Either stoically optimistic or complacent, the executives of funds management businesses do not believe the financial crisis will threaten their businesses, force them to overhaul their investment strategies or cut headcount, an analysis of a global survey of funds managers by FS Associates finds.
Australian financials can withstand shorting: AIMA
The market regulator’s prolonged ban on short selling financial stocks, based on concerns that prices could be hit with volatility similar to that experienced by UK financials after a shorting ban was lifted, could further undermine investor confidence and is inappropriate given the strength of domestic banks, according to the Australian chapter of the Alternative Investment Management Association (AIMA Australia).
Australian financials can withstand shorting: AIMA
The market regulator’s prolonged ban on short selling financial stocks, based on concerns that prices could be hit with volatility similar to that experienced by UK financials after a shorting ban was lifted, could further undermine investor confidence and is inappropriate given the strength of domestic banks, according to the Australian chapter of the Alternative Investment Management Association (AIMA Australia).
Vanguard CIO resigns ‘because he can’
Eric Smith, the chief investment officer of Vanguard Investments’ Asia Pacific business, tendered his resignation at the end of last month, after 12-and-a-half years at the index funds manager.
In an email announcing his departure to the industry, Smith wrote: “Why am I leaving now? Because I can. “ I am only the fourth person to leave the investment team in that 12.5 years – something I suspect is an industry record. The four senior members of the investment team have 34 years with Vanguard between them – and double that in the industry. I can leave Vanguard now, confident that my investments with Vanguard will still be in great hands.”Vanguard CIO resigns ‘because he can’
Eric Smith, the chief investment officer of Vanguard Investments’ Asia Pacific business, tendered his resignation at the end of last month, after 12-and-a-half years at the index funds manager. In an email announcing his departure to the industry, Smith wrote: “Why am I leaving now? Because I can. “ I am only the fourth person to leave the investment team in that 12.5 years – something I suspect is an industry record. The four senior members of the investment team have 34 years with Vanguard between them – and double that in the industry. I can leave Vanguard now, confident that my investments with Vanguard will still be in great hands.”
Writedown talk for unlisted assets ‘nonsense’: MTAA Super
The deputy executive director at MTAA Super, Leanne Turner, has decried as “nonsense” suggestions that funds with large holdings in alternatives are overvalued.
Listed markets continued their dismal performance up to December 31, with Australian shares down 38.9 per cent and Australian listed property down 55.3 per cent, while unlisted property lost just 0.3 per cent for the year. Asset allocation was more important than ever before in 2008; super funds heavily weighted to listed markets underperformed funds with big unlisted books by nearly 15 per cent.Writedown talk for unlisted assets ‘nonsense’: MTAA Super
The deputy executive director at MTAA Super, Leanne Turner, has decried as “nonsense” suggestions that funds with large holdings in alternatives are overvalued. Listed markets continued their dismal performance up to December 31, with Australian shares down 38.9 per cent and Australian listed property down 55.3 per cent, while unlisted property lost just 0.3 per cent for the year. Asset allocation was more important than ever before in 2008; super funds heavily weighted to listed markets underperformed funds with big unlisted books by nearly 15 per cent.
The Australian Industrial Relations Commission (AIRC) has faced criticism
The Australian Industrial Relations Commission (AIRC) has faced criticism for an apparent lack of rigour and transparency while determining a range of default superannuation funds for employers covered by modern awards.
Submissions to the AIRC’s award modernisation project show the commission was reluctant to analyse the investment performance of the chosen default funds, even after the federal minister responsible for superannuation, Nick Sherry, made it clear such assessments would be prudent.The Australian Industrial Relations Commission (AIRC) has faced criticism
The Australian Industrial Relations Commission (AIRC) has faced criticism for an apparent lack of rigour and transparency while determining a range of default superannuation funds for employers covered by modern awards. Submissions to the AIRC’s award modernisation project show the commission was reluctant to analyse the investment performance of the chosen default funds, even after the federal minister responsible for superannuation, Nick Sherry, made it clear such assessments would be prudent.
Program and Speaker’s Notes
Chair: Colin Tate, Conexus Financial 8.45am Conference Welcome & Opening Comments Geoff Cohen – Managing Director, ANZ Investment and Insurance 9.00am Retirement Expenditure Patterns This session will unveil the exclusive findings of a new report into Australian retirees’ expenditure patterns,and what it means for super funds. Based on original research commissioned by Rice Warner … Read more
Program and Speaker's Notes
Chair: Colin Tate, Conexus Financial 8.45am Conference Welcome & Opening Comments Geoff Cohen – Managing Director, ANZ Investment and Insurance 9.00am Retirement Expenditure Patterns This session will unveil the exclusive findings of a new report into Australian retirees’ expenditure patterns,and what it means for super funds. Based on original research commissioned by Rice Warner … Read more
Asset class gatekeepers revealed at BT multimanager division
Key positions in the combined multimanager investment business of BT and St George, BT Investment Solutions, have now been confirmed.
