UniSuper considers a $1.48 billion gap between the assets and liabilities in its defined benefit division as meaningless.
Bill Shorten’s tax changes for foreigners
Australia will implement the final element of an investment regime that aims to attract investment from foreign asset managers by excluding their Australian gains and losses from tax. The exemption will be restricted to foreign managed funds domiciled in countries recognised by Australia as engaging in effective exchange of information, says the office of Bill … Read more
Ascalon looking for funds in Asia
Ascalon Capital Managers, whose boutique asset managers manage about $4.5 billion, may add as many as two Asian hedge funds to its asset managers next year.
AustralianSuper’s diet is more mergers
AustralianSuper, the $42 billion fund, may seek to merge with public sector funds.
Franklin Templeton expects 2012 expansion
Franklin Templeton Investments Australia Ltd. says firings by rivals have provided it with opportunities to expand.
UniSuper’s defined benefit dilemma
The liabilities of the $11.3 billion defined benefit division of UniSuper are significantly greater than its assets if all 81,000 members of the scheme sought to withdraw all their money at the same time.
AustralianSuper, AGEST Super to merge
AustralianSuper, the country’s largest industry superannuation fund with $42 billion under management, will get even bigger.
QIC shutters boutique
Queensland Investment Corp., which manages about $59 billion in assets, has shut a unit that seeks to protect superannuation fund members’ balances because of its poor capital raising prospects due to a perceived delay in the implementation of MySuper.
Paradice hires Moberley, to disperse equity
David Paradice has hired former Macquarie Group analyst David Moberley and is in the process of giving equity in the firm to his colleagues.
Greg Cooper: manager numbers will shrink
Greg Cooper, chief executive of Schroder Investment Management Australia Ltd., expects the number of Australian fund managers who specialise in managing local stock portfolios will shrink.
ASIC promises “plain English” on FoFA reforms
ASIC has released plans for publishing regulatory guidance on the impact of the Future of Financial Advice (FoFA) reforms on the financial planning industry.
Energy Super in talks with NSW, SA funds
Energy Super, Australia’s biggest energy superannuation fund with $3.8 billion under management, is in talks with other funds that may lead to cooperation on investments in order to lower costs.
