Chief investment officers surveyed by the Financial Services Council are negative about the prospects of international and Australian bonds, but are positive about stocks. The CIOs are also upbeat about Australian property investment but down on real estate overseas. Europe’s sovereign debt crisis is the biggest risk to investors this year, the survey reports. China’s … Read more
Rice Warner, the consulting firm, has hired Mark Blair as head of its superannuation consulting business in Australia. Blair has worked at investment-fund advisory consultants such as Pillar, Russell and Towers Watson. He has been hired in response to demand from Rice Warner’s superannuation fund customers for advice on strategy and product. “Mark will enhance … Read more
New York City. Turn of the century. Markets are booming. Champagne is flowing. Good times. A group of Australian chief executives has been flown to the city that never sleeps by investment bankers, Merrill Lynch. The CEOs are in a hotel conference room together with the chief investment officers of firms such as Capital Asset … Read more
ASX Group, operator of the 151-year old Australian stock market, plans to offer trading in international shares in an effort to turn the exchange into a vital link in 24-hour global trading. ASX plans to offer depositary receipts in miners Xstrata, BHP Billiton, Rio Tinto, bank HSBC Holdings and one other stock by July, subject … Read more
The executive director of alternative debt at $6.7 billion Hastings Funds Management expects the Australian debt market to no longer be the purview of the country’s banks. Steve Rankine reckons the local bond market will open up to a broader investor base. He says higher equity levels demanded by the Bank of International Settlements will … Read more
National Australia Bank Ltd.’s asset servicing unit has been appointed the custodian to the Australian Reinsurance Pool Corp. which has about $740 million in assets.
ASX Group will allow investors to trade equity options for any date from April 30. “Investment managers can trade an equity option with any expiry date and electable strike price,” says David Stocken, senior manager for institutional sales at the ASX. “There are no International Swaps and Derivatives Association requirements.” About 25 per cent of … Read more
Curt Custard, head of global investment solutions at UBS Global Asset Management, is “very, very disappointed” with his investment banking colleagues. Perhaps even a little mad. But he displays similar sentiments toward US Republican presidential candidates, politicians in general, Europe and John Maynard Keynes. At UBS asset management “nobody is as frustrated as ourselves as … Read more
Citigroup Inc. has hired Kevin Degabriele from JPMorgan Chase & Co. to bolster its custody business, the fifth-biggest in Australia. Degabriele will join New York-based Citigroup as senior manager, client relationships and sales. He will report directly to Martin Carpenter, managing director of securities and fund services, global transactions services in Australia. “Kevin is very … Read more
Two Australian superannuation funds have been speaking with the FTSE Group for a year about using their new indices that aim to reduce the investment risk associated with climate change. FTSE, wholly owned by the London Stock Exchange, will not disclose which Australian funds they have been speaking with. But they are “two quite different … Read more
Two Australian superannuation funds have been speaking with the FTSE Group for a year about using their new indices that aim to reduce the investment risk associated with climate change. FTSE, wholly owned by the London Stock Exchange, will not disclose which Australian funds they have been speaking with. But they are “two quite different … 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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