The Australian Securities and Investments Commission has told superannuation funds they will be temporarily allowed to give limited financial advice to members, following a spike in call centre enquires in the midst of the financial crisis.
BT Financial loses head of retirement
BT Financial Group’s head of retirement, who helped pioneer the firm’s revolutionary online superannuation offering Super for Life, has left the firm just days ahead of a vote by St George shareholders on its proposed merger with Westpac.
QIC becomes creditor to infrastructure majors
Queensland Investment Corporation (QIC) has formed a new fund to buy up stakes of $50 million or more in the debt of big infrastructure players as other investors, such as hedge funds and investment banks, sell their credit exposures to the sector.
AllianceBernstein, Franklin Templeton cut local salesmen
Global cost-cutting by funds managers is making its presence felt in Australia, with the local operations of AllianceBernstein and Franklin Templeton Investments trimming staff.
Russell reshuffle following Schoenheimer promotion
The current head of Russell’s Australasian business, Alan Schoenheimer, will become head of all the group’s non-US/Canadian operations from January, prompting a restructure here. Australia okay but Asia looks better – AMP Capital
There will be bear-market rallies in the near term, but even if markets have bottomed, that does not mean they are going in only one direction from here, according to Mark O’Brien, CIO of AMP Capital Investors. Piper cements 23-year link with MLC
Twenty three years ago Stuart Piper was the fixed interest manager for the fledgling asset management business of the broking firm known as Dominguez Barry Samuel Monatgue, who had just won a new big client – MLC.
Only one-fifth of fundies say they’ll downsize: survey
Only 20 per cent of respondents to a new survey of 70 asset managers around the world had cut staff, or expected to cut as a result of the financial crisis.
Restructure eliminates private wealth roles at Perpetual
Both the head of private clients at Perpetual Investments and the head of the Perpetual Foundation have exited the company after a comprehensive corporate restructure.
Only one-fifth of fundies say they'll downsize: survey
Only 20 per cent of respondents to a new survey of 70 asset managers around the world had cut staff, or expected to cut as a result of the financial crisis.
Future Fund starts to take on some risk
If there were any lingering doubts about the early conservatism of the Future Fund, the annual report published October 20 should put those to rest. The report reveals that six big mandates were awarded to international alternatives managers prior to June 30 as well as confirmation of the appointment of some traditional active managers both in Australia and overseas. The alternatives commitments are particularly interesting.
Future Fund starts to take on some risk
If there were any lingering doubts about the early conservatism of the Future Fund, the annual report published October 20 should put those to rest. The report reveals that six big mandates were awarded to international alternatives managers prior to June 30 as well as confirmation of the appointment of some traditional active managers both in Australia and overseas. The alternatives commitments are particularly interesting. 
