News

News

QSuper, Sunsuper members protest coal exposure

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

InvestorDaily

A group of Sunsuper and QSuper members has urged the funds to dump thermal coal and to disclose more information around investments, as the pair are on their way to merge. QSuper and Sunsuper recently signed an agreement for more detailed analysis and due diligence, taking one step closer towards merging and forming a $182 billion giant. But a total of 65 Sunsuper members and 141 consumers with QSuper have penned a letter to the funds, calling on QSuper chief of member experience Jason Murray and Sunsuper chief member officer Steven Travis to disclose:

– A complete list of the funds’ holdings.

– Emissions reduction strategies for the funds’ portfolios.

– If the funds have conducted portfolio-wide scenario analysis on climate change analysis.

– The engagement processes each fund undertakes with investee companies to reduce their carbon exposures.

The campaign is backed by the Australia Conservation Foundation, with economic analyst and campaigner May House, who is also a Sunsuper member, commenting the funds are well behind their industry peers on managing climate risks.

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

Evergreen nabs former Fidelity Australia CEO

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The former chief executive of Fidelity Investments in Australia has joined independent investment consulting firm Evergreen. Michael Ohlsson has joined Evergreen as an executive director and partner in the business. Lia Gunawan will also join as its strategic partnerships manager, reporting to Ohlsson.

“Evergreen is going through a significant growth phase. Our recent developments include the launch of a new ESG index, the Evergreen Responsible Investment Grade (ERIG) Index, and an investment portfolio stress testing tool for financial advisers,” said founder and director Angela Ashton. “We are committed to providing financial advisers with the solutions they need. We have had a very positive response to our new ratings business as well, Evergreen Ratings.” Mr Ohlsson was CEO and managing director of Fidelity in Australia and New Zealand from 2004 to 2007, prior to which he was the director of institutional business and adviser services at Barclays.

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

Allianz planning private credit investing expansion in India

Posted by Anton Murray Consulting on . Posted in News

AsianInvestor

German insurance giant Allianz’s latest $150 million commitment to an Indian real estate debt fund marks the latest step in a plan to raise its investment into the country’s private debt market from $650 million to $1 billion by the end of 2021. In March the insurer’s inhouse manager Allianz Investment Management committed $150 million to Kotak Investment Advisors (KIAL)’s $380 million real estate debt fund as part of this plan. Ritu Arora, chief executive and chief investment officer for Asia at Allianz IM, believes private debt in India should enjoy healthy growth, courtesy of rules changes in recent years and the limited access some local companies have to traditional lending.

“Sector reforms like RERA [the Real Estate (Regulation and Development) Act of 2016] have introduced more transparency [and] enhanced ease of doing business, thus strengthening our belief in the structural opportunity for private credit for an institutional investor,” she told AsianInvestor. Allianz IM’s investment into KIAL’s fund will target early- and late-stage commercial and residential real estate assets. Arora, who is also India adviser to the German insurer group’s board, explained that Allianz decided to make the investment in part because of the Kotak Mahindra Bank subsidiary’s 15-year history in alternative assets and experience in the Indian credit market.

The rest of this article can be found at asianinvestor.net.

Bidding war begins for Mainstream

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The fund administrator paused trading on Monday before it revealed it had indeed received a superior offer from US financial technology firm SS&C Technologies. SS&C has offered $2 per share for Mainstream, a 66.7 per cent increase on Vistra’s offer and valuing the group’s equity at around $285.7 million, including transaction costs and debt. As a result, Vistra will now have four days to match or to beat SS&C’s offer.

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

Sustainable bonds tipped to reach $300bn

Posted by Anton Murray Consulting on . Posted in Market Commentary

InvestorDaily

Financial institutions and development banks’ issuances of green, social and sustainability bonds globally are forecast to approach a high of $300 billion in 2021, according to Moody’s Investors Service. The movement would mark a rise of close to 30 per cent from 2020, when green, social and sustainability bonds totalled $225 billion. A new report from Moody’s has forecast the growth despite green instruments slightly cooling last year, expecting renewed momentum with supportive government policies in major jurisdictions, combined with strong investor demand and standardised regulations.

But there had been a pandemic-related rise in social and sustainability bond placements in 2020, with placement more than tripling to $123 billion, outweighing a 2 per cent decline in green bond volumes. The products issued by financial institutions and development banks had accounted for around half of the total global issuance, of $490.6 billion. Issuances in the APAC region grew to $15.2 billion in 2020, from $10.4 billion in 2019, accounting for 12 per cent of the total.

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

Citi launches Sydney wealth hub

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The multinational banking group has expanded its presence in the Australian wealth management market, opening a Sydney centre for high-net-worth clients. In a statement, Citi said it had opened a “wealth hub” within its Sydney CBD banking offices that was “designed to be a holistic knowledge sharing space” for high-net-worth clients. The group’s head of banking and wealth distribution Gofran Chowdhury said Citi had reconfigured the way it was engaging with this client group to deliver a more personalised experience, following the closure of its remaining physical bank branch in Australia in February.

“While 95 per cent of Citi’s banking interactions have been happening outside of branches for a number of years, our high-net-worth customers still value face to face interactions,” Mr Chowdhury said. “As a result, we’ve built a tailor-made space where we can deliver a strong level of personal engagement for these clients as we work together to provide investment guidance and manage their wealth.” Mr Chowdhury said following the establishment of a similar wealth hub for Melbourne clients in 2019, Citi’s assets under management had risen 12 per cent and the number of transactions the bank was processing for clients had doubled.

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

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