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Janus/Henderson Merger Approved by Shareholders

Posted by Anton Murray Consulting on . Posted in News, Investment Banking News

Money Management

Henderson’s shareholders have approved all the resolutions by the requisite majority at the Extraordinary General Meeting, held yesterday, in connection with the recommended merger of Henderson and Janus Capital Group. Following the meeting, the nominal value of each share in Henderson’s issued capital had been converted from £0.125 to US$0.1547 and Henderson’s unissued share capital had been cancelled. Janus also announced that all the resolutions prosed at its stockholder meeting were passed by the requisite majority.

This means that both companies would follow the below timetable in respect of completion of the merger and the London de-listing, which stated that:

  • The final day of dealings in existing Henderson shares on the London Stock Exchange (LSE) would be 26 May 2017; and
  • The completion date would be 30 May 2017, on which:

o    The change of name to Janus Henderson Group plc would become effective;

o    The share consolidation would become effective;

o    The new Janus Henderson shares would be issued to Janus stockholders;

o    Trading in new Janus Henderson shares on the NYSE would commence; and

o    The London de-listing would become effective.

The rest of this article can be found at investmentcentre.moneymanagement.com.au.

Climate change top of mind for Aussie funds

Posted by Anton Murray Consulting on . Posted in News, Funds Management News

InvestorDaily

New research from the Asset Owners Disclosure Project has found Australian asset owners are second only to Europe when it comes to climate change risk. The Asset Owners Disclosure Project’s (AODP) Global Climate 500 Asset Owners Index found the 29 asset owners in Australia and New Zealand had an average B rating, with Local Government Super (LGS) topping the index as one of six organisations in the “leaders group”. LGS is one of three funds that, alongside First State Super and AustralianSuper, received the AODP’s highest rating for climate change risk in last year’s Global Climate 500 Index.

Fellow Australian asset owner Macquarie Bank, however, was rated the worst in the world outside of America and Japan when it came to climate change risk management, earning a D rating from the AODP. “This is a cause for concern, given that [Macquarie Bank] is set to acquire the UK’s Green Investment Bank,” the AODP said. Globally, the index found Europe to be the leading region for climate change risk, with the continent accounting for 20 of the 34 top-rated (AAA–A) organisations and an average CC rating for its combined 190 asset owners.

The rest of this article can be found at investordaily.com.au.

Strong quarter for Australian equities

Posted by Anton Murray Consulting on . Posted in News, Investment Banking News

InvestorDaily

Australian domestic equities delivered strong returns in the first quarter of 2017 despite weakness in January, according to Mercer. The S&P/ASX 300 index grew 4.7 per cent over the first three months despite a -0.8 per cent movement in January, Mercer’s March 2017 Sector Surveys found. The best performing sector of the market was the S&P/ASX 50 Accumulation index, which returned 5.3 per cent for the quarter, while the S&P/ASX Small Ords index delivered the lowest performance with 1.5 per cent, the survey said.

In industry, healthcare and utilities performed the best, returning 14.7 and 10.7 per cent respectively, while the telecom sector’s -4.5 per cent was the worst, Mercer said. Mercer’s data found that the median Australian shares manager “performed broadly in line with the index over the quarter” but is 0.6 per cent behind the index for the year to March. “Over the longer term periods of three and five years, the median manager has outperformed by 0.8 per cent and 1.3 per cent respectively,” the company said.

The rest of this article can be found at investordaily.com.au.

Large increase in first quarter M&A deals

Posted by Anton Murray Consulting on . Posted in News, Investment Banking News

InvestorDaily

Australian M&A deals throughout the first quarter of 2017 saw an increase of more than 50 per cent by value compared with the prior corresponding period, according to Mergermarket. The company’s M&A Market Trend Report for the first quarter of the year said there were 107 merger and acquisition (M&A) deals in Australia in the first quarter, cumulatively worth $28.3 billion. Much of this value was found in the energy, mining and utilities sector, which increased 8.1 times on the previous year to deliver $21.2 billion in total value, Mergermarket said.

“It contributed 74.9 per cent to Australia’s overall deal value, with this sector claiming the top three inbound deals,” the company said. Those top three inbound deals, for Duet Group, Coal & Allied and Alinta energy, accounted for 72 per cent of all M&A deal value in the energy, mining and utilities sector, the report said. The first quarter of 2017 also saw the country’s highest first quarter deal value in 15 years at $19.5 billion, comprised of 42 deals, Mergermarket said.

The rest of this article can be found at investordaily.com.au.

ANZ could list wealth business, says CEO

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

InvestorDaily

ANZ’s planned exit from product manufacturing could include the listing of some or all of ANZ’s wealth businesses on the ASX, says the bank’s chief executive. In an interview with ANZ’s BlueNotes publication, ANZ chief executive Shayne Elliott outlined further details of the bank’s previously flagged plan to sell its wealth management manufacturing businesses. “We have a really strong business that tends to be really focused on life insurance, and within that life insurance it’s very heavily focused on retail as opposed to group life, which is a good thing,” Mr Elliott said.

ANZ will still be distributing wealth management products to its customers, Mr Elliott said – but the bank will be “partnering” with a “world-class” product manufacturer. Mr Elliott claimed the decision has not been spurred by reputational damage done by wealth management scandals in the press, pointing out that ANZ will still be exposed to those risks given the bank will still be distributing products to its customers. “We have an obligation to provide these solutions to our customers. We’re a natural place that they can come and have a conversation about that. But that doesn’t mean that we need to be actually manufacturing the product,” he said.

 The rest of this article can be found at investordaily.com.au.