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Vanguard Australia to launch new ethical ETFs

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

InvestorDaily

Vanguard Australia has announced plans to launch a suite of ethical international ETFs next month. Vanguard Ethically Conscious International Shares Index Fund and Vanguard Ethically Conscious Global Aggregate Bond Index Fund will offer investors access to broadly diversified international equities and international fixed income exposures. Vanguard Australia head of product and marketing Evan Reedman said the company was committed to diversifying its investors’ portfolios while maintaining low cost.

“We understand that some investors want products that allow them to achieve their investment objectives while also investing in line with their values. We are pleased to be offering ESG equities and fixed income funds that meet this need while maintaining the hallmarks of Vanguard funds, low cost and broad diversification,” he said. The new suite of funds adds to the existing ESG offering of Vanguard Australia, the Vanguard International Shares Select Exclusions Index Fund that was launched in 2016. “We have been offering screened ESG products internationally for almost 20 years and are excited to be able to provide more choice for Australian investors while leveraging our global scale and investment management expertise,” Mr Reedman said.

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

Gender diversity can reduce ESG risks: report

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

InvestorDaily

Companies with more women on their boards will be less likely to be tangled up in corporate environmental lawsuits, according to new academic research. A new study from the University of Adelaide, titled Are women greener? Corporate gender diversity and environmental violations, has found “direct links” between gender diversity on company boards and corporate environmental violations. The study looked at 1893 environmental lawsuits that were filed against 2001 US companies that currently or previously constitute the S&P Composite 1500 index between 2000 and 2015.

Companies with more female board directors tended to undergo less lawsuits – in fact, the average exposure to lawsuits was reduced by 1.5 per cent with every woman added to the board of directors, the study found. This, “on an average environmental lawsuit (US$204 million), could equate to a saving of US$3.1 million,” the statement said. Study author and Adelaide Business School senior lecturer Chelsea Liu said the findings could be explained by gender socialisation and diversity theory, which postulates that a group of people from different backgrounds tend to make better collective decisions because they contribute differing perspectives.

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

JP Morgan retains top spot for custody

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

InvestorDaily

JP Morgan is still the largest custodian in Australia, holding just under $800 billion in assets on behalf of Australian investors. The Australian Custodial Services Association (ACSA) has released statistics for the six months to 30 June 2018 that show total assets under custody for Australian investors grew by 4 per cent to $3.62 trillion during the period. JP Morgan remains the largest player in the Australian custody market, up 2.3 per cent from 30 June 2018 to $796.6 billion.

NAB Asset Servicing and BNP Paribas Securities Services retain their second and third places, with $553.3 billion and $485 billion in total assets under custody, respectively. While the total amount of custody has grown strongly (see chart, below) the amount of overseas client investment in Australia (assets held in sub-custody) also grew by 4.4 per cent during the first half of 2018 to $1.54 trillion. The mix of total assets in international markets has increased from approximately 28 per cent to 34 per cent since June 2014, said ACSA.

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

SuperFriend granted $429k for wellbeing project

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

InvestorDaily

Workplace mental health organisation SuperFriend has won a grant from WorkSafe Victoria to the tune of $428,911 to co-design a project aimed at improving the mental health of superannuation and insurance staff. In a statement, SuperFriend announced that the grant from the WorkSafe WorkWell Mental Health Improvement Fund – an initiative of the Victorian government – would go towards delivering the ‘Wellbeing on Call: Creating Thriving Contact Centres’ project. SuperFriend, one among four other recipients who have received funding, will co-design mental health programs and resources for staff working in superannuation and insurance contact centres.

The mental health organisation’s chief executive Margo Lydon said SuperFriend aimed to reduce suicide and mental illness in Australian workers, and that the funding would go towards this purpose. “Contact centre workers are often perceived as vulnerable and at risk of poor mental health due to the frontline nature of their jobs,” said SuperFriend chief executive Margo Lydon. “How they engage and work with customers not only impacts the customer experience, but also their own mental health, safety and wellbeing.

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

Former Westpac deputy CEO joins Macquarie

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

Westpac’s former deputy chief executive, Philip Coffey, has joined the boards of Macquarie Group and Macquarie Bank. In a statement to the ASX on Tuesday, Macquarie Group announced that Mr Coffey would become an independent director to both the boards of Macquarie Group and Macquarie Bank. He will serve as a member of Macquarie’s board nominating committee and board risk committee, effective immediately.

He has had previous board experience and currently serves as a non-executive director to Lendlease Corporation, a member of the Clean Energy Finance Corporation board, and chairs the Westpac Bicentennial Foundation. Mr Coffey has worked across Australia, New Zealand, the US, the UK and Asia and has worked in the areas of financial markets, funds management, balance sheet management and risk management. He spent more than two decades of his career in executive positions at Westpac, such as group chief financial officer and group executive, Westpac Institutional Bank.

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