News

News

Macquarie posts 56% profit jump

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

InvestorDaily

The firm has announced its results for the full year ending 31 March. Macquarie Group has reported a net profit after tax of $4.7 billion for the 12 months to 31 March, an increase of 56 per cent on the previous year. The firm’s assets under management (AUM) reached $774.8 billion during the period, up 37 per cent on a year earlier, which Macquarie largely attributed to its acquisition of Waddell & Reed Financial, AMP Capital’s private investment business and Central Park Group along with investment by private markets-managed funds and net inflows in public investments.

“While many of the regions and markets in which Macquarie operates saw heightened levels of volatility this year, our outstanding strategy to address key areas of unmet need in the community is unchanged,” said Macquarie Group MD and CEO Shemara Wikramanayake. “Over time, this has seen us build deep and differentiated franchises in each of our areas of activity, all of which delivered sound outcomes and strong performance in FY22.” The firm reported a 92 per cent increase in net profit contribution from market-facing activities undertaken by Macquarie Capital as well as its commodities and global markets businesses to $5.3 billion.

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

Global investment manager appoints sustainability director

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

InvestorDaily

The new director will be tasked with implementing the firm’s net zero commitments. Ninety One has announced the appointment of Daisy Streatfeild as sustainability director. While leading the global investment manager’s net zero strategy, Ms Streatfeild will also work with the investment teams to develop sustainability products and clients to assist their approaches to sustainable investing.

Ms Streatfeild joins Ninety One from the Institutional Investors Group on Climate Change (IIGCC), where she worked as programme director and helped to establish the Paris Aligned Investment Initiative. Prior to that, she worked as an advisor for sustainable infrastructure at the Inter-American Development Bank Group as well. “As a signatory to the Net Zero Asset Managers Initiative, Ninety One is committed to ensuring that our portfolios achieve net zero emissions by 2050,” Ninety One chief sustainability officer, Nazmeera Moola, said.

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

AMP inks Collimate deal with Dexus for upfront payment of $250m

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

IFA

Dexus confirmed on Wednesday it has agreed to acquire Collimate’s real estate and domestic infrastructure equity business from AMP Limited. AMP will receive a $250 million upfront cash payment, with a further possibility to bank another $300 million subject to Assets Under Management (AUM) retention over a nine-month period after completion. In addition, Dexus will acquire all of AMP’s existing and committed sponsor stakes in the platform for cash consideration expected to be up to approximately $450 million, subject to discussions with fund investors, pre-emptive rights processes and applicable consents.

In a separate filing with the ASX, AMP said it considers it unlikely the full $300 million earn-out will be received given current expected loss of AUM of approximately $3.0 billion. “In Dexus we have found a strong owner for the real estate and domestic infrastructure equity businesses, which will add significant value through their strong track record and experience in real estate and asset management. Their depth of talent will strongly complement our specialist teams,” AMP chief executive, Alexis George, is quoted saying in the filing.
The rest of this article can be found at ifa.com.au.

CBA chairman announces retirement

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

On Wednesday, 27 April, the big four bank announced that Catherine Livingstone AO has decided to retire from the board effective August 2022. The board has confirmed non-executive director Paul O’Malley as Ms Livingstone’s successor who will take on the position from 10 August 2022. Ms Livingstone joined the CBA board on 1 March 2016 before becoming chair on 1 January 2017.

“I have been honoured to serve as CBA’s chair through a time when the bank has addressed a number of complex challenges and in doing so, rebuilt is reputation as an organisation that seeks to deliver positive outcomes for its customers, people and shareholders,” Ms Livingstone said. “During the coronavirus pandemic, CBA has demonstrated unequivocally that a strong, stable, well-capitalised banking sector is vital to Australia’s economic and social wellbeing. “It is a tribute to the efforts of CBA’s 48,000 people that they have been committed to transforming the organisation into a simpler and better bank clearly focused on its customers.

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

Aussies will pay up to 80% more for ESG leadership: study

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

InvestorDaily

New research suggests that companies can achieve ‘substantial’ top-line growth by being a leader in ESG. A new study conducted by global management consulting firm, Kearney, has revealed that Aussies are willing to pay between 40 and 80 per cent more for leading performance across environmental, social and governance (ESG). Additionally, the firm found that between 20 to 35 per cent of Aussie respondents would be more willing to purchase goods and services with ESG leadership.

“Around the world, companies are trying to embrace ESG practices in an authentic way, but still tend to view ESG as a cost to the top line,” said Kearney ANZ ESG lead, strategic operations lead and partner, Kate Hart. “Our data shows that integrating ESG principles into a product’s life cycle can actually give companies the competitive advantage they are seeking, positioning them favourably in the eyes of consumers and helping their products to stand out from the crowd.” Kearney suggested that companies needed to meet three key requirements to benefit from the potential increased market share and pricing premium.

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

Technology sector dominates ‘resilient’ M&A landscape

Posted by Anton Murray Consulting on . Posted in Market Commentary

InvestorDaily

A new report has indicated that technology has now become the largest industry segment by M&A deal volume. Australian M&A deal volumes reached their highest level since 2010 in the 18 months to December 2021, Grant Thornton’s latest Dealtracker report has found, with a total of 1,606 transactions taking place over the period. The firm said that the COVID-19 pandemic had failed to reduce the appetite for deals and instead had positively influenced investments in many cases, with a record 1,146 deals taking place throughout the 2021 calendar year.

“As we look forward to the economy reopening resulting in improved market conditions and the continued weight of money, we should see deal activity remain strong and diversify across a greater number of sectors,” commented Grant Thornton partner and national head of corporate finance Paul Gooley. “Notwithstanding this position, should current inflationary pressures lead to increased funding costs and lower consumer spending and investment, there remains a risk that deal activity will slow and valuations ease as we are starting to see in IPO markets.” The number of M&A deals in the technology sector during the period surged by 42 per cent to a total of 456, accounting for 28 per cent of all deals and overtaking industrials as the top sector by deal volume.

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

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