Investors soon may be able to track analyst stock recommendations and discern whether they are good or bad.
Perpetual chairman may review executive pay
Perpetual Ltd. chairman Peter Scott said at the November 3 annual general meeting “the recent performance of the company has not been acceptable” and the fund manager may “fundamentally re-think how we reward the staff.”
Neuberger Berman expects more mandates
Neuberger Berman Australia Ltd. expects a couple more mandate wins to add to the five it has won since April worth $550 million.
Bill Shorten confident 12% superannuation will pass parliament
Bill Shorten is confident Federal Parliament will pass a bill boosting compulsory superannuation to 12 per cent from 9 per cent, adding it was necessary so Australians don’t retire poor.
Templeton’s Wilton digesting Sisson who likes Qantas, criticises Lowy
Franklin Templeton Investments Australia Ltd. doesn’t plan to add another fund manager after buying Andrew Sisson’s Balanced Equity Management in July. But it says it would be logical to have a team that offers Australian bonds or investments in stocks outside the S&P/ASX 100 Index.
Phil Kearns has some advice (Corrected)*
This article was corrected November 11.
Phil Kearns, the former Australian rugby union captain, has some advice on how a team within a corporation should work. The World Cup winner is a managing director in corporate finance at Investec Bank (Australia) Ltd..* Kearns says everyone should play the role that is required of them.
Ankura Capital closes, will return $1 billion (Corrected)*
A correction to this article was issued November 11.
BNY Mellon Asset Management has closed Ankura Capital, its Australian and Japanese equities boutique, and will return $1 billion to clients.
Editors Pick #1
Wealth managers get “hands on” to justify fees – Financial Times Britain’s financial services sector paid out £14bn in bonus – The Telegraph UK Financial advisers accused of “ripping off” pension savers – The Telegraph UK US: Private label ETFs for advisers – FA Many ways to count inflation: What’s a financial adviser or retiree … Read more
Two-horse race to be Sunsuper’s custodian
The $18 billion Sunsuper will choose State Street Corp. or National Australia Bank Ltd. (NAB) as its custodian as the fund enters the final stages of a long tender, people familiar with the matter say.
Chi-X may offer trading in all of S&P/ASX 200 from November 9
Chi-X Australia Ltd., the market that is challenging the 150-year monopoly of the ASX Group Ltd., may offer trading in all shares of the S&P/ASX 200 Index and all exchange traded funds from Wednesday November 9.
Industry Funds Management to return profits to investors
Industry Funds Management (IFM), the $30 billion fund manager that is owned by 32 not-for-profit superannuation funds, will return money to its investors equal to 12.5 per cent of its annual fees because its investment products have exceeded their return targets.
Super and consumer experts debate the SG increase
The Federal Government’s plan to lift the Superannuation Guarantee (SG) from its current 9 per cent to 12 per cent unsurprisingly has widespread industry support. But it might be a surprise for some in the industry that the plan does not have universal and unequivocal community support.
