A merged AMP/AXA would not unfairly distort New Zealand’s rapidly growing KiwiSaver market, the country’s competition regulator ruled yesterday, despite the fact both providers enjoyed default scheme status.
Sunsuper pulls private equity manager over the fence
Sunsuper, the $13 billion multi-industry fund, has hired an unlisted assets analyst from the investment team of a private equity manager, still seeks a macro strategist, and has called in an admin consultant to look at its investment information systems. Ex-Towers Watson unlisted assets chief is back
The former head of private markets at Towers Watson, Sandi Orleow, has resurfaced in the industry almost a year after leaving the asset consultancy.
Leggo flies high to Telstra Super
David Leggo, the former long-standing chair of the Australian Government’s AvSuper, is to be the new independent chair of Telstra Super.
AMP Capital Investors boosts Asian equities team
AMP Capital Investors’ focus on Asian equities as a source for external clients has strengthened, with the addition of a senior analyst from the sell-side to Karma Wilson’s team.
James Burkitt, ex-Babcock exec, PIS unite in property tilt
A private equity firm controlled by former Babcock & Brown executive Rob Topfer, and advised by industry stalwart James Burkitt, claims to have the money and the support of aggrieved dealer groups (notably PIS) to make it the best party to take over struggling direct property manager, Orchard Funds Management.
We’re exporting resources funds to China, too
A resources fund run from Sydney by a 30-year veteran of the sector has become one of the few funds available to Chinese retail investors under the QFII regime.
JPMorgan custody sales departure creates vacancy
A senior member of JPMorgan Worldwide Securities Services’ sales team has departed for a newly created role spearheading Citi’s fund administration service, and the hunt is on for a replacement.
Independent planners claim $20b pledged for their platform
The Association of Independently Owned Financial Planners (AIOFP) says $20 billion of its members’ funds under advice have been pledged to a platform business it has established, which will use two of the ‘big four’ banks for administration, but will not let them have the trusteeship, which has instead been outsourced to a company owned by Prime Super.
Scale isn’t everything: Towers Watson stands by IBM
Towers Watson is sticking with IBM Superlife as the administrator for the 41 corporate super funds it advises, even though the scaleability of the IBM Australia division is about to be decimated by the loss of its major foundation client. BTIG steps into prop-trading vacuum with options service
Institutional brokerage BTIG has recruited a derivatives specialist from Deutsche Bank’s Global Markets division to run its new equity options capability in Australia.
We're exporting resources funds to China, too
A resources fund run from Sydney by a 30-year veteran of the sector has become one of the few funds available to Chinese retail investors under the QFII regime.
