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
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
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
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
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
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
Last year AMP Capital’s managing director Stephen Dunne had a headache, albeit a pleasant one. From December 2010 Japan’s biggest publicly traded bank, Mitsubishi UFJ Financial Group, had made it clear to Dunne that if the two companies were going to have a relationship, the Tokyo-based company had to have a stake in AMP. But … Read more
Simon Shields, the head of Australian equities at UBS Global Asset Management, will leave the company to set up a hedge fund with his colleague Shane Fitzgerald. “Shane and I are going to set up a fund in April,” says Shields. A Standard & Poor’s report says the new fund will have “a total return … 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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