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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.

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

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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.

Australian Ethical FUM up 31% to $2.82bn

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

InvestorDaily

Continued strong membership growth has helped Australian Ethical post an underlying profit of $5 million, as well as increased funds under management of $2.82 billion. In its full year result, listed fund manager Australian Ethical has reported an underlying profit of $5 million (up 18 per cent on the prior year) and group funds under management of $2.82 billion (up 31 per cent) as at 30 June 2018. Net inflows for the fund manager were $519 million, up 14 per cent on the prior year. Overall revenues for the group were $36 million (up 27 per cent).

The healthy result is largely down to Australian Ethical’s superannuation membership growth, which was up 17 per cent to 41,518 to 30 June 2018 – much of which is attributable to the firm’s successful social media strategy. However, the firm also saw its operating expenses rise in line with revenues. Operating expenses were up 28 per cent year-on-year to $28.6 million. Commenting on the result, Australian Ethical chief financial officer Mark Simons said the increased expenses reflected increased headcount over the past two years along with a “strategic investment in marketing”.

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

Future Fund executive joins Mercer

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

InvestorDaily

The Future Fund’s head of investment operations has joined Mercer in the newly created role of head of fund implementation. Campbell McCulloch has joined Mercer after serving as the Future Fund’s head of investment operations for the past 11 years. Mr McCulloch will join Mercer in the newly created role of head of fund implementation, delegated solutions. His appointment follows the retirement of Mercer Pacific’s deputy chief investment officer Phil Graham, who joined Mercer in 2007.

Mercer Pacific chief investment officer Kylie Willment said there has been a “significant focus” on the structure of the Pacific Portfolio Management team. “Campbell’s outstanding leadership skills and proven track record will enable Mercer to efficiently implement our investment decisions, further cementing our ability to maximise the outcomes for our investors and clients,” Ms Willment said. “Phil [Graham] is highly respected by colleagues and peers and will be greatly missed. We are extremely proud of all that he has achieved in his time at Mercer and wish him well,” she said.

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