Funds Management News

Funds Management News

North investment platform’s AUM hits over $5bn

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

InvestorDaily

AMP has reported that assets under management (AUM) for North’s managed portfolio range has ticked over $5 billion — a 140 per cent increase over the last year. The news coincides with the announcement that three new portfolios will be added to the platform in the coming weeks – the Research Australian Equity Portfolio and the Research Australian Equity Income Portfolio managed by North’s research team, and the Elston Australian Large Companies Portfolio managed by Elston Asset Management. The new additions will take the total number of managed portfolios on North to 67.

It comes after a report from State Street Global Advisors (SSGA) and Investment Trends released in March found that a record number of financial advisers are using managed accounts. The research showed that over half (53 per cent) of advisers are using managed accounts; a significant increase from 16 per cent a decade ago. Around 60 per cent of advisers are now also recommending managed accounts to their clients, up from 44 per cent last year and 33 per cent pre-COVID (2019).

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

HESTA and Mercy Super reveal plans to merge

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

InvestorDaily

HESTA and Mercy Super have signed a letter of intent to merge via a successor fund transfer. On Tuesday, 14 June, the super funds revealed the news, with the merger to see Mercy’s 13,000 members transferred to HESTA and combined funds under management (FUM) of almost $70 blilion. “I’d like to acknowledge the excellent service Mercy Super provides its members and the strong alignment we share through our focus on delivering better retirement outcomes for members and our dedication to serving the health sector,” HESTA CEO Debby Blakey said.

“Mercy Super has built an incredible legacy since its creation in 1962. We’re thrilled at the prospect that their members could be part of a merged fund that shares this long-term focus and commitment over many years to delivering strong, sustainable investment performance. “This merger is the start of a wonderful new chapter of our growth that we believe will benefit members and continue to position HESTA as the fund of choice for those wanting their super to have impact.”

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

Hamish Douglass appointed Magellan consultant

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

InvestorDaily

Magellan confirmed on Thursday that Hamish Douglass will resume working with the business in a new consultancy role, following his sudden departure in February over health reasons. Although back at Magellan, Mr Douglass will cease to be a permanent member of the firm’s staff on 15 June before commencing the consultancy role on 1 October, a role that, the firm said, will enable him to deliver his expertise to investors free from board, management and portfolio responsibilities. “The board and Hamish have carefully considered the right balance for Hamish, for Magellan and most importantly for our clients as they navigate global markets. Hamish’s appointment in this new role is another important step as Magellan moves forward as a focused global funds manager,” said Magellan chairman, Hamish McLennan.

The firm also advised that the appointment of David George as chief officer and managing director has been brought forward to 19 July from 8 August 2022. “The board has received very positive feedback from clients and investment professionals globally following the announcement on 11 May 2022 of the appointment of David George as chief executive officer and managing director of Magellan,” Mr McLennan said. Earlier this week, Magellan reported a substantial decrease in funds under management (FUM), following a slump in global equities.

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

Two super funds tipped to reach $1tn by 2040

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

InvestorDaily

KPMG has released the findings from a new review. At least two Australian super funds could have over $1 trillion in assets by 2040, according to KPMG. In its annual Super Insights review of the local sector, the firm has tipped AustralianSuper and Australian Retirement Trust (ART) – which have both quintupled in size from $200 billion since 2021 – as the two funds to first reach the trillion mark.

According to KPMG’s research, which used the latest data available from APRA and the ATO, the total value of funds grew from $2.4 trillion to $2.8 trillion from the 12 months to 30 June 2021. However, a reported 5 per cent decrease came in member numbers (down to 20.8 from 22 million) which has been attributed to the first stage closure of eligible rollover funds and the impact of the superannuation early release payments. Despite this, contribution levels increased by 13 per cent from members and 8 per cent from employers, with retail super funds having the biggest impact (44 per cent) followed by industry funds (19 per cent).

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

Perpetual adds global share fund to active ETF lineup

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

ifa

Superannuation industry ready to back Federal Government’s green energy plans

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

Investment Magazine

The superannuation industry is ready with billions of dollars in “patient capital” to back the Federal Government’s green energy plans, according to Wayne Swan, chair of the $65 billion construction industry super fund, Cbus. In an interview with Investment Magazine, ALP president and former Federal Treasurer said the sector could also look at investing in areas such as critical minerals if the policies were right. “When you look at the scale of the transition we’re going to have to make from fossil fuels to renewables in the electricity sector, and more generally, super is going to play a big role in investing in those areas,” he said.

He said many superannuation funds were already investors in green energy. “But if we get much clearer market signals out of the government and we can get new structures, the super funds will be active participants,” he said. “Many of us are already active in particular projects, but if it was to become more systematic and there was more of a government framework, then we would be interested.”

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

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