Scrapping mandates with two large institutional managers, the superannuation and Australian equity multi-manager products run by the $300 million MAP have both allocated $10 million to the boutique Bennelong Funds Management.
Telstra Super loses CIO
The chief investment officer of the $10 billion Telstra Super is understood to have resigned from the fund on Friday to take a senior position at a large Melbourne-based retail funds manager.
Fortitude's moves to get more capital
As funding from its major clients – offshore hedge fund-of-funds (FoFs) – continues to dry up, domestic hedge fund Fortitude Capital has begun canvassing ways of garnering more capital from investors in its home market.
St John the mentor
In case you were wondering, David St John is doing fine, thanks, and has every intention of taking the six-month break he promised himself when he departed the UniSuper chief investment officer position on March 31. Unbalanced spoke to St John last month after he’d returned from a stay at his Snowy Mountains farm, where the chilly weather means his sheep produce a very nice grade of wool (19 microns, David tells us).
St John the mentor
In case you were wondering, David St John is doing fine, thanks, and has every intention of taking the six-month break he promised himself when he departed the UniSuper chief investment officer position on March 31. Unbalanced spoke to St John last month after he’d returned from a stay at his Snowy Mountains farm, where the chilly weather means his sheep produce a very nice grade of wool (19 microns, David tells us).
Funds Manager Idol: only in the Phillipines
Funds manager beauty parades are a bit passé in Australia these days, but in the Phillipines they like them so much they televise the things. This came as something of a shock to Martin Donnelly, deputy chief executive of ING Investment Management, when he went to Manila pitching for a piece of the Government Service Insurance System’s first offshore allocation. The public sector fund, hitherto concentrated in Filipino T-bonds, had put US$1 billion up for grabs (roughly 12 per cent of its assets), with the promise of more mandates to come.
Funds Manager Idol: only in the Phillipines
Funds manager beauty parades are a bit passé in Australia these days, but in the Phillipines they like them so much they televise the things. This came as something of a shock to Martin Donnelly, deputy chief executive of ING Investment Management, when he went to Manila pitching for a piece of the Government Service Insurance System’s first offshore allocation. The public sector fund, hitherto concentrated in Filipino T-bonds, had put US$1 billion up for grabs (roughly 12 per cent of its assets), with the promise of more mandates to come.
Crispin mulls ‘semiretirement’
Crispin Murray was mostly in good form at last month’s launch of Standard & Poors’ ‘Active Vs Passive Scorecard’ to the Australian market. The Scorecard showed two-thirds of Australia’s active Australian equities managers had underperformed the S&P/ASX 200 in the five years to June 2009, but the guy who runs the asset class for BT Investment Management pointed out the comparison was a little unfair.
