Managed Funds

Challenger (CGF)

22 May 2012 | George Liondis

Financial services group Challenger has taken a stake in an 11th boutique funds manager.

Testing times for stock pickers

22 May 2012 | Tony Boyd

PRINT: 22 May 2012 | PAGE 3 | Testing times for stock pickers

BlackRock’s restructure should have sent a shudder through the highly paid stock pickers who form the backbone of Australia’s active equities funds management industry.

Investors hit as Macquarie axes funds

22 May 2012 | John Kehoe

PRINT: 22 May 2012 | PAGE 4 | Investors hit as Macquarie axes funds

Macquarie Group is shutting down a range of retail managed funds, leaving some investors with no choice but to crystalise large financial losses.

Proximity to Asia ensures local appeal

21 May 2012 | Jemima Whyte

PRINT: 21 May 2012 | PAGE 26 | Proximity to Asia ensures local appeal

Going weak at the knees doesn’t normally make for a good fund manager. But in Ella Brown’s case, she may not have ended up in financial markets without it.

Henderson eyes super assets

21 May 2012 | Duncan Hughes

PRINT: 21 May 2012 | PAGE 3 | Henderson eyes super assets

Henderson Global Investors, the Anglo-Australian funds manager with about $103 billion under management, will announce its plans to launch a pure funds management business in Australia.

Safe, and a sound income for retirees

19 May 2012 | Jonathan Shapiro

PRINT: 19 May 2012 | PAGE 2 | Safe, and a sound income

As more Australian’s approach retirement, there’s a rush to provide them with investment products that suit their more conservative needs.

Pension funds get nervous about CSG

18 May 2012 | Angela Macdonald-Smith

PRINT: 18 May 2012 | PAGE 1 | Pension funds get nervous about CSG

Concern about growing investment risk in the coal seam gas and shale gas sector has driven some of Australia’s largest pension funds to join shareholder activist Regnan in a global initiative to raise operating standards in the industry.

AMP (AMP)

17 May 2012 | Duncan hughes

PRINT: 18 May 2012 | PAGE 27 |

Wealth manager AMP faces a tough outlook given its main drivers of revenue and earnings are the volumes and direction of markets.

The problem with BHP

17 May 2012 | Tony Boyd

PRINT: 17 May 2012 | PAGE 1 | The problem with BHP Billiton

A speech in Sydney by BHP Billiton chairman Jac Nasser and an earlier presentation by CEO Marius Kloppers in Florida, did nothing for the stock.

Prophet of emerging markets

16 May 2012 | Jonathan Shapiro

PRINT: 16 May 2012 | PAGE 2 | Prophet of emerging markets

Fund manager David Holstein is on a crusade to make emerging markets more popular with investors. He says companies invested in them have the chance to share in the wealth.

Creditors to vote on MF Global debt

14 May 2012 | John Kehoe

PRINT: 14 May 2012 | PAGE 12 | Creditors to vote on MF Global debt

Investors may be able to sell MF Global accounts if creditors vote in favour of the move, and distressed debt specialists have made inquiries about buying positions.

Top gong for Lambert

11 May 2012 |

PRINT: 11 May 2012 | PAGE 56 | Top gong for Lambert

More than 360 finance types were on hand at the Four Seasons last night for the Money Management Fund Manager of the year awards.

World’s biggest factory under new management

10 May 2012 | Duncan Hughes

PRINT: 10 May 2012 | PAGE 36 | World’s factory under new management

A fund manager with a focus on China explains the world’s most populous nation is set on fuelling growth through enriching its people.

Super fund blue chip focus ‘costly’

08 May 2012 | Duncan Hughes

PRINT: 08 May 2012 | PAGE 20 | Super fund blue chip focus ‘costly’

Private equity’s peak body says super funds have neglected private equity investments, leading them to miss out on assets which consistently outperform major benchmarks.

Islamic finance has ‘ethical’ attractions

07 May 2012 | John Kehoe

PRINT: 07 May 2012 | PAGE 22 | Islamic finance has ‘ethical’ attractions

Islamic finance is a foreign concept to most Australian investors. Former investment banker Talal Yassine is head of the first local full-service Islamic-finance wealth manager.

BT head targets sector growth

07 May 2012 | Duncan Hughes

PRINT: 07 May 2012 | PAGE 2 | BT head targets sector growth

Brad Cooper believes the global financial crisis could be a beneficial “game changer” for the nation’s financial services.

Nimble LICs outrun funds and cost less

07 May 2012 | Ruth Liew

PRINT: 07 May 2012 | PAGE 3 | Nimble LICs outrun funds and cost less

Australia’s listed investment company sector has outperformed the wider equities market since 1979 and beaten the returns of its managed fund peers during the past 10 years.

Jailed Trio Capital boss talks

05 May 2012 | Duncan Hughes

PRINT: 05 May 2012 | PAGE 3 | Jailed Trio boss talks

The jailed former boss of Trio Capital, Shawn Richard, has revealed a litany of regulatory weaknesses and adviser excesses that contributed to the loss of about $123 million worth of investor assets.

Victorian stamp duty is out of step

01 May 2012 | Katie Walsh

PRINT: 01 May 2012 | PAGE 13 | Vic hammered over stamp duty

One of the nation’s biggest property groups has lashed the Victorian government over the state’s stamp duty regime ahead of today’s state budget.

Tax Office loses out in super

01 May 2012 | Sally Patten

PRINT: 01 May 2012 | PAGE 1 | Tax Office wins some, loses some in super market

Self managed superannuation funds collectively paid 71 per cent less tax in 2009-10 than the year before despite a sharp rise in the local sharemarket.

Trilogy files $60 million class action against City Pac

28 April 2012 | Zoë Fielding

PRINT: 28 April 2012 | PAGE 30 | City Pac in $60 million class action

A $60 million damages claim has been filed against directors and officers of City Pacific, a company formerly the responsible entity of Pacific First Mortgage Fund.

Managers throw a lifeline

28 April 2012 | Ben Wilmot

PRINT: 28 April 2012 | PAGE 30 | Managers throw a lifeline

Gold coast mortgage funds were hard hit by the global financial crisis but one survivor is planning a new scheme to keep afloat.

Reshuffle at top as ethical fund slides

26 April 2012 | George Liondis

PRINT: 26 April 2012 | PAGE 31 | Reshuffle at top as ethical fund slides

Australia’s largest ethical fund manager, Hunter Hall International, has made changes to its management and investment teams after a period or poor returns and falling profits.

Eyes fixed on the greater good

23 April 2012 | John Stensholt

PRINT: 23 April 2012 | PAGE 25 | Eyes fixed on the greater good

Melbourne entrepreneur Jeff Chapman has built a successful funds management business after making his fortune in the tech boom. Giving to good causes is part of the Bennelong group culture, boss Chris Cunningham explains.

Chapman’s wealth minted in the dotcom boom

23 April 2012 |

PRINT: 19 April 2012 | PAGE 25 | Wealth minted in the days of dotcom boom

It was the heady days of the original internet and media boom and Jeff Chapman’s sports television and production company was growing rapidly. The Melbourne entrepreneur had moved his Sportsworld Media Group to London and listed it on the London Stock Exchange in 1998 via a reverse takeover. Sportsworld’s shares soared almost six times in value between then and 2000.

Downside of super engineering

21 April 2012 | Brian Toohey

PRINT: 21 April 2012 | PAGE 49 | No compelling case for higher super

Compulsory super distorts the systems it was supposed to make more equal, and lower paid members may be worse off than if left to make their own decisions.

Too many on the government teat

14 April 2012 | Brian Toohey

PRINT: 14 April 2012 | PAGE 45 | Too many attached to government teat

Toohey | It seems almost every retiree claims to be self-funded, despite getting the pension and super tax concessions. And they’re far from alone.

Outsiders lose inside running

14 April 2012 | Penny Pryor

PRINT: 14 April 2012 | PAGE 29 | Outsiders lose inside running

The role of asset consultants – superannuation funds’ traditional investment advisers – is coming under the spotlight.

LIC your portfolio into shape

14 April 2012 | Bina Brown

PRINT: 14 April 2012 | PAGE 29 | LIC your portfolio into shape

Exchange-traded funds and listed investment companies are catching the eye of investors disillusioned with unlisted options.

Pros and cons of listed investment companies

14 April 2012 | Bina Brown

PRINT: 14 April 2012 | PAGE 29 | Pros and cons

Listed investment companies are closed-ended: they do not regularly issue new shares or cancel shares as investors join and leave, so management can take a medium to long-term investment focus.

Ahead of the pack

14 April 2012 | Bina Brown

PRINT: 14 April 2012 | PAGE 27 | AHEAD OF THE PACK

When it comes to the large-cap funds, the evidence suggests it’s not the big-brand names that are the most consistent performers. So, which five funds have outperformed the benchmark?

Xiradis’ eye on Belgian sale

12 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 12 April 2012 | PAGE 24 | Xiradis’ eye on Belgian sale

It’s show time for Aussie funds management business Ausbil Dexia, with the information memorandum touting the sale of its parent, Dexia Asset Management, sent to registered buyers in the past three days.

Small-cap funds set hot pace

11 April 2012 | Ruth Liew

PRINT: 11 April 2012 | PAGE 20 | Small-cap funds set hot pace

More than 70 per cent of fund managers investing in the small-cap sector beat the index over the last three years, research from Morningstar shows.

At long last Elmer Funke Kupper

10 April 2012 | Mark Hansford

PRINT: 10 April 2012 | PAGE 49 | At long last Elmer

Finally Australian Securities Exchange boss boss Elmer Funke Kupper – who is not a Sydney stockbroker – has recognised the West Australian power house (“ASX reforms have West in mind”, April 4).

Performance fees hard to figure out

05 April 2012 | John Wasiliev

PRINT: 05 April 2012 | PAGE 35 | Performance fees hard to figure out

A reader questions the fees charged by managed funds, in particular funds that charge a performance fee once returns exceed a nominated rate of return.

BlackRock works on building its brand

04 April 2012 | Alexis Leondis

PRINT: 04 April 2012 | PAGE 23 | BlackRock wants to build brand

Laurence Fink, who built BlackRock into the world’s biggest asset manager, is seeking to increase the organisation’s clout beyond Wall Street to the wider public.

Options open for MF Global clients

04 April 2012 | John Kehoe

PRINT: 04 April 2012 | PAGE 19 | Options open for MF Global clients

Clients owed more than $300 million by collapsed broker MF Global Australia have been approached by local and offshore investors interested in buying client debts.

Capital concern takes centre stage

04 April 2012 | Andrew White

PRINT: 04 April 2012 | PAGE 17 | Capital concern centre stage

The Australian Securities and Investments Commission has warned company directors they need to do a better job explaining capital raisings to investors.

Big funds’ blatant self-interest

03 April 2012 | Dan Feldman

PRINT: 03 April 2012 | PAGE 57 | Big funds’ blatant self-interest

I read with amusement the complaints from the large Australian fund managers about the allocation process on share placements. They argue that placements should be allotted to existing shareholders so they don’t get diluted (“Equity issues – a question of equity”, April 2).

Traders on hop to avoid being Easter bunnies

03 April 2012 | John Wasiliev

PRINT: 03 April 2012 | PAGE 37 | Traders on hop to avoid being Easter bunnies

Derivative traders switched their focus from banks and defensives like retailers to major miners and commodities ahead of today’s Reserve Bank decision on interest rates.

Retirement and making it work

03 April 2012 | Jeremy Cooper

PRINT: 03 April 2012 | PAGE 23 | Retirement and making it work

Jeremy Cooper | We need a serious and open-minded discussion about the purpose and design of our retirement system and the ability of each asset class to play its role.

WAM raising $170m, thanks to FoFA reforms

02 April 2012 | John Kehoe

PRINT: 02 April 2012 | PAGE 19 | WAM raising $170m, thanks to FoFA

The end of trailing commissions means that listed investment companies such as WAM Capital are now on a level footing with managed funds.

Big picture man has offbeat eye

28 March 2012 | Barrie Dunstan

PRINT: 28 March 2012 | PAGE 36 | Big picture man has offbeat eye

AllianceBernstein’s “big picture” man, Vadim Zlotnikov, has a sharp eye for offbeat investment trends.

Vigilance, caution – bonds watchwords

28 March 2012 | Sally Patten

PRINT: 28 March 2012 | PAGE 33 | Vigilance, caution - bonds watchwords

With the local equity market having fallen last year and Australian and international bonds winning the prize for the top performing asset classes of 2011, investors have been left wondering where they should be headed in 2012.

Synthetic ETFs: another layer of complication

28 March 2012 | Adam Courtenay.

PRINT: 28 March 2012 | PAGE 7 | Synthetic ETFs offer serious complexity

Given that the whiff of the GFC has yet to go away, and people still blame confected mortgage products for the mess, it’s no surprise that synthetic exchange traded funds have come under the microscope.

Are ETFs simple solutions or frantic failures?

28 March 2012 | Jeremy Chunn

PRINT: 28 March 2012 | PAGE 5 | Mirror may not always offer best reflection

Investors should be careful what they wish for when seeking the simplicity of exchange traded funds (ETF) over volatile and highly fragmented sectors.

Investing framework needs rejigging

26 March 2012 | Graham Sale

PRINT: 26 March 2012 | PAGE 51 | Investing framework needs rejigging

I’d like to add to Greg Cooper’s comments (”Time to rethink investing”, March 21). The bias towards equities is actually hard wired into financial planning via the risk profiling compliance process.

Time to rethink investing

21 March 2012 | Greg Cooper

PRINT: 21 March 2012 | PAGE 59 | Time to rethink investing

This week’s debate on the merits of bond investment over equities sparked by former Treasury Secretary Ken Henry has a point (“Super funds overloaded with shares”, March 17-18). The Australian institutional investment landscape is dominated by the thinking that equities outperform bonds over any time horizon that matters. This is simply not the case.

Funds told to show their hand

21 March 2012 | Barrie Dunstan

PRINT: 21 March 2012 | PAGE 8 | Funds asked to show their hand

Superannuation funds should disclose their asset allocations and compare them with those of offshore funds that have comparable return goals, the corporate regulator says.

Super funds won’t yield on strategy

20 March 2012 | Sally Patten

PRINT: 20 March 2012 | PAGE 3 | Super funds won’t yield on strategy

Superannuation fund bosses have hit back at Ken Henry’s call for a re-think of their investment strategies, saying that bonds were no panacea for the $1.3 trillion retirement savings industry.

Perpetual keeps the pundits guessing

19 March 2012 | Duncan Hughes

PRINT: 19 March 2012 | PAGE 33 | Perpetual keeps the pundits guessing

Bulls insist Perpetual is a gilt-edged brand-name that is responding to cost cuts and other initiatives, while bears question whether the latest growth strategy will be sufficient to turn the business around.

Fund manager plans big push into Australia

19 March 2012 | Duncan Hughes

PRINT: 19 March 2012 | PAGE 26 | Fund manager plans big push into Australia

Henderson Group, the London-based fund manager whose largest shareholder is rival Perpetual, is preparing for a push into the Australian market.

Investors win as Count cuts costs

19 March 2012 | Sally Patten

PRINT: 19 March 2012 | PAGE 20 | Investors win as Count cuts costs

Count Financial has slashed the price of its investment products and introduced a raft of incentives aimed at shoring up loyalty in its financial planners after being acquired by Commonwealth Bank late last year.

Carlyle boosts board, reports $US1.4bn income

16 March 2012 |

The Carlyle Group disclosed on Thursday that it had filled out its board with seven new members, and that it earned a healthy profit last year.

Global investment: An industry veteran reflects . . .

14 March 2012 | Barrie Dunstan

PRINT: 14 March 2012 | PAGE 36 | An industry veteran reflects . . .

John Fraser is perhaps unique among global asset management chief executives, having years as chief executive of UBS Global Asset Management, on top of 20 years in Treasury in Canberra.

Different types of ETFs

10 March 2012 | Chris Wright

PRINT: PAGE 28 | A world of choice

Not all ETFs are the same. Here we outline the main types and their providers.

Bold new way to invest

10 March 2012 | Chris Wright

PRINT: PAGE 26 | A bold NEW WAY TO INVEST

From the end of this month it will be possible to bypass traditional avenues and build an entire portfolio out of exchange-traded funds.

BlackRock’s vision for growth

07 March 2012 | Barrie Dunstan

PRINT: 07 March 2012 | PAGE 36 | BlackRock’s vision for growth

With $3.2 trillion of assets under management, BlackRock still sees room for more growth.

Labor called to account

06 March 2012 | Jennifer Hewett

PRINT: 06 March 2012 | PAGE 2 | Labor called to account

It’s too polite to call Wayne Swan’s attack on mining billionaires a version of class warfare. The Treasurer’s assault is far more inane.

Macquarie winds up events fund

05 March 2012 | stephen shore and Anthony Macdonald

Macquarie Funds Group has closed its Australian event-driven hedge fund, telling clients the fund had become too expensive to manage without significantly increasing the management feel.

Preservation before accumulation

03 March 2012 | Barrie Dunstan

PRINT: 03 March 2012 | PAGE 24 | Preservation before accumulation

Many investors now realise that their strategies will need to change just as investment markets have changed. So what advice did two contrasting overseas experts – Marc Faber, the “Gloom, boom and doom” report man, and Thierry Malleret, a Swiss economist best known for his role in establishing the Davos World Economic Forum – give some of our leading investors?

AMP team talks deals in Tokyo

02 March 2012 | Duncan Hughes

PRINT: 02 March 2012 | PAGE 23 | AMP team talks deals in Tokyo

A team of AMP Capital investment chiefs is headed to Tokyo to discuss product strategies for the Japanese market after signing a $425 million alliance with Mitsubishi UFJ Trust and Banking.

Delay likely for financial advice plan

01 March 2012 | Duncan Hughes

PRINT: 01 March 2012 | PAGE 4 | Speedbump

Key elements of reforms to the way investors receive financial advice will be delayed by up to 12 months, if the federal government adopts a parliamentary committee report.

Foreign hedge funds may access China soon

29 February 2012 |

China has decided in principle to allow foreign hedge funds to raise capital on the mainland in a move that can open up opportunities for capital-starved Asian hedge funds.

PE giant shopping for partners

28 February 2012 | James Eyers

PRINT: 28 February 2012 | PAGE 46 | PE giant shopping for partners

Competition for private equity funding is intense. So the pitch to local investors by the offshore private equiteers targeting the deep, Australian superannuation pool can be instructive, given their insight into limited partner thinking around the world.

Funds make a beeline for Port Botany

28 February 2012 | Sarah Thompson and Stephen Shore

PRINT: 28 February 2012 | PAGE 20 | Global funds make a beeline for Port Botany

The deadline to lodge bids for the $2 billion sale of Port Botany is still three months away but the number of infrastructure funds circling the asset is growing rapidly.

Renowned brands strike right chord

27 February 2012 | Andrew White

PRINT: 27 February 2012 | PAGE 24 | Renowned brands strike right chord

One of the secrets of the appeal of the Magellan funds to retail investors might be the preponderance of international retail brands in the portfolio.

Blackstone has the real estate knack

27 February 2012 | Gretchen Friemann

PRINT: 27 February 2012 | PAGE 22 | Blackstone has the real estate knack

Blackstone, the New York-based private equity colossus, has stunned the market by raising $9.31 billion in less than a year for its latest real estate opportunity fund.

Hyperion wins domestic equities (small cap) award

25 February 2012 |

PRINT: 25 February 2012 | PAGE 28 | Hyperion Asset Management

It was a year when small caps avoided the macro depression, which consumed the rest of the market, according to Hyperion’s institutional business director Tim Samway.

Vanguard’s top of the range

25 February 2012 | Bina Brown

PRINT: 25 February 2012 | PAGE 26 | Vanguard’s top of the range

Broad diversification across a range of fixed interest securities has proved a winning strategy for Vanguard.

Time for a fees face-off

25 February 2012 | Bina Brown

PRINT: 25 February 2012 | PAGE 26 | time for a fees face-off

When management fees make it impossible to outperform a benchmark index, something’s got to give.

Schroders takes home multisector award

25 February 2012 | Bina Brown

PRINT: 25 February 2012 | PAGE 28 | Schroders

A cautious approach towards equities and a bias towards credit continued to pay off for the Schroder Balanced Multisector fund.

A winning methodology

25 February 2012 |

PRINT: 25 February 2012 | PAGE 26 | How to pick a winner

In determining the winners for its awards, Morningstar examines all eligible funds offered by each manager and conducts detailed analysis across all the funds.

Macro view helped Schroders win

25 February 2012 | Bina Brown

PRINT: 25 February 2012 | PAGE 25 | Macro view helped Schroders win

Maintaining stability among its fund teams was an important factor behind the success of Schroders, says managing director Greg Cooper.

AMP echoes call to delay finance laws

22 February 2012 | Duncan Hughes

PRINT: 22 February 2012 | PAGE 43 | AMP echoes call to delay finance laws

AMP chief executive Craig Dunn has joined other leading wealth managers to urge the federal government to set back the 1 July deadline for future of financial advice laws.

AMG goes boutique shopping

22 February 2012 | Barrie Dunstan.

PRINT: 22 February 2012 | PAGE 32 | AMG goes boutique shopping

Affiliate Managers Group is hoping to recruit Australian boutique fund managers to its stable of affiliates.

Big funds may opt out of risk system

20 February 2012 | Barrie Dunstan

PRINT: 20 February 2012 | PAGE 46 | Big funds may opt out of risk system

Some big funds may choose to opt out the non-compulsory non-standard risk-measurement system to be introduced on July 1.

Government rejects Greens super demands

20 February 2012 | Sally Patten

PRINT: 20 February 2012 | PAGE 44 | Greens super view ‘misconstrued’

The federal government has rejected Bob Brown’s demands for changes to the superannuation contributions tax as the Greens leader pointed to fresh research which, he claimed, highlighted the inequities in the retirement savings system.

Lazard picks, and holds, for value

20 February 2012 | Joanna Heath

PRINT: 20 February 2012 | PAGE 19 | Lazard picks, and holds, for value

For Lazard Asset Management’s Rob Osborn, the proclaimed death of “buy and hold” as an investment strategy could not be further from the truth.

Working out who’s best

18 February 2012 | Bina Brown

PRINT: 18 February 2012 | PAGE 29 | Search for the best

A great deal of rigour and analysis is used to determine the winners of Morngstar’s annual fund awards.

QIC ready to make a noise

17 February 2012 | Sally Patten

PRINT: 17 February 2012 | PAGE 47 | QIC ready to make a noise

Having accumulated $60 billion of assets to become the country’s third largest investor of institutional money, QIC is tired of being the quiet Australian.

US funds profit on big banks

17 February 2012 | Kevin Rose

PRINT: 17 February 2012 | PAGE 27 | US funds gain on big banks

Wall Street banks needed all the friends they could get in 2011. And in the fourth quarter, they found at least one group willing to stand on their side: some of the world’s largest hedge fund managers.

Price customers into the market

15 February 2012 | Barrie Dunstan

PRINT: 15 February 2012 | PAGE 32 | Price customers into the market

While some are critical of the government’s superannuation reforms and the emphasis on the lower-cost MySuper product, Vanguard group’s Jim Norris welcomes the trend.

Semi-government securities offer opportunities

15 February 2012 |

PRINT: 15 February 2012 | PAGE 26 | Don’t overlook Semi-government securities

Bond prices were the unexpected medal winner in 2011 and may climb further despite their near 60-year highs.

Reforms face a dark pool of doubt

15 February 2012 | Tony Boyd

PRINT: 15 February 2012 | PAGE 56 | Reforms face a dark pool of doubt

Proposed reforms to the regulation of the local $4.5 billion-a-day cash equities market are headed for serious trouble, judging from the submissions from ASX Ltd and Chi-X.

Exception to risk-return equation

13 February 2012 | Bianca Hartge-Hazelman

PRINT: 13 February 2012 | PAGE 19 | Exception to risk-return equation

David Paradice sees himself as a conservative investor but one who is able to deliver portfolio returns of 18 per cent a year by selecting winning small-cap companies.

Hedge funds back in the mood

10 February 2012 | Barrie Dunstan

Hedge fund managers no longer assume that markets behave rationally. Investment strategies have to allow for sudden mood swings.

DIY trustees getting technical

09 February 2012 | Ruth Liew

PRINT: 08 February 2012 | PAGE 55 | DIY trustees getting technical

Mercurial sharemarkets and incoming regulatory changes are heaving pressure on thousands of nervous DIY super trustees to focus on technology to help tackle new challenges in running their funds.

Hedge funds reflect optimism

09 February 2012 | Kelly Bit

PRINT: 09 February 2012 | PAGE 29 | Hedge funds reflect optimism

Hedge funds gained 0.2 per cent in January as equities around the world had the best start in 18 years after US economic growth showed signs of accelerating and European leaders moved closer to a solution for the region’s debt crisis.

IFM wins $500m mandate

08 February 2012 | Duncan Hughes

PRINT: 08 February 2012 | PAGE 54 | IFM wins $500m mandate

Industry Funds Management has won a $500 million mandate from the prestigious California State Teachers’ Retirement System, the second-biggest pension fund in the US.

Perpetual gets a grip on reality

07 February 2012 | Tony Boyd

PRINT: 07 February 2012 | PAGE 56 | Perpetual gets a grip on reality

In the elevated world of the directors’ club, there is an expression that sums up yesterday’s ground-shaking developments at Perpetual: “Recognise reality and show some courage.”

Perpetual gains on new man at helm

07 February 2012 | Bianca Hartge-Hazelman

PRINT: 07 February 2012 | PAGE 42 | Punters look on the bright side, for now

On the face of it, investors appear to have cheered the appointment of Geoff Lloyd as Perpetual’s chief executive. But analysts say there’s a lot more to it.

Lloyd must woo Perpetual fund managers

07 February 2012 | Sally Patten

PRINT: 07 February 2012 | PAGE 42 | Lloyd must woo Sevior’s successors

One of Geoff Lloyd’s key tasks in his new role leading Perpetual will be to get to know, and earn the respect of, the fund managers.

Fear robs US investors of their appetite

07 February 2012 | Nikolaj Gammeltoft

PRINT: 07 February 2012 | PAGE 25 | Fear robs US investors of their appetite

The S&P 500 index’s best start in 25 years is doing little to restore Americans’ confidence in the sharemarket.

Raising to set Gunns debt-free

06 February 2012 | Stephen Shore

Timber company Gunns has placed its shares in a trading halt until Wednesday, pending completion of an equity placement and capital raising.

Sweetheart deals: fear of tears

06 February 2012 | Duncan Hughes

PRINT: 06 February 2012 | PAGE 46 | Sweetheart deals: fear of tears

Wealth managers are using sweetheart deals to attract and retain advisers and their funds under management, despite fears that continued weak markets could put pressure on their balance sheets if a large number take up the terms.

Details, details – super seeks certainty

06 February 2012 | Barrie Dunstan

PRINT: 06 February 2012 | PAGE 45 | Details, details – super seeks clarity

The super industry is confronting the reality of reform deadlines that start from July 1. But funds don’t know when they’ll see final details of legislation.

Investors told to look offshore for opportunities

06 February 2012 | Bianca Hartge-Hazelman

PRINT: 06 February 2012 | PAGE 21 | Wealth boss advises against home bias

Australian investors lack diversification on a global scale and need to open their minds to the world of investing offshore, despite the challenges that exist in the world economy, says the head of Principal Global Investors Jim McCaughan.

Neilson works hard to put bad year behind

01 February 2012 | Sally Patten

PRINT: 01 February 2012 | PAGE 45 | Neilson works hard to put bad year behind

Kerr Neilson, Australia’s richest fund manager, is recovering from his worst year on record. It must be an odd feeling for a fund manager who is far more used to shooting the lights out.

Djerriwarrh Investments (DJW)

31 January 2012 | Jane Searle

PRINT: 01 February 2012 | PAGE 22 |

Listed investment company Djerriwarrh Investments focuses on yield, and attracts investors who are otherwise unnerved by shaky equity markets.

Companies briefs

31 January 2012 |

PRINT: 31 January 2012 | PAGE 16 |

Timber company Gunns has been granted an extension to its $340 million core syndicated lending facility and primary working capital facilities until December 31.

High standards expected

30 January 2012 | MARK AVERY

PRINT: 28 January 2012 | PAGE 43 | Standards expected

Like Giles Pickford, I make my own financial decisions (Letters, January 27). High standards should be expected of all professions, including financial planners.

Perpetual struggles in post-Sevior era

30 January 2012 | Jane Searle

PRINT: 30 January 2012 | PAGE 36 | Perpetual struggles in post-Sevior era

Fund manager Perpetual risks further losses of client funds long after the departure of its former star stock picker, John Sevior.

BT’s top fixed-interest fund stays long on commonwealth bonds

30 January 2012 |

PRINT: 30 January 2012 | PAGE 20 | BT’s top fixed-interest fund stays long on commonwealth bonds

Since joining BT from Aviva Investors in London in November 2009, Mr Gor has taken responsibility for all five of BT’s fixed income product offerings.

Mr 58 per cent

28 January 2012 | Sally Patten

PRINT: 28 January 2012 | PAGE 45 | Mr 58 per cent

As an independent, Evergreen Capital is free to benefit from both share price rises and falls.

Take control: it’s your super

28 January 2012 | David Potts

PRINT: 28 January 2012 | PAGE 24 | take control It’s your SUPER

If you want to make your money work as hard as you do, learn to understand your super fund and its investment options so you know why and when to change them.

Picking losers a popular response to volatility

25 January 2012 | Ruth Liew

PRINT: 25 January 2012 | PAGE 26 | Picking losers a popular response to volatility

Australian long-short funds have largely outperformed the sharemarket during a dismal year for equities returns in 2011.

How best to diversify your nest

25 January 2012 | John Wasiliev

PRINT: 25 January 2012 | PAGE 32 | How best to diversify your nest

Since the sharemarket boom came to an abrupt halt during the 2007-08 financial year, many do-it-yourself super fund trustees have adopted a more defensive approach to investing.

Cash pile builds up

25 January 2012 |

PRINT: 25 January 2012 | PAGE 28 | Cash pile builds up

The last time local investors had this much cash sitting on the sidelines was in the major bear market in the early 1990s. Some analysts suggest it might stay high for some time.

ASIC: Just 3pc of financial plans good for clients

25 January 2012 | Ruth Liew

PRINT: 25 January 2012 | PAGE 3 | ASIC: Just 3pc of financial plans good for clients

Only 3 per cent of financial plans prepared by advisers were “good” for ­clients, an undercover surveillance operation by the Australian Securities and Investments Commission found.

Shorten blind-sided on FoFA

24 January 2012 | Tony Boyd

PRINT: 24 January 2012 | PAGE 48 | Shorten blind-sided on FoFA

Bill Shorten must have wondered what hit him when financial planners revealed glaring holes in his financial advice reforms.

Financial briefs

24 January 2012 |

PRINT: 24 January 2012 | PAGE 37 |

Westpac Banking Corp will follow the lead of rival Commonwealth Bank of Australia and issue covered bonds targeting Australian investors.

Cash in on super deals

21 January 2012 | Gayle Byrant

PRINT: 21 January 2012 | PAGE 27 | Cash in on super deals

People who whinge that they would be better off investing in cash than super need to grasp some financial basics. It is entirely possible to invest all your super or just part of it in cash as most funds offer that option.

Your questions | Leave your spouse an income

20 January 2012 | John Wasiliev

PRINT: 21 January 2012 | PAGE 29 | Leave your spouse an income

Can you clarify whether a clause allowing the nomination of a reversionary beneficiary must be included in a DIY fund trust deed at the time of the commencement of the pension or whether the deed may subsequently be amended?

Oh super . . . we’ll be all worked up

19 January 2012 | Sally Patten

PRINT: 19 January 2012 | PAGE 43 | Oh super . . . we’ll be all worked up

The 2012 local share fund manager league tables, published this week by investment consultancy Mercer, were more than merely depressing. The figures reinforced my worst fears – I am going to have to work longer. And save more.

IOOF to take back control of equities

18 January 2012 | Leng Yeow

PRINT: 18 January 2012 | PAGE 46 | IOOF to take back control of equities

Listed wealth manager IOOF is preparing to take control of a portion of its $9 billion multi-manager portfolio, which was outsourced to external fund managers including the firm’s own subsidiary, Perennial Investment Partners.

When caution becomes an asset

18 January 2012 | Sally Patten

PRINT: 18 January 2012 | PAGE 32 | When caution becomes an asset

Huge amounts of debt must be repaid before economic gloom can lift, Investors Mutual analyst Hugh Giddy says.

IOOF faces tough times

18 January 2012 | Duncan Hughes

PRINT: 18 January 2012 | PAGE 28 | IOOF faces tough times

It’s been a tough 12 months for IOOF shareholders, who have seen the value of their shares plunge by more than one-quarter as revenues were hit.

Video | Poor fund management

17 January 2012 |

Australian fund managers performed below the index after fees in 2011. Chanticleer columnist Tony Boyd explains what the results may mean for investors.

The case for lifetime annuities

17 January 2012 | Geoffrey Kingston

PRINT: 17 January 2012 | PAGE 47 | The case for lifetime annuities

Opinion | The super industry has attracted rent seekers, its industry funds enjoy regulatory privileges and the system has overweighted shares.

Fund managers lick wounds after 2011 drubbing

17 January 2012 | Ruth Liew

PRINT: 17 January 2012 | PAGE 39 | Fundies lick wounds after drubbing

Australian equities fund managers are hoping for a better year after suffering double-digit losses in 2011. Only one long-only local share fund manager posted positive returns, a Mercer survey shows.

Stockpickers do a dismal job

17 January 2012 | Sally Patten

PRINT: 17 January 2012 | PAGE 39 | Stockpickers do a dismal job

It has been another dismal year for Australian fund managers.

Telstra: special dividend on table

17 January 2012 | Tony Boyd

PRINT: 17 January 2012 | PAGE 48 | Telstra: special dividend on table

David Thodey’s comments about capital management ought to reignite interest in a stock that was one of last year’s best performers.

Property briefs

16 January 2012 |

PRINT: 16 January 2012 | PAGE 49 |

The Environment Court of New Zealand has approved plans by Westfield Group to expand St Lukes Shopping Centre in Auckland, New Zealand.

Fat margins rankle in a time of thin returns

16 January 2012 | Sally Patten

PRINT: 16 January 2012 | PAGE 45 | Fat margins rankle in a time of thin returns

Maple-Brown Abbott’s latest set of financial accounts is a timely reminder of the hefty margins available in the funds management industry.

RBS joins global banking risk flight

13 January 2012 | Joyce Moullakis and Brad Hatch

RBS aims to shrink its balance sheet by £120 billion, joining a global retreat from riskier banking functions. RBS chief Stephen Hester’s memo outlines his new focus.

QBE downgrade could force change

13 January 2012 | Tony Boyd

PRINT: 13 January 2012 | PAGE 48 | QBE downgrade could force change

Succession planning at QBE Insurance is likely to be accelerated this year in the wake of its stunning profit downgrade.

Clear the air on manager pay

12 January 2012 | Tony Boyd

PRINT: 12 January 2012 | PAGE 48 | Clear the air on manager pay

Greg Medcraft’s campaign to force super funds and their managers to disclose more about where money is invested is welcome.

Funds to list products on ASX system

12 January 2012 | Sally Patten

PRINT: 12 January 2012 | PAGE 37 | Funds plan to list products on ASX system

Some of the country’s biggest superannuation funds are drawing up plans to list their products on the Australian Securities Exchange’s new managed funds platform.

Caledonia decides to go short

12 January 2012 | Anthony Macdonald

PRINT: 12 January 2012 | PAGE 1 | Caledonia decides to go short

Fund manager Caledonia Investments will short-sell stocks for the first-time in its 20-year history in a bid to profit from structurally challenged companies in sectors such as retail and media.

Volatile markets cut profit at Maple-Brown Abbott

09 January 2012 | Sally Patten

PRINT: 09 January 2012 | PAGE 36 | Erratic markets cut profit at Maple-Brown Abbott

Unpredictable financial markets took their toll on boutique fund manager Maple-Brown Abbott last year.

RBS ready to reveal asset sale plans

09 January 2012 | Stephen Shore and Anthony Macdonald

PRINT: 09 January 2012 | PAGE 18 | RBS set to reveal asset sale plans

The United Kingdom chief of Royal Bank of Scotland, Stephen Hester, is tipped this week to gently lift the lid on some of his businesses that are up for sale

Some good advice: lift service levels

07 January 2012 | Bina Brown

PRINT: 07 January 2012 | PAGE 25 | Some good advice: lift service levels

Managers are legally required to report to clients on fund performance, but there are no such requirements on advisers.

ETFs offer a bigger bite at commodities

07 January 2012 | Jeremy Chunn

PRINT: 07 January 2012 | PAGE 25 | ETFs track commodities

Buying a basket of products without having to stock pick and hedge may offer a less risky exposure than buying individual shares.

Saving for kids isn’t child’s play

07 January 2012 | Debra Cleveland

PRINT: 07 January 2012 | PAGE 24 | Saving for kids isn’t child’s play

If you want to put away a sizeable sum for your children, you’ll need to think beyond just hiding it under the mattress.

Hastings defends jump in HDUF management fee

06 January 2012 | Kevin Chinnery

PRINT: 09 January 2012 | PAGE 33 | Hastings defends jump in HDUF management fee

APA Group has questioned the management fees earned by Hastings Funds Management for running listed pipeline owner Hastings Diversified Utilities Fund.

More warnings likely before pick-up in profits

06 January 2012 | Brendon Lau

PRINT: 07 January 2012 | PAGE 31 | More warnings likely before any pick-up in profits

Conditions for small cap companies are not expected to improve in the near-term following a tough 2011 as more profit warnings are expected before the reporting season.

Symond says Aussie’s back

06 January 2012 | Duncan Hughes

PRINT: 05 January 2012 | PAGE 39 | Symond says Aussie’s back

John Symond, the outspoken executive chairman of mortgage broker and financial services group Aussie Group, has put the credit crunch behind him and is readying for a comeback.

Wealth firms told to widen their offerings

05 January 2012 | Sally Patten

PRINT: 05 January 2012 | PAGE 36 | Wealth firms must widen their offerings

Australian asset management companies need to add more asset classes and improve their corporate culture if they are to succeed on the global stage, one of the local industry’s most respected veterans has argued.

ASX to trade managed funds

04 January 2012 | Sally Patten

PRINT: 02 January 2012 | PAGE 37 | ASX to trade managed funds

The ASX hopes to sign up asset managers who will allow their products to be traded on a new exchange platform when it launches this year.

FoFA reforms’ clout in doubt

04 January 2012 | Duncan Hughes

PRINT: 04 January 2012 | PAGE 36 | FoFA reforms’ clout in doubt

Financial planners aligned to the major product providers continue to predominantly recommend their own products, despite growing regulatory pressure, a wide-ranging survey of the superannuation and wealth management sector has found.

MLC takes over top spot

03 January 2012 | Duncan Hughes

PRINT: 03 January 2012 | PAGE 37 | MLC takes over top spot

MLC Group, the wealth-management division of National Australia Bank, has jumped to top spot for total wholesale funds under management.

2012 will be the year of the DIY funds

21 December 2011 | Ruth Liew

PRINT: 21 December 2011 | PAGE 41 | 2012: year of the DIY funds

Self-managed super fund trustees are tipped to be major players in Australia’s property market in 2012, as sharemarket woes and low cash deposit rates prompt investors to seek out the traditionally less volatile sector.

Financial services briefs

21 December 2011 |

PRINT: 21 December 2011 | PAGE 38 |

Westpac said it will defend itself in a $200 million class action against the big banks over allegedly unlawful fees.

Investa appoints banker to head Office Fund

20 December 2011 | Robert Harley

PRINT: 20 December 2011 | PAGE 41 | Investa appoints banker to head Office Fund

An international investment banker, Toby Phelps, will head the Investa Office Fund from February.

Expanding Intersuisse buys Austock securities arm

20 December 2011 | Matthew Drummond

PRINT: 20 December 2011 | PAGE 38 | Expanding Intersuisse buys Austock securities arm

Retail brokerage Austock Group has agreed to sell the bulk of its business to Australian investment house ­Intersuisse.

Climate warms on specialist fund front

20 December 2011 | Sarah Thompson, Christine Lacy and Stephen Shore

PRINT: 20 December 2011 | PAGE 18 | Climate warms on specialist fund front

It’s understood Ecofin Ltd, a global specialist in utilities, infrastructure and energy, has taken an undisclosed equity interest in Sydney-based Change Investment Management to establish Ecofin Australia.

Fund managers who like to be winners

19 December 2011 | Joanna Heath

PRINT: 19 December 2011 | PAGE 17 | Fund managers who like to be winners

When your aim is keeping on top of an exhaustingly volatile market, it helps to have a few athletes on the team.

Early steps in foreign equity

16 December 2011 | Kingsley Jones

PRINT: 16 December 2011 | PAGE 47 | Early steps in foreign equity

The ASX proposal to offer unsponsored depositary receipts (UDRs) is most welcome but I would caution domestic fund managers from getting too excited.

Perpetual sets revamp in motion

16 December 2011 | Duncan Hughes

PRINT: 16 December 2011 | PAGE 42 | Perpetual sets revamp in motion

Perpetual has launched Project Ice as part of its intention to overhaul its advice platform and restructure the way it markets financial products.