Russell Investment’s risk-modelling for defined-benefit funds has led to a serendipitous development of an Excel-based tool for stress-testing funds’ liquidity.
IFM's new chief wins permission to profit
The chief executive of Industry Funds Management (IFM), Brett Himbury (pictured), has won board approval to make a “modest” profit, and will be helped in that regard by $250 million across two new mandates just awarded it by Cbus. BT takes on the 'industry-retail duopoly'
BT Super For Life’s funds under management have topped $1billion in just over two years, proving that the low-cost, bank-branch distributed model is taking on the industry/retail fund “duopoly”, according to BT Financial’s recently installed chief executive, Brad Cooper.
ARIA to search for new chief executive
The Australian Reward Investment Alliance (ARIA), trustee for $16 billion of Commonwealth public servants’ super, will search for a new chief executive following the incumbent’s decision to return to funds management.
LGS hires sustainable stockpicker
The $6 billion NSW Local Government Super (LGS) has signed a $50 million mandate with a global equities manager focused on sustainability.
Hermes hires to sell boutiques’ message
Ian Manton-Hall, head of Hermes Fund Managers’ domestic sales office, has enlisted a former Fortis colleague to help market the many boutiques run by the UK manufacturer.
Arnhem asks market for admin solutions
Arnhem Investment Management, the Australian equities boutique distributed through BNP Paribas Investment Partners (BNP PIP), is openly tendering its contract for outsourced back-office administration.
All but two retail fund raters tipped to disappear
Mercer Investment Consulting and Standard & Poors will soon be the only two raters of retail managed funds left, according to the head of the Association of Independently Owned Financial Planners (AIOFP), which has so far signed up 719 members to a ratings service that they themselves will own.
NAB and DST pass on better tax parcelling
NAB Asset Servicing and DST Global Solutions have united to improve management of tax parcelling, with key NAB client Sunsuper understood to be the first roll-out site for the new ‘propagation’ technology.
Bring on phase two of Cooper Review changes
MySuper and Superstream are all well and good, but the Government should also take up the Cooper Review recommendation to phase out member protection costs, a major fund CEO said yesterday.
Impact of staff departures hits funds managers harder
The seriousness of staff departures from funds managers ramped up in Q2 2010 compared with Q1, and boutiques were hit for the first time, Standard & Poors’ ‘Musical Chairs: Fund Managers on the Move’ report has found.
Mezzanine debt to rock Melbourne
The chronic imbalance in global supply and demand for capital is leading more funds to consider investments like mezzanine debt, the subject of an Investment Magazine educational seminar in Melbourne on August 17, which will feature a veritable who’s who of managers in the asset class.
