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.
Bill Moss wants quotas for the disabled
Bill Moss, chairman of his eponymous firm, says large companies should reserve a small percentage of jobs for people with disabilities and indigenous Australians. Bill Moss wants quotas for the disabled
Bill Moss, chairman of his eponymous firm, says large companies should reserve a small percentage of jobs for people with disabilities and indigenous Australians. Bill Shorten promoted to cabinet
Bill Shorten has been promoted to Cabinet as Minister for Employment and Workplace Relations but he will also retain the portfolio as the Minister for Financial Services and Superannuation.
ASX seeks to list international stocks
ASX Group may allow trading in as many as five non-Australian stocks on its own market by the second quarter next year subject to regulatory approval, says Richard Murphy, general manager of equity markets at the ASX. Chi-X may add 11 more brokers
Chi-X Australia Ltd., the market that is challenging the ASX Group, may have as many as 34 brokers to trade through it. APRA promotes Keith Chapman, Helen Rowell
The Australian Prudential Regulation Authority, regulator for most of the $1.4 trillion in superannuation assets under management, has appointed Keith Chapman as executive general manager of the diversified institutions division.
