Credit Suisse Asset Management has cut its equity, fixed income, and balanced products, in exchange for a 25 per cent stake in Aberdeen Asset Management.
SEC knew Madoff was a fraud
As more and more red-faced investors raise their hands to admit exposure to Bernard Madoff’s Ponzi scheme, the Securities and Exchange Commission is feeling equally embarrassed after a two-year-old report addressed to the organisation has emerged. Its title: The world’s largest hedge fund is a fraud.
Health Super CIO takes back his resignation
The chief investment officer of Health Super has scrapped the resignation he announced in October, and has secured an additional internal investment staffer as well.
UniSuper’s head of infrastructure and PE walks…
The head of infrastructure and private equity at UniSuper has left the fund less than six months after he started full-time.
Melda holds the fort at VFMC as chair search continues
Melda Donnelly, the founder of the Centre for Investor Education and director of Victorian Funds Management Corporation, has agreed to be acting chair of the funds management group as well as deputy chair, while the search continues for a permanent candidate.
…as fund awards $515m in new PE mandates
The $21 billion UniSuper expanded its private equity portfolio by allocating 10 mandates in the course of 2008.
UniSuper's head of infrastructure and PE walks…
The head of infrastructure and private equity at UniSuper has left the fund less than six months after he started full-time.
Select drops hedge fund salesman
Select Asset Management has dropped the institutional marketer for its fund-of-hedge-fund manager Gottex Fund Mangement, after alleged fraud in an underlying fund, dismal performance, and a freeze on redemptions made the prospect of investor appetite less likely.
Mercer takes the plunge with managed futures
Mercer’s multimanager funds have taken note of stellar performance from managed futures managers over the past year, making their first ever allocation to the asset class at the same time as helping break the mandate drought in global equities, awarding $400 million to RCM Global Investors and $300 million to Martin Currie.
Christmas cheer: marketing jobs still coming up
AustralianSuper, Mercer’s multi-employer master trust, NAB Custodian Services and Invesco have given some hope to displaced sales and marketing professionals, all making hires in that area in recent days.
Platinum poaches from Watson Wyatt for insto foray
Australia’s most successful global equities manager, Platinum Asset Management, has hired an investment consultant from Watson Wyatt to spearhead its first major push into the institutional market.
