Funds Management News

Funds Management News

Perpetual announces new head of equities following resignation

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

InvestorDaily

Perpetual has promoted Vince Pezullo to the role of head of equities within Perpetual Asset Management Australia following the resignation of Paul Skamvougeras. In an ASX announcement on Monday, Perpetual confirmed that Mr Skamvougeras had made the decision to step down from the role, with Mr Pezullo taking over from him immediately. With over 26 years of experience in the industry, the firm said that Mr Pezullo has a deep understanding of its investment approach, process and philosophy as well as a proven ability to deliver strong performance through market cycles.

He originally joined Perpetual in 2007 and has been its deputy head of equities since 2016. CEO and managing director Rob Adams described Mr Pezullo as a highly respected portfolio manager. “His long tenure as deputy head of equities combined with Perpetual’s investment in succession planning and the resultant strength across our Australian equities team, provides us with confidence that this will be a seamless and successful transition,” said Mr Adams.

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

Private companies proving increasingly attractive to ESG investors

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

InvestorDaily

Private equity asset managers committed to ESG investing now manage over US$3 trillion (almost $4 trillion), or 36 per cent of the value of total global private market assets. This is a result of more and more institutional investors, particularly pension and superannuation funds, focusing their private market allocation on more ESG-oriented investments than they have in the past. There are some large institutional investors who, over the last two years, have shifted their entire private markets investment approach into a sustainable strategy, resulting in a greater need for ESG-focused private markets managers and investment themes.

This typically encompasses investing in private companies along a spectrum from integrating ESG for risk mitigation and performance enhancement through to fully fledged impact investment with specific goals of having a measurable environmental or social impact.

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

CareSuper and Spirit Super exploring potential merger

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

InvestorDaily

Industry super funds CareSuper and Spirit Super have announced they have entered into a preliminary non-binding memorandum of understanding (MOU) to explore a possible merger. If the two funds proceed with a merger, a combined fund with over 500,000 members and over $45 billion in funds under management (FUM) would be created. “Both funds have identified a shared common vision to potentially create a mid-sized fund that provides a distinct point of difference in the market,” CareSuper chair Linda Scott and Spirit Super chair Naomi Edwards said in a joint statement on Wednesday.

“Both funds will now undertake extensive due diligence, before any decision is made, to ensure a merger is in the best financial interests for members of both funds.” The super funds indicated that this process is expected to take several months, with both continuing to operate independently with no disruption to operations in the meantime. “Both CareSuper and Spirit Super members can be assured they will be kept informed of any material decisions. There is no change to any aspect of any member’s funds, investments or insurances as a result of this preliminary non-binding MOU,” Ms Scott and Ms Edwards said.

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

Vanguard Super opens to the public

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

InvestorDaily

With the vision of “reshaping superannuation for the benefit of all Australians”, Vanguard Super is launching with an accumulation product – Vanguard Super SaveSmart – which includes a MySuper default fund called Lifecycle, as well as a range of index-based diversified and single sector investment options as part of the choice menu, the firm said on Friday.  “Vanguard believes saving for retirement shouldn’t be complex. That’s why we’re delighted to launch Vanguard Super, a compelling new offer that combines real simplicity with smart, global investment expertise. We want to deliver members a low-cost, high-quality super fund that includes a default offer designed to move with them right through life,” Vanguard Australia managing director, Daniel Shrimski said.

“As the first new entrant into the Australian superannuation industry in years to gain an RSE licence, and launching despite industry consolidation, we’re here because we truly believe we can improve retirement outcomes for Australians and be a catalyst for much needed change in the industry.” Vanguard confirmed a 0.58 per cent yearly fee on its default options, representing the lowest in the Australian superannuation market for member balances under $50,000, and members aged 47 years and under.

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

Future Fund ‘resilient and well positioned’ to market shocks

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

InvestorDaily

The Future Fund has reported a 0.6 per cent fall in assets during the September quarter to $193.13 billion, down from $194.38 billion in the June quarter. Despite this fall, which came on the back of a negative 1.2 per cent return in the 2021-22 financial year, Future Fund chair Peter Costello said that the sovereign wealth fund has proved “resilient and well positioned” to shocks while also maintaining its long-term performance. Over the quarter, he noted that developed listed markets were down by 5.2 per cent. Annually, the Future Fund fell 3 per cent compared to a fall of nearly 8 per cent for the ASX 200.

Mr Costello said that the withdrawal of “exceptional” monetary and fiscal stimulus was reducing asset prices and introducing much more volatility. “The inflationary pressure unleashed by unprecedented stimulation, together with political events, has led to central banks tightening policies by raising interest rates,” he said. “Central banks are responding by tightening policy and will continue to increase rates to fight inflation, increasing the risk of a policy induced recession.”

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

Singapore’s asset management sector surges to record as funds expand

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

cna

Singapore’s asset management industry grew to a record size last year, outpacing global growth in the sector as the country benefited from more business from global and regional funds. The Monetary Authority of Singapore (MAS) said total assets under management in Singapore rose 16 per cent in 2021 to S$5.4 trillion ($3.8 trillion), compared with a global increase of 12 per cent to US$112 trillion last year. Hobbled by tough measures to combat COVID-19 in China and Hong Kong, entrepreneurs and investors are setting up shop or expanding their investment in Singapore.

The growth in assets was fuelled by a 30 per cent year-on-year jump in the alternatives sector that comprises private equity, venture capital, hedge funds, real estate and real estate investment trusts, according to a survey conducted by the MAS. “Within the alternatives sector, growth of private equity and venture capital assets under management was robust at 42 per cent and 48 per cent respectively,” the MAS said in its annual report on the sector. Private equity and venture capital managers reported dry powder, or committed but undrawn capital, totalling S$90 billion and S$5 billion, respectively, the survey showed.

The rest of this article can be found at channelnewsasia.com.

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