Super funds need to understand corporate governance in Asia as they continue to invest in the region’s financial markets.
Future bright for fixed-income professionals
Stuart Dear is at a famed Sydney restaurant trying not to appear too happy. The Aberdeen Asset Management portfolio manager is part of team that manages $14.5 billion in Australian bonds and is ranked number one by Morningstar. Aberdeen’s current 11-person team has over 10 years delivered a 7.2-per-cent annual gross return, according to Morningstar’s … Read more
Chris Clayton joins MLC
Chris Clayton, who was in charge of Acadian Asset Management’s Australian business, has left the firm and joined MLC as head of asset management sales. Clayton left Acadian earlier this month after joining in September 2005. Andrew Hair has been selected to take Clayton’s place on a temporary basis. Colonial First State Investments, Acadian’s joint-venture … Read more
Rob Sullivan leaves Treasury Group
Rob Sullivan, who was head of institutional sales at boutique fund manager-backer Treasury Group, has joined rival NAB Invest. Treasury Group and NAB Invest both have ventures with asset managers in an effort to attract money to investors interested in investing with boutique firms. A Treasury Group spokesman confirmed Sullivan’s departure. NAB Invest declined comment.
AGF to host superannuation funds in New York
Canada’s AGF Management, which manages about $45 billion, has opened a Sydney office that will seek to attract Australian superannuation and individual investors into its funds. As part of its efforts to attract money, Toronto-based AGF will host 12 Australian superannuation funds in May in New York. There it will present details of its investment … Read more
Future Fund appoints David Gonski chairman
David Gonski, said by many to be the best-connected man in corporate Australia, will become chairman of the $73 billion Future Fund next month. Founded in 2006 to meet public sector superannuation liabilities, the fund has averaged 4.2 per cent returns per annum. The 58-year-old Gonski will assume the role at the Melbourne-based fund on … Read more
Brigitte Smith’s risky attractions
Some years ago Brigitte Smith was in Idaho with a US Army general. They were trying to clean up a toxic waste site. “A teaspoon of this stuff will kill you,” the general told Smith as she sought samples of toxic waste. “Be careful.” Smith, the co-founder of GBS Venture Partners, is now used to … Read more
SimCorp expects financial software investments
Torben Munch, chief operating officer of Danish investment-management software company SimCorp, likes to tell a story about his firm’s relationship with Lehman Brothers. The Wall Street firm was a SimCorp client when it collapsed in September 2008. Munch found Lehman’s collapse had created confusion and concern as asset managers and brokers scrambled to find out … Read more
New Nikko CEO ever acquisitive
Charles Beazley, the soon-to-be chief executive of Nikko Asset Management, has a personal story of rejection. Henry Jenner was consecrated Anglican bishop of Dunedin, New Zealand, in 1866. The prospective congregation feared the new clergyman was a papist. Shunned by the locals, Jenner had no choice but to return to England. The man’s ancestor is … Read more
Southeastern opens Sydney office
Doug Burton has opened an office for Memphis-based Southeastern Asset Management in Sydney. The $31 billion asset manager has one New Zealand and two Australian customers who have given $1.4 billion to Southeastern. The firm typically buys stocks that trade at a 40 per cent discount to their intrinsic worth, often taking stakes of as … Read more
VicSuper hires Seton for Stronger Super push
The $8 billion VicSuper has contracted Michael Seton, former chief executive officer of Military Super, to help the fund adapt to incoming Stronger Super reforms.
Genworth picks BNY Mellon as custodian
Genworth Financial in Australia has hired Bank of New York Mellon (BNY Mellon) as custodian of its $3.1 billion insurance portfolio.
