Popular movements seem more likely to emanate from camped-out protesters than boardrooms, but a new organisation headed by Hermes Fund Managers acting chief executive officer Saker Nusseibeh has the ambitious aim of radically reforming the investment industry.
Mitsubishi UFJ to take 15% stake in AMP Capital
Mitsubishi UFJ Financial Group will pay $425 million for a 15 percent stake in AMP Capital that will enable Japan’s biggest publicly traded bank to take a stake in the world’s fourth-largest pension market.
Australia’s AAA status will attract foreigners
Australia is likely to retain its AAA credit rating even if the world slides into recession, bolstering the attraction of the country’s bonds among foreign investors, says UBS AG strategist Matthew Johnson.
Superannuation funds to shrink in number
Australia’s superannuation funds under management will more than double to $3.3 trillion by 2026 from $1.3 trillion but the number of funds will shrink in less than five years due in part to mergers as funds seek economies of scale, says actuaries Rice Warner. Venture capital needs Julia Gillard’s support
The Australian Private Equity and Venture Capital Association says the government’s Innovation Investment Fund should continue as it has been successful in funding new businesses such as job site Seek.com and bio-technology company Pharmaxis.
Risk insurance for funds to grow to $21.5 billion
Risk insurance for Australia’s fund management market will grow to $21.5 billion from the current $10 billion over the next 15 years as more people seek to protect their future income, says actuaries Rice Warner. Why the French fluked this RWC
The Germans had Paul the psychic octopus and the Kiwis had Sonny Wool the tipping sheep but the rugby-mad folk at Towers Watson tried to take a more scientific approach to predicting who would win the 2011 Rugby World Cup.
Mark Thomas shows some soul
Anyone who has switched on Channel Nine recently will know about its adoption of Donald Trump’s television brainchild, The Apprentice. For those who haven’t seen an episode or dodged the ads: Australia’s Celebrity Apprentice is a TV series in which a number of famous Australians – such as Warwick Capper, Lisa Curry-Kenny and Jesinta Campbell – strive under the tutelage of Mark Bouris, founder of financial planning group Yellow Brick Road, to develop business acumen. For one of the show’s episodes, the apprentices held a charity art auction at Harrison Galleries in Paddington, inner-city Sydney, last month.
NGS Super’s catch of the day
Many people would like to think that super fund trustees are reliable. That they, figuratively speaking, are people who each have “a safe pair of hands”.
