The investment cliche that “all correlations go to one in a crisis” is untrue because it refers to asset class labels, rather than the “essential betas” which lie beneath them, according to US manager First Quadrant.
UBS poaches transitions competitor
The UBS Institutional Funds Group has made up for the departure of its head, Nick Carrigan, with the poaching of a transition management and overlay expert from a competitor.
Future Fund hires senior retail rater
The equities team at the Future Fund, which is currently responsible for more than $25 billion in mandates with external managers, has added a fourth member from the senior ranks of a retail funds rating agency.
Ellerston didn’t get Sevior, now loses one to Perpetual
James Packer’s Ellerston Capital, which tried unsuccessfully to poach Perpetual Investment’s head of equities John Sevior, has now lost its veteran long/short manager to that organisation, which has also just poached from Platinum Asset Management to incubate an Asian equities strategy.
Uni of Sydney endowment targets hedge funds
The University of Sydney endowment will invest directly in hedge funds for the first time, after its investment team identified some sufficiently skilled managers with newfound capacity.
Automated single-issue advisor claims savings for super funds
The cost of a single-issue piece of financial advice to a super fund member, which funds often subsidise, could be slashed 80 per cent by automating the answers to simple questions around investment options, contributions, insurance and retirement, the makers of a new system claim.
Already faced with its own million-dollar legal bills, MTAA Super has been hit with an order from the Federal Court to pay legal costs incurred by its former chairman, John Rickus, after unsuccessfully suing him. Telstra Super loses alternatives boss
Nicole Connolly, head of alternatives at Telstra Super, will leave the big corporate fund to take a senior consulting role. Backoffice champions: ACSA award winners for 2010 announced
The Australian Custodial Services Association (ACSA) has announced the winners of the 2010 ACSA Awards.
BNY Mellon AM restructures, sheds high-profile strategist
BNY Mellon Asset Management (Australia) has seen its two most senior executives after managing director Bruce Murphy depart.
Ellerston didn't get Sevior, now loses one to Perpetual
James Packer’s Ellerston Capital, which tried unsuccessfully to poach Perpetual Investment’s head of equities John Sevior, has now lost its veteran long/short manager to that organisation, which has also just poached from Platinum Asset Management to incubate an Asian equities strategy.
