The right to administer six million superannuation accounts is up for grabs in what is arguably Australia’s largest ever tender for a financial services systems replacement.
Watson Wyatt reignites debate on rising manager fees and charges
Watson Wyatt is again pressing for debate on manager fees and charges, with the release of an international research note on the rising costs associated with funds management.
Pinnacle gets Melbourne distribution head, Sydney to come
Pinnacle Investment Management’s first-ever director of distribution and client relationships started work in Melbourne this morning, after finishing a seven year stint with Legg Mason (formerly Citigroup Asset Management) on Friday.
NSW Local Govt Super to search for own CIO
The $7 billion NSW Local Government Superannuation Scheme (LGSS) has begun a search for its first-ever chief investment officer.
Kerry Series winds up boutique in preference for AMP role
Kerry Series’ dream of creating a Sydney-based Asian equities powerhouse will be more achievable in his newly-created role of AMP Capital Investors’ head of Asia-Pacific equities than it was in his own boutique, the fund manager said yesterday.
Regulatory over-reaction could make credit crunch worse – former Bush adviser
US economic growth will be hampered by regulatory over-reaction to the sub-prime mortgage crisis, predicted Philippa Malmgren, a visiting geopolitical adviser of the UK-based Canonbury Group, at last week’s FEAL Executive Forum in Melbourne.
Hyperion growth stocks to draw $200m from instos
Two institutional investors have all but locked-in up to $200 million in mandates with boutique Hyperion Asset Management (Hyperion AM) for its concentrated portfolio of large cap Australian growth stocks.
Mercer cuts manager from GTAA line-up
Mercer Global Investments (MGI) has terminated a mandate with one of its four global tactical asset allocation (GTAA) managers, after assigning it less than a year ago.
Giving when the getting’s good: report urges philanthropy uptake
A report from Australian researchers into philanthropy has found that the pace of wealth creation among Australia’s affluent far exceeds their levels of charitable giving.
BUSS(Q) appoints T.Rowe Price in growth manager swap…
BUSS(Q) has awarded a $50 million mandate to US growth manager T. Rowe Price, withdrawing the money from another growth manager which has had personnel problems.
State Super’s new chairman
BNY Mellon strategist and former Paul Keating adviser, Don Russell, has been appointed as the new chairperson of State Super.
LUCRF hires Mercer analyst to investment team
Labour Union Cooperative and Retirement Fund (LUCRF) has hired a senior analyst from Mercer to strengthen the independence of its internal investment team in making investment decisions, according to LUCRF chief executive Greg Sword.
