News

ASIC has launched proceedings against a financial information and advice provider, Port Phillip Publishing, and its chief executive over two articles which promoted an investment strategy allowing consumers to ‘piggyback’ the Future Fund’s allocations. Kristan Sayce, the chief executive, however, told the advertising and marketing industry newsletter Mumbrella that the proposed penalties were “excessive” and…

AIMA Australia is looking to introduce a Code of Conduct for its members – mainly hedge funds and other alternatives managers – at first covering the issue of diversity, the lack of which is a common problem throughout the financial services industry. Flagging a dialogue with members about diversity and a local Code of Conduct…

The business case for diversity among corporates at board and management levels is compelling, according to Research Affiliates, but the investment case requires more work to measure the excess returns from having a culture that embraces diverse and dissenting views. The Californian-based smart-beta manager, which partners with others to implement its strategies, says in a…

With the rise in impact investing – the most active direct investing segment of the ESG trend around the world – a group of 35 North American specialist private equity managers has co-published a report showing how the alpha potential is being realised in the nascent asset class. The report published last month, ‘The Alpha…

Castle Hall has launched the first of three in a series of due diligence ‘primers’ which outline key issues for investors to consider when research managers in a particular asset class or topic area. The consulting and research firm is a specialist global due diligence consultant, with an Australian and New Zealand office run by…

Factor investing continues to expand and mature, based on broadly favourable outcomes and investor satisfaction, but the real test will come, perhaps soon, when the many relatively recent adopters take their factor strategies through a market downturn, according to a new study. This may prove an inflexion point in which, should factor continue to meet…

iM Global Partner, an international investment and development platform, plans to enter the Australian market this year. As well as providing Australian firms access to liquid alternatives and smart beta strategies, the firm will also be on the hunt for new Australian fund managers to add to the platform. iM Global Partner is a boutique which…

Institutional investors are more trusting of their fund managers and advisors than individual investors and the level of trust, elsewhere in the world, has generally improved in the past couple of years, according to a global study by the CFA Institute. The study, ‘The Next Generation of Trust’, shows that while the levels of trust have…

Renewable energy is, arguably, the hottest asset sub-class of the moment. Some fund managers, such as Aquila Capital, have a long history in the renewables area and can point to many nuances which investors should consider. Unlike some other hot asset sub-classes, renewable energy is here to stay. Renewable energy is an investment theme for…

The two most important people involved in the transitions of the two largest asset servicing contracts currently on the move have, coincidentally, departed their respective firms. Next year is going to be a little more difficult than several fund operations people had expected. At Suncorp, which is transitioning about $20-25 billion from NAB Asset Servicing…

by David Chaplin The NZ Superannuation Fund (NZS) has swapped out one risk-arbitrage manager for another following the appointment of US-headquartered Neuberger Berman to a NZ$315 million (US$215 million) mandate. Neuberger fills the spot previously occupied by Ramius Advisors, which was recently sacked from its $315 million NZS merger arbitrage gig just two years after…

You can’t have a discussion about markets without the word “disruption” coming into it, says Richard Pzena, the US-based global value manager. He also says value managers no longer invest solely in under-priced old-fashioned companies. There is value to be found in old(ish) technology stocks too. Pzena, who started to come to Australia from his…