment officer. “He said the fund is $6.5 billion and growing and that we have to set up some delegations,” recalls David Hartley, who has been Sunsuper’s CIO for more than six years now. “At the time, every investment decision was … Read more
AMP Capital will acquire $232 million of infrastructure assets that include six new schools in Adelaide. The South Australian Schools Public Private Partnership is to be purchased by AMP Capital’s Community Infrastructure Fund and Core Infrastructure Fund plus other investors from Land Lease and Commonwealth Bank of Australia. The schools include primary, middle, secondary, special … Read more
Leigh Watson, executive general manager for asset servicing at National Australia Bank, is filling a page with doodles with his employer at the centre. Watson, head down, drawing neat boxes on the paper in front of him, rejects suggestions Australia’s biggest custodian is losing its grip on its customers following decisions by QSuper and SunSuper … Read more
In 2009 Adam Hill was in Papua New Guinea, working in a Port Moresby accountancy office by day and coaching rugby union by night. Then the country’s national team the Pukpuks, or crocodiles, called. They didn’t want a coach. The Pukpuks wanted Hill, who had played more than 100 first-grade games for Sydney rugby club … Read more
Superannuation funds are concerned about product compliance around new demands on pre and post-tax reporting of performance, says the chief executive of DST Global Solutions, which provides software for asset managers. “We anticipate a lot of changes around tax reporting,” says Tom Abraham. “There will be a whole industry around tax minimisation that will come … Read more
Nick Basile is on the hunt for a replacement. The acting-chief executive of real-estate investor Presima is travelling outside Australia seeking a replacement, says a statement by Presima’s controlling shareholder National Australia Bank. Basile is a director of various units of the bank and a non-executive director of a number of National Australia Bank affiliates. … Read more
PacWealth Capital, a Port Moresby-based investment management and advisory firm, has been given a $1.1 billion mandate by Papua New Guinea’s National Superannuation Fund. “The mandate is evidence of the evolution of financial services in PNG that is being driven by wealth creation in a range of industries including mining,” says Ian Jenkins, PacWealth’s chief … Read more
Challenger’s asset-management-business investor Fidante Partners has acquired Asian asset manager MIR Investment Management. Sydney-based Challenger did not disclose how much it paid for MIR, its eleventh boutique asset manager. MIR was founded by Michael Triguboff, who worked for George Soros and was a managing director at Lazard. Tirguboff started MIR in 2003. He has relinquished … Read more
When Heath Behncke was at the Australian Institute of Sport’s water-polo program, he learned about hard work and tough decisions. Behncke hoped to make it to the Olympics as a member of the Australian water polo team. But the Tamworth native thought he was outside the 13-man group that would be picked for the Olympics … Read more
Cyre Trilogy Group says it does not like fights. The Sydney-based property-investment group says its effort to secure shareholder approval to replace APGF Management and become the entity responsible for four Austgrowth property-unit trusts is because shareholders have demanded it. A year ago Trilogy won control of six Austgrowth property funds, valued at about $45 … 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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