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‘Green’ investing won’t sacrifice dividends: AXA IM

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

InvestorDaily

Investors looking to implement low-carbon strategies can do so without affecting their dividend payouts, says AXA Investment Management Rosenberg Equities. Speaking in Sydney yesterday, AXA IM Rosenberg Equities head of sustainable investing Kathryn Mohan McDonald pointed to research conducted by the company that showed high dividend payout did not depend on investing in major polluters. “If I create the same quintile portfolios but without those largest 75 polluters, what would that do to my payout ratios?” Ms McDonald said.

“The fact of the matter is that it does very, very little to the payout profile. “The carbon footprint, for example, is improved by 50 per cent, but as it turns out, it doesn’t really make much of a difference in terms of my ability to find an attractive average dividend payout.” She said contrary to popular belief, a “green focus” would not “interrupt” investors’ search for attractive dividend yield.”

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

SSGA divests tobacco, weapons shares

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

InvestorDaily

State Street Global Advisors has announced its divestment of tobacco and controversial weapons shares in its State Street Global Index Plus Trust. Effective from 31 July, the Index Plus Trust has stripped 12 companies from its investment universe, several of which had business activities that involved tobacco, cluster bomb creation, landmines and chemical, biological and depleted uranium weapons, according to a statement. The divestment of these shares was due to “demand from the fund’s institutional investors” that it could still meet objectives without the presence of the companies.

There is growing momentum worldwide of investors adopting environmental, social and governance (ESG) considerations into their portfolios, the statement said. “We are keen to make ethical investing more accessible to all institutional investors, not just the very large ones able to utilise a separate mandate,” said SSGA Asia-Pacific head of portfolio strategists Jonathan Shead. “Our analysis suggests that removing these companies from the fund won’t affect its level of diversification at the country or sector level and that investors will continue to get the broad market exposure they are seeking.”

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

UBS Hires Rainmaker for China Push

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

finews.asia

UBS has poached a senior banker from rival Citigroup for a newly created position based in Hong Kong. UBS Investment Bank appointed Catherine Cai as executive vice chairman, according to an internal memo seen by finews.asia. Cai will join in December and will report to Andrea Orcel, the chairman of the division. She will have a cross-divisional and global remit and be based in Hong Kong. She will also be a member of the management committee for corporate client services.

Cai joins UBS from Citigroup, where she most recently was chairman and head of China investment banking. Prior to that she was at Merrill Lynch for more than 17 years, ultimately holding the position of chairman and co-head of China investment banking.

The rest of this article can be found at finews.asia.

Citi Bolsters APAC Prime Finance Team

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

Securities Lending Times

Citi has appointed Sebastien Mailleux as head of prime finance for the Asia Pacific. Mailleux will be based in Hong Kong and start his new role in November. He will report to David Russell, head of markets for the Asia region, as well as Adam Herrmann, global head of prime finance.

In his new role, Mailleux will be responsible for prime services, equity finance, agency securities lending and delta one across the Asia Pacific region, as well as Japan. Prior to Citi, Mailleux was head of prime trading at BNP Paribas. The appointment of Mailleux follows Citi’s recruitment of Jason Massey as head of sales for Europe, the Middle East and Africa (EMEA) futures, clearing and collateral.

The rest of this article can be found at www.securitieslendingtimes.com.

Sugar the next target for responsible funds

Posted by Anton Murray Consulting on . Posted in Funds Management MC, Funds Management News, Investment Banking MC, Investment Banking News, Market Commentary, News

InvestorDaily

Speaking in Sydney, Martin Currie Australia portfolio manager Will Baylis said while sugar was not being negatively screened in their income strategies at present, it could escalate as an issue in years to come. “I would suspect, down the track, that sugar may well become quite topical,” Mr Baylis said. In March 2017 AMP Capital released a report that found sugar was emerging as an investment risk for the global food and beverage industry.

“UNPRI (the United Nations Principles for Responsible Investment) are starting to raise the issue of sugar. So that is something that we would have to consider down the track, but we don’t today,” Mr Baylis said. Extending further, Mr Baylis said junk food could similarly become negatively screened, but that it was harder to screen for junk food than it was for sugar. “To my mind it may well be someone who manufactures and distributes junk food, but how do you define junk food?” he asked. According to Mr Baylis, sugar was more easily defined.

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