MTAA Super has taken the unusual step of instituting court proceedings against its former chairman, John Rickus, in a case where the Australian Prudential Regulatory Authority (APRA) has intervened.
QIC seeds hedge fund with $US150m
Queensland Investment Corporation (QIC) has emerged as the seed investor behind Pengana’s global volatility fund, committing a $US150 million mandate to the strategy, which is built to profit from market turbulence through options-trading.
AGEST gets first investment officer, reviews asset consultant
The $2.8 billion industry fund AGEST has appointed a former National Custodian Services (NCS) accounting and tax specialist to the newly-created position of investment officer, and is down to the wire in an asset consulting tender.
Jacky Herron departs Nestle Super after 23 years
Industry stalwart Jacky Herron is leaving her position as fund secretary at Nestle Australia Group Superannuation Fund, following the outsourcing of trustee responsibilities to Russell’s Total Risk Management (TRM).
NGS Super hires start-up ahead of manager cull
Industry fund NGS Super has awarded Australian equities start-up Integrity Investment Management an $85 million mandate, but will progressively decrease its number of local share managers following a review.
UniSuper to ‘test’ unlisted team rather than replace Gabriel
UniSuper’s investment team has a new manager for its governance and sustainability responsibilities following the departure of Helga Birgden last month, and will not look to replace departing head of private markets Gary Gabriel in the foreseeable future.
MainstreamBPO gets $10 million war chest
Business process outsourcing group MainstreamBPO has struck a $10 million acquisition financing deal with Investec, as it seeks to add SMSF, SMA and mortgage administration capabilities to its existing fund and super admin offerings.
Westpac planners gripe, BT unbundles wrap pricing
BT Financial Group (BTFG) has changed the way it charges Westpac financial planners for using BT Wrap, after advisers complained the wrap was available cheaper to independent financial planners.
UniSuper to 'test' unlisted team rather than replace Gabriel
UniSuper’s investment team has a new manager for its governance and sustainability responsibilities following the departure of Helga Birgden last month, and will not look to replace departing head of private markets Gary Gabriel in the foreseeable future.
Watson Wyatt to wield buying power against manager fees
Watson Wyatt has indicated it will make better use of its group buying power in fee negotiations with managers.
Gloom, doom and dysfunctional markets: academics have their say
Last week’s inaugural Australian conference of the Paul Woolley Centre for Capital Market Dysfunctionality was told that the world was on the verge of a depression, active management was of questionable value and the whole funds management industry may well subtract value from society.
Project ‘George Street’ puts NAB back in manufacturing
Investment manufacturing is occuring under a ‘National Australia Bank’ brand name for the first time in seven years, as the MLC fixed income team, the Capital/National Alliance and alternatives subsidiary Antares Capital Partners come together under the ‘nabInvest’ banner.
