Funds Management News

Funds Management News

Australia’s superannuation system to surpass $9 trillion by 2041

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

InvestorDaily

Total superannuation assets are projected to almost triple to over $9 trillion in 2041, from $3.4 trillion today. Australia’s superannuation landscape is poised for continuous growth, with total assets said to surpass $9 trillion within the next two decades. According to Deloitte’s new Dynamics of the Australian Superannuation System report, current growth has persisted in the face of COVID-19-led market volatility driven by both contribution inflows exceeding benefit outflows and robust investment returns.

But, looking forward, some funds are expected to flourish more than others, mostly owing to the Hayne Royal Commission and the resulting product closures and remediation exercises. As such, while industry funds are expected to balloon on the back of their strong current positioning and lower fees on average, growth in the retail sector is expected by virtue of existing scale but at a more subdued pace. SMSFs, on the other hand, are tipped to decline in market share in the next two decades as their older demographic transitions to retirement.

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

BetaShares announces appointment to new responsible investment role

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

InvestorDaily

The ETF manager has created the new position to drive its sustainable investment initiatives. BetaShares has appointed Suncorp executive Greg Liddell to the newly created role of director of responsible investments. In the new position, BetaShares said Mr Liddell would be responsible for driving its sustainable investment initiatives which will include investment stewardship, engagement, product development, investor education and thought leadership.

Mr Liddell previously held a number of senior sustainability positions during his tenure at Suncorp, most recently as executive manager for investment sustainability, where he also developed and implemented the firm’s first responsible investment policy. He has previously held roles at the Centre for International Financial Research, the Investor Group on Climate Change, Russell Investments and QIC. BetaShares CEO Alex Vynokur said the company was delighted to welcome Mr Liddell.

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

BlackRock adds to client distribution team

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

InvestorDaily

The asset manager has expanded its Australian team to meet the growth of its whole portfolio business. BlackRock Australia has announced a range of new appointments to its ​​client distribution team. Tamara Haban-Beer Stats has been named whole portfolio solutions director as part of BlackRock’s client business and will provide senior support to the firm’s whole portfolio clients in Australia and New Zealand.

She joins BlackRock with more than 15 years of experience in investment banking and was most recently a senior team member within JP Morgan’s strategic solutions group. According to BlackRock, the responsibilities of the role will include acting as a thought leader on a range of issues impacting the firm’s clients including embedding sustainability considerations in portfolio construction, risk management, trading and liquidity management, and the impact of regulatory changes. “The appointment of Tamara as our dedicated senior whole portfolio solutions client specialist reflects the rapid growth of our whole portfolio business and our focus on our clients as we help guide them through the dynamics of the wealth management environment,” said BlackRock head of client business, Australasia, Jason Collins.

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

ETF assets surpass US$10 trillion globally

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

InvestorDaily

The global ETF industry has grown by trillions of dollars in 2021 alone. Global ETF assets have now surpassed US$10 trillion following a period of record growth for the industry. The year 2021 has been a time of significant milestones for ETFs, with global assets reaching US$8 trillion in January and US$9 trillion in May, according to data from EPFR.

“Investors have undoubtedly shown an accelerated interest in ETFs on a global scale, highlighting what’s become the investment vehicle of choice for a large portion of the investing population,” said EPFR director of research Cameron Brandt. The firm has tracked ETFs since 2002 when assets totalled only about US$2 billion. ETF assets reached US$1 trillion in December 2009, US$5 trillion in January 2018 and US$7 trillion in October last year.

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

Future Fund recruits new chief economist

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

InvestorDaily

Australia’s sovereign wealth fund has announced the appointment of a new chief economist for 2022. Starting from 27 January, Toby Johnston will join the Future Fund following a global search process from Wellington Management where he worked as global macro strategist for over 17 years. Mr Johnston, who will report directly to CIO Sue Brake, will primarily focus on providing strategic advice and analysis on relevant global macro-economic issues to the agency and board of guardians.

Ms Brake said Mr Johnston’s appointment is an “important senior role” for the fund. “Toby is a deeply experienced and highly regarded investment and economics professional with global expertise,” Ms Brake said. “His appointment further bolsters the agency’s strategic investment capabilities and will enrich the quality and value of the advice we provide to the board as it navigates the new investment world.”

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

CBA receives regulatory approval for Colonial sale

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

InvestorDaily

CBA has revealed that all regulatory approvals for the sale of superannuation business Colonial First State have been received. Commonwealth Bank of Australia (CBA) has announced all regulatory approvals have been received for the sale of a 55 per cent interest in Colonial First State (CFS) to KKR. The transaction is expected to complete on 1 December 2021.

CBA first announced the CFS divestment to KKR for $1.7 billion last May, but faced backlash from the unions with the ACTU arguing it would not be in the best interest of members for CFS to be majority owned by a foreign private equity firm. The completion of the transaction is expected to result in a pro forma uplift to the Group’s CET1 ratio by 30 to 40 basis points. Earlier this month, the big four banks confirmed NPAT of $2.2 billion for the quarter in an unaudited trading update, while also noting increases to household deposits (up 12 per cent to $20.4 billion), home lending (up 7.6 per cent to $10.1 billion) and business lending (up 13 per cent to $3.1 billion).

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

Our clients include

* Prior invoiced clients across the region.