News

News

Aussies rate ESG factors in retirement planning

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

InvestorDaily

A new report has found that both employers and employees believe it is important to incorporate environmental, social and governance investing options when planning for retirement. The Global Retirement Reality Report from State Street Global Advisors found that 61 per cent of Australian fund member believed it was important that their investments incorporated companies with ethical values. This is an increase from last year when 47 per cent said it was important to incorporate ESG in their plan’s investments.

State Street noted that firms that adhere to environmental efficiency, social awareness and the highest governance standards are well positioned to withstand emerging risks and capitalise on new opportunities. Further, it believed that, as battles for employer default fund status are waged over the coming years, funds with a clear ESG proposition for both employers and prospective members will start with an advantage over their competitors. “For some industry participants, ESG considerations are at best a distraction, and at worst a detractor to returns,” the report said.

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

AB low-carbon strategy attracts first super fund

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

InvestorDaily

NGS Super has become the first super fund to invest in a low-carbon portfolio designed by global asset manager AllianceBernstein. The AB Managed Volatility Equities – Green strategy, launched in December 2018, is a unit class of the AB Managed Volatility Equities Fund. The strategy is based on the view that a well-constructed portfolio of low-volatility shares may not only limit losses in a portfolio but may also outperform the market over the long term.

NGS Super has invested approximately $170 million in the Green MVE strategy, which aims to achieve a positive impact on climate change all while delivering attractive investment returns. NGS Super chief executive Laura Wright, said investment in the strategy was in line with the fund’s overarching aim to deliver the best risk-adjusted returns in a way that reflects the values and attitudes of their organisation and members. “We’re committed to sustainable long-term investment options that work to give our members the best retirement outcomes and this strategy speaks directly to that goal,” she said.

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

Aussie investors ‘in a really good position’: DWS

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

InvestorDaily

A DWS fund manager spent a week in Australia fielding the same big question from local investors: where to put their cash. At a media lunch in Sydney on 20 September, DWS chief investment officer for APAC and head of emerging markets, Sean Taylor, said there are still plenty of safer options other than equities for Aussie investors to get a return on their money.  “One of the big question’s clients have been asking during my week in Australia is what to do with cash, or ‘how do we enhance cash?’” Mr Taylor said.

“A lot of people have been too cautious and they’ve lost out a lot this year. You don’t have to go to risky equities to get a return. You can go to infrastructure or real assets, which may not be as sexy as internet stocks, but they are a lot safer.”

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

Hong Kong’s blooming flowers are fading

Posted by Anton Murray Consulting on . Posted in Market Commentary

Finance Asia

Anti-government protests in Hong Kong highlight the increasing political risks as the city’s capitalist system converges with China’s socialist regime. Hong Kong will struggle to maintain its prosperity and role in the world as its politics converge with those of Beijing. But China’s finances are also at risk if the territory’s demise is abrupt.

Hong Kong, whose emblem is the bright red Bauhinia flower, draws its strength from its historical roots as a gateway for trade and finance between China and the rest of the world. As a Special Administrative Region, the city has been able to enter into treaties with counterparties that consider it distinct from China, further solidifying its position as an offshore centre.

This article can be found at financeasia.com.

AMP announces major restructure, CEO steps down

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

InvestorDaily

AMP has signalled it will be merging its banking and wealth management businesses into one combined organisation to be named AMP Australia, following the resignation of the company’s bank chief executive Sally Bruce. Heading the new AMP Australia unit will be current Australian wealth management chief Alex Wade. Rod Finch, currently managing director of wealth products and platforms, has been appointed to take the role of managing director, AMP bank.

Mr Finch will be reporting to Mr Wade when Ms Bruce steps down on 1 November. AMP chief executive Francesco De Ferrari said the internal consolidation reflected the company’s client-led strategy. “The strategy we set out in August is focused on reinventing AMP to be a client-led, simpler and more growth-oriented business,” Mr De Ferrari said.

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

Afterpay success disrupts bank’s credit card strategy

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

Superfund-owned bank ME has shelved plans to launch new credit cards after witnessing the success of “buy now, pay later” players like Afterpay and Zip. The bank posted its full-year results this week, which showed that statutory net profit after tax fell by nearly 25 per cent to $67.1 million, down from $89.1 million the previous year. The lender recorded $14.4 million of impairment losses in its credit card business.

ME CEO Jamie McPhee said the bank halted its work in bringing more credit cards to market after recognising a structural shift away from cards and was therefore focusing its work on digital wallets. He explained: “Our work on digital wallets is progressing. We wanted to bring that forward, and we’ve taken the opportunity to relook at the credit card market, and what we’ve been seeing is that the number of credit cards are in decline, while we’ve seen a significant increase in the buy now, pay later entrants Afterpay, Zip, Flexi,” he said.

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

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