News

News

Smart ways to invest in the energy transformation

Posted by Anton Murray Consulting on . Posted in Market Commentary

InvestorDaily

The Federal Government has released its first offshore petroleum exploration permits, ensuring growth in the oil and gas sector at a time when it is seeking to boost its climate change credentials. The government’s divergent approach is symptomatic of a dilemma facing investors in the energy market — which way to play the energy crisis. On the one hand, Russia’s invasion of Ukraine, along with the global post-COVID-19 economic recovery have sent energy prices — especially for gas and coal — soaring and will likely keep them high for some time.

This can be expected to ensure bumper profits for Australia’s two main ASX-listed oil and gas companies — Woodside Energy Group (ASX:WDS) and Santos (ASX:STO) — making them an attractive prospect for traders and investors. Increased profits in the oil and gas sector are due to the rise in global oil prices, creating windfall profits that could never have been generated by increased operational efficiency. On the other hand, as concerns about climate change drive the world toward a lower-carbon future, there are legitimate doubts about the future demand for oil and gas.

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

Perpetual rejects improved takeover bid

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The wealth management company has brushed off a second “unsolicited” takeover proposal in just a week. Perpetual Limited has notified shareholders of a second “unsolicited” conditional, non-binding indicative proposal from a consortium comprising of BPEA Private Equity Fund VIII and Regal Partners Limited. The consortium improved their initial bid of $30.00 per share (announced on 3 November), placing a follow-up offer to purchase 100 per cent of the shares on issue for $33.00 cash per share.

But Perpetual told shareholders the offer “continues to materially undervalue the company”. “Perpetual’s board has considered a number of factors, including value, high conditionality, transaction and execution risks, in determining that the consortium’s revised Indicative Proposal is not in the best interests of its shareholders and has therefore rejected the offer,” the company noted in a statement on the ASX. The firm has again advised shareholders to “take no action”, adding it would inform the market of any subsequent developments.

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

Magellan plots comeback, says it will regain global standing in 5 years

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

InvestorDaily

Magellan plans to regain its global standing in five years’ time through improved, research-led performance. Speaking at the firm’s annual general meeting on Thursday, chief executive David George said Magellan will be a fund manager of global scale once more with over $100 billion of funds under management after five years. This will be quite a feat for the embattled firm given its FUM more than halved to $50.9 billion as of the end of September from $113.3 billion at the same time last year.

But Mr George, who was appointed to the role of chief investment officer on Monday, believes in the firm’s capabilities to recapture its once glorified status. “This will not be growth for the sake of growth,” Mr George said. “It will be considered growth, driven by creating long-term shareholder value.”

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

Fidelity hires institutional business director

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The new director will be tasked with helping manage institutional client and consultant relationships at the firm while growing its institutional business. Fidelity International has announced the appointment of Satoko Asai to the Melbourne-based role of director, institutional business. Ms Asai has over 17 years of experience in financial services and joins from Uniting Ethical Investors, where she worked across both the wholesale and institutional distribution channels.

Previously, she worked at the Principles for Responsible Investment in Melbourne and spent five years at Schroders in the institutional team based in Tokyo. In her new role, Fidelity said that Ms Asai will help manage institutional client and consultant relationships and grow its institutional business. She will also work closely with the firm’s investment and sustainable investing teams to deliver sustainable solutions to institutional investors, and will report to the head of Fidelity’s institutional business, Tim Connolly.

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

‘Significant milestone’ as Insignia completes separation of P&I business from ANZ

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

InvestorDaily

The first separation of a superannuation business from a big four bank is complete. Insignia Financial has now successfully completed the separation of the pension and investments (P&I) business from ANZ following a multi-year program of work. The firm said that the completion is a significant milestone in its separation and simplification programs, while also representing an industry milestone as the first time an organisation has completed the separation of a superannuation business from one of the big four banks.

“This is a momentous achievement for our organisation and the industry as major banks exit from wealth management to simplify their businesses,” said Insignia chief transformation officer, Chris Weldon. “We’re thrilled to have successfully completed the P&I cutover and separation, and to have done so within our planned timelines.” According to Insignia, 1,257 employees transitioned from ANZ with 638 commercial licence arrangements separated from ANZ and 589 applications separated or migrated.

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

Sustainable active ETF series launched by abrdn

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

InvestorDaily

Global asset manager abrdn has announced it will introduce a series of sustainable actively managed ETFs beginning with the abrdn Sustainable Asian Opportunities Active ETF. The new fund, which will be available on the ASX under the ticker code ASAO, has been designed by abrdn to provide investors with high capital growth over the medium to long term by seeking exposure to Asian markets excluding Japan. It invests primarily in a portfolio of around 35 to 70 quality-listed companies that have the potential for capital growth and increased earning potential.

According to abrdn, the new ETF series forms part of a broader business strategy to increase access to its investment solutions across asset classes, regions and markets. The global asset manager said that it had chosen to kick off the series with ASAO in reflection of its 30 years of experience in managing Asia-Pacific equities, the centrality of ESG to its investment approaches and the opportunities it sees for investors in the Asian region. “Our research teams have identified several structural themes which we believe will support growth in Asian markets in years to come, and the new Active ETF will give access to these,” said abrdn managing director for Australia, Brett Jollie.

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

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