Construction and Building Industry Super is looking to merge with other funds to meet changing demographic demands and regulatory changes designed to lower costs.
MTAA CEO Michael Delaney to quit in November
Michael Delaney, the former private secretary to Gough Whitlam, will retire as chief executive of MTAA Super in November, after 22 years.
Palisade buys Tasmanian gas pipeline
Palisade Investment Partners has acquired the Tasmanian Gas Pipeline from WestNet, a former Babcock & Brown company, for about half of its $400 million construction cost.
Patrick Fanning leaves Citigroup’s joins JPMorgan; Jim Kerelas joins ConvergEx
Patrick Fanning, a director at Citigroup Inc.’s transition management team in Australia, has left the company to work for rival JPMorgan Chase & Co.
Media Super invests in high return seeking managers
Media Super has invested in two high return seeking Australian funds managers after researching the domestic market for the past year.
White-collar criminals likely to be middle managers with no history of dishonesty
The typical profile of a “white-collar” criminal is a male, 38 years old with no history of dishonesty, who acts alone, and earns $113,000 a year, says Peter Morris, a former detective in the Australian Federal Police now working for KPMG.
Industry Funds Management wins $100 million mandate from Hostplus
Industry Funds Management, the fund manager owned by 32 Australian superannuation funds, says it has won a $100 million contract from Hostplus, the superannuation fund for the Australian Hotels Association.
AMP’s Craig Dunn: “We’re at a watershed in the industry”
The next 15 years will be “difficult and more challenging” for fund managers than the last 15 years,” says Craig Dunn, chief executive of AMP Ltd.
National Australia Bank buys Aviva Investors; wins two custody contracts
NabInvest, the direct asset management business of National Australia Bank Ltd., says it has acquired Aviva Investors Australia Ltd., which has about $5.5 billion in funds invested in Australian stocks.
Talk members through the rout: Sunsuper
Superannuation funds should speak with members before talking to investment managers when equity markets collapse, says David Hartley, chief investment officer at Sunsuper.
Ron Bird, professor of finance, expects further falls in global stock markets
Australians should expect further share price falls because economic fundamentals are being overridden by “panic,” says Ron Bird, professor of finance at the University of Technology Sydney.
Fidelity’s Paul Taylor says Australian stocks are attractive
Australians stocks are attractive and market returns, from dividends and earnings growth, may be as much as 15 per cent in the next year, says Paul Taylor, head of Australian equities at FIL Investment Management (Australia) Ltd.
