VicSuper, the $9 billion not-for-profit Victorian public sector fund, has chosen two US funds to manage $220 million of investments in government, corporate and securitized bonds, bank loans and emerging market debt. Los Angeles-based asset manager Payden & Rygel was awarded a $110 million mandate by Melbourne-based VicSuper. The Melbourne-based fund also gave $110 million … Read more
When Robert Bedwell was talking to J. P. Morgan Chase about a new job that would help manage relationships with the bank’s biggest asset management customers, he was concerned that he would not get the cooperation of the 1,400 people in Australia and New Zealand working for the company. Bedwell fears have not been realised. … Read more
Australian superannuation funds will gradually shift their portfolios more toward bonds as people retire and demand regular income and less risk from their investments, says Pacific Investment Management Co. Australian bonds will continue to attract foreign investors who hold about 80 per cent of Commonwealth bonds, says Robert Mead, a Pimco portfolio manager. Australia’s net … Read more
Franklin Templeton Investments Australia has hired Stuart Devlin as a Melbourne-based retail account executive as it seeks to garner more money from individual investors. “Franklin Templeton is building out its retail team after acquiring Balanced Equity Management,” says Maria Wilton, managing director of Franklin Templeton in Australia. Andrew Sisson, the founder of Balanced Equity Management, … Read more
AMP Financial Services’ merger with AXA Australia saw it claim the greatest market share in 2011, as AustralianSuper reaped the highest net inflows from its expanding membership, analysis by research firm Tria Investment Partners shows. Mergers were the strongest force for superannuation fund growth in 2011, enabling AMP Financial Services to claim 5.1-per-cent market share … Read more
The responsibilities of superannuation trustees are many and varied. One of these responsibilities is being accountable for the robustness of the risk, compliance and operational processes of service providers appointed by the fund. The position of the Australian Prudential Regulation Authority (APRA) on this matter is very clear. Accountability for any functions, including investment management, … Read more
Arguably there is no richer source of metaphors than sport. We admire the skill, effort, dedication and endurance of the contestants. Sport mirrors certain aspects of our lives. But what can investors learn from sport? In his 1958 book The Art of Cricket, Sir Donald Bradman writes about several important lessons for cricketers from which … Read more
The Australian government is considering whether to provide tax relief to superannuation funds that want to merge but have suffered investment losses they don’t want members to shoulder after a merger. “The government is considering requests from funds for further merger relief,” says the office of Bill Shorten, the Minister for Financial Services and Superannuation, … Read more
Building boats is somewhat of a tradition in the Steele family. Rick Steele, the chief executive of Eight Investment Partners, and his brother made sailing dinghies growing up on the banks of Tasmania’s Tamar River. Their father constructed a boat out of Celery Top Pine. Now Rick Steele wants to build an asset management firm … Read more
J.P. Morgan Chase Bank has hired six new staff for its treasury services unit as it seeks to take business away from Australia’s biggest banks by selling global financial products to companies. The New York-based bank by the end of the year will have spent about $4.3 billion globally since 2009 on treasury and securities … Read more
AMP Capital will seek to raise 1 billion euros to invest in Irish infrastructure and has hired David Rees to co-head asset management at its London-based European direct infrastructure investment team. Rees, who worked at network energy company National Grid, will have joint responsibility for European infrastructure asset management with Rob Verrion. Both men report … 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.
We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
