The most successful Australian asset managers are those who manage their cost-to-income ratios at 55 per cent or less, according to a survey by consultants Investit. Australian asset managers are among some of the best run fund-management businesses in the world and for a short-time may enjoy not having to take into account new regulations … Read more
When Jonathan “Jonty” Pain was growing up in apartheid South Africa, he shocked his father by leaving the nation’s most prestigious all-white male boarding school, Hilton. Pain wanted to go to the multi-ethnic school, Waterford in Swaziland. But the school was dismissed by his father as a hangout for “drug addicts and hippies”. Against his … Read more
Brian Bissaker, Colonial First State’s chief executive, has been “made redundant” after a decade of service at the $59-billion asset manager. “I have decided to separate the advice and Colonial First State businesses, and have both of these leadership roles report directly to me,” says Annabel Spring, group executive of wealth management at Colonial’s parent … Read more
Victorian Funds Management Corporation, the fund for the state’s public authorities, increased its funds under management by $1.8 billion to $36.8 billion in the three months to March 31 after its stock, infrastructure and bond investments all performed well. The Melbourne-based fund said in a statement that half its assets are invested in shares in … Read more
Australia’s budget was a disappointment for asset managers, according to the Financial Services Council (FSC). The government disagrees, saying its policies have improved fairness, sustainability and efficiency in superannuation. Asset managers, like many who run companies, expected a tax cut in the budget, says Martin Codina, director of policy at the FSC. The lack of … Read more
Franklin Templeton Investments Australia Ltd. has hired Joe Marassa as head of marketing. Marassa joined the company last month and is working from Templeton’s Sydney office. He previously worked at Colonial First State and ING Investment Management where he was head of marketing. “This appointment is another important step in our broader plans to expand … Read more
In 1993 Northern Trust’s Steven Fradkin was looking for office space in Sydney. He liked the potential growth of Australia’s mandated-pension-fund market, but wasn’t certain that custodians could meet the demands of Australian tax and foreign investment-fund reporting in a quality way. “The market has always been attractive,” says Fradkin. “It is a more complex … Read more
Perennial Value Management Ltd., the $19 billion-asset manager, has hired Sam Berridge as a resources analyst concentrating on researching small mining companies. Berridge is part of a Perennial Value Small Companies team and started work at the company on April 30, a statement says. He was previously a metals and mining analyst at Royal Bank … Read more
Tora, the software trading platform, says hedge funds want integrated trading solutions that incorporate risk and compliance amid a backdrop of new investment products and regulatory change. Robert Dykes, Tora’s chief executive, says changes in market structures in Asia means that many asset managers are recognising the need to have their personnel based in the … Read more
BlackRock Inc., the world’s largest asset manager, does not expect markets to return to low volatile, highly liquid conditions that characterised markets before 2008. “Portfolios today must be more dynamic and more diverse than ever before,” says Michael McCorry, head of BlackRock’s Australian scientific active equities business in a statement. “It is unlikely we will … Read more
NGS Super has seeded an Australia-domiciled catastrophe bond fund managed by Fermat Capital with $30 million. NGS Super, the $4.4-billion superannuation fund for workers in non-government schools, invested in the Fermat ILS Yield Fund to diversify from equity risk and gain the double-digit yields that catastrophe bonds have delivered in past years, says Anthony Rodwell-Ball, … Read more
Cbus will show director and executive pay, individual stock holdings in top-20 companies and administration costs amid other business details in future annual reports and on its website. The $17-billion industry fund for building and construction workers announced on Friday that it would disclose the following business details in annual reports from this September onwards: … 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.
