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(pictured: Cassandra Hardman) Global equity manager Johnston Asset Management has restructured its equity arrangements, with CIO Cassandra Hardman becoming the majority shareholder. Founder Richard Johnston retaining a minority interest. The firm, which is represented in Australia by John Schaffer’s Catallyst Advisors, has been managing a global mandate for Perpetual Investments since 2005. Hardman will continue to…

(pictured: David Braga)  Despite the increasing complexity of securities servicing – more cross border transactions, more derivatives, more private markets, more demand for information and transparency – there may be a silver lining for the big custodians. Maybe, for the first time in memory, they are able to differentiate themselves on capabilities rather than price….

(pictured: Sally Loane)  Sally Loane, the Financial Services Council chief executive, peppered the Government with criticism for considering taking changes to super to this year’s election during her address at the latest Women in Super lunch in Sydney last week. The lunch, which confirmed another round of the popular scholarships for Women in Super NSW…

(pictured: Matt Whineray) The New Zealand Superannuation Fund has made its first investment in a merger arbitrage strategy, committing NZ$200 million (A$183 million) to US hedge fund manager Ramius. The mandate focuses on investment opportunities arising through merger and acquisition transactions, predominately in listed companies in North America and Europe. Such event-driven strategies are rare in…

(pictured: Shaun Parkes)  Shaun Parkes, who joined J.P. Morgan in 2003 in London and who has headed up the firm’s Investor Client Management business in Asia ex-Japan since 2013, is replacing Laurence Bailey as head of Investor Services Sales for Asia Pacific at J.P. Morgan. Bailey, a J. P. Morgan veteran of more than 30…

(pictured: Sinclair Scholfield) Big super funds plan to lift their exposures to alternatives despite serious concerns about transparency and their own governance of those investments, according to a survey by State Street. Most big funds around the world, the survey shows, are also grappling with a new model for their members’ retirement. The survey –…

(pictured: Andrew Ang) Andrew Ang, sometimes referred to as the father of factor investing, came home to Australia last week. It was his first visit back since exiting academia in New York last July to become the global head of factor investing strategies at BlackRock. Here are some of his insights. Ang, born and raised in…

(pictured: Rupal Bhansali) Australian investors are concerned about when and how they should apply extra risk again to their equity portfolios but, perhaps, they should be focusing more attention on their fixed income exposures, according to Rupal Bhansali, the visiting CIO of global manager Ariel Investments. After several client meetings in Australia last week, Bhansali, who…

(pictured: Andrea West) Insurer AIA Australia and fund administrator Pillar Administration have been confirmed as the major sponsors of this year’s Chant West Super Fund Awards, the presentation of which will take place at the Ivy Ballroom in Sydney on May 4. The Awards are backed up by the Chant West analytical and advisory resources, which…

(pictured: Jeff Stangl) Investment firms aren’t living up to the high expectations of either institutional or retail clients, according to a new CFA Institute survey. And institutional investors are less tolerant of fund managers’ failures, the survey shows. The survey of 502 institutional and 3,300 retail investors in 10 jurisdictions including Australia and New Zealand found investment…

(pictured: Ian Woods) Listed firms need to better disclose their exposure to carbon emissions, according to Ian Woods, AMP Capital Australia head of environmental, social and governance research. Otherwise, it is difficult for investors to assess climate risk. In a paper published this month, Woods says carbon disclosure at the individual firm level is the “critical first…

(pictured: James Donald) For a value manager, it’s not all doom and gloom with emerging markets. Lazard’s James Donald says: “Emerging markets are probably the most unloved part of the world at the moment, but valuations are the best we’ve seen since 2008-2009.” Donald is a managing director and head of the emerging markets group…