The Australian dollar is as much as 30 per cent overvalued and Australian investors should consider their currency exposures on the back of slowing growth in Asia and falling demand for commodities, says the global head of currency management at State Street Global Advisors (SSGA). Boston-based senior managing director Colin Crownover says SSGA’s analysis indicates … Read more
So-called alternative hedge-fund beta allows investors to gain the returns generated by hedge-fund strategies without the pressures of finding alpha, says Fama family professor of finance at the University of Chicago Booth School of Business, Tobias Moskowitz. Moskowitz says there are three components to hedge fund returns: alpha, or the unique skills of managers; broad … Read more
CareSuper and Asset Super will merge into a $6.4-billion superannuation fund on October 26 this year after keeping tax credits worth more than $30 million. The funds’ initial plan to merge on June 30 was stalled amid uncertainty that the federal government would not allow merging super funds to offset capital gains tax (CGT) losses … Read more
The $6-billion Qantas Superannuation Plan has hired Chris Grogan, the former acting-general manager of investments at WorkCover Authority of New South Wales, to reduce the costs of investing. Grogan and Matt Wacher, who joined the fund in February from Russell Investments, are responsible for limiting foreign exchange and tax losses and improving the fund’s risk … Read more
Some of the most dangerous risks that investors face today are reported in news headlines. Underpinning stories about Greece’s potential exit from the shared euro currency and anaemic United States economic growth is a key theme that Patrick Farrell and his investment team use to oversee $9.8 billion in multi-manager funds at Advance Investment Solutions. … Read more
Despite great predictions for the ETF market, growth of the low-cost index-based investment vehicles has slowed among retail investors and still has not caught on in with institutions. The average monthly value of exchange-traded funds (ETFs) traded on the ASX fell below $500 million in the 12 months to May 31, and now stands at … Read more
Attractive spreads of more than 300 basis points above the bank-bill swap rate have seen increasing interest from investors in infrastructure debt, according to Industry Funds Management’s (IFM) head of debt investment, Robin Miller. Miller’s team recently finalised a $90-million debt investment in a senior secured-debt facility to refinance the debt of ConnectEast, owner and … Read more
Investment management firm Eaton Vance has agreed to acquire 49 per cent of Montreal-based Hexavest in a move with implications for the local market. Canadian money manager Hexavest has $1.5bn in assets under management in Australia with some large local clients. On completion of the transaction, Eaton Vance will assume primary responsibility for Hexavest’s new … Read more
With 12 years at Deutsche Bank under his belt, a stint managing money for the Packer family and a successful term at ING Investment Management, Gian Pandit arrived at AMP Capital Investors last November with high hopes and high expectations. As senior portfolio manager in AMP’s Fundamental Equities team, and as manager of the $100-million … Read more
Liquidnet, the so-called dark-pool network provider, has set a new trading record in Australia during May, making more than $1 billion in member trades. The head of Liquidnet Australia, James Chatfield says the average size of trades has continued to increase, climbing beyond the $1.6 million mark in May. After four years of operation in … Read more
Frontier Investment Consulting, which advises on $117 billion in assets, will sell its proprietary research of investment managers through an online database called Mercury. Melbourne-based Frontier will offer Mercury to clients and non-clients seeking information and ratings on 1600 managed funds run by 1467 investment managers. The subscription database, available from October, will also contain … 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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