News

News

AMP appoints ‘respected business leader’ to board

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

AMP has announced a new addition to its board. The company confirmed that Michael Hirst will join the board as an independent non-executive director starting from 1 July. Mr Hirst has over 40 years’ experience in board and senior executive leadership roles, including serving as the chief executive of Bendigo and Adelaide Bank from 2009-18.

“Mike is a respected business leader who will bring significant breadth of experience and insight to the AMP Board,” AMP chair, Debra Hazelton, said. “As the CEO of Bendigo and Adelaide Bank Mike led and grew the business in a highly challenging and competitive environment with a clear focus on people and clients. “His detailed knowledge of Australia’s retail banking and wealth environment, as well as his broad sector experience as a non-executive director, including innovative fintech start-ups and across Government, will be invaluable.”

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

Growing number of Aussie women investing in crypto

Posted by Anton Murray Consulting on . Posted in Investment Banking News

Money Management

Of 3.3 million Australians who own any form of cryptocurrency, women accounted for 11% in June, a significant jump from 7% in January, according to research by comparison site Finder. Despite the proportion of men investing in cryptocurrencies falling from 29% in January to 23% six months later, the overall number of Australians with cryptocurrency jumped to 17% in June from 12% at the start of the year. In terms of demographics, close to a third of Gen-Z owned crypto (31%), a figure that had more than doubled since January (15%) and, by comparison, the number of millennials who owned cryptocurrency dropped from 33% to 24% over the same period.

“Even though Bitcoin’s value dipped in recent months, Finder’s research shows that crypto adoption in Australia is continuing to grow,” Kate Browne, personal finance expert Finder, said. “It’s great that we’re seeing more women and young people choosing to invest in cryptocurrency. “Historically, the world of cryptocurrency has been dominated by men. With strong long-term growth predictions, a gender gap in cryptocurrency investing could have implications for wealth distribution,” Browne noted.

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

Investors issue warning for governments to ‘get climate policy right’

Posted by Anton Murray Consulting on . Posted in Market Commentary

InvestorDaily

Over 400 investors have banded together to urge all world governments to “get climate policy right”, warning that trillions of dollars in investment will be jeopardised if they drag their feet. Exactly 457 investors managing more than US$41 trillion in assets have released the joint “2021 global investor statement to governments on the climate crisis”, calling for climate-related financial reporting to not only be improved, but also mandatory. “We believe that those who set ambitious targets in line with achieving net-zero emissions, and implement consistent national climate policies in the short-to-medium term, will become increasingly attractive investment destinations,” the statement, developed by the seven founding partners of The Investor Agenda, read.

“Full implementation of the Paris Agreement will create significant investment opportunities in clean technologies, green infrastructure and other assets, products and services needed in this new economy.”

The statement outlines five “priority actions” for governments to undertake prior to the United Nations Climate Conference of the Parties (COP26) this November, including:

  1. Strengthen their nationally determined contributions (NDCs) for 2030 in line with limiting warming to 1.5 degrees Celsius.
  2. Commit to a domestic mid-century, net-zero emissions target and outline a pathway with ambitious interim targets including clear decarbonisation road maps for each carbon-intensive sector.
  3. Implement domestic policies to deliver these targets, incentivise private investments in zero-emissions solutions and ensure ambitious pre-2030 action.
  4. Ensure COVID-19 economic recovery plans support the transition to net-zero emissions and enhance resilience.
  5. Commit to implementing mandatory climate risk disclosure requirements aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

The statement will remain open for more investors to sign until COP26.

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

Australian ETF industry growth hits ‘all-time high’

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

InvestorDaily

The local ETF industry has reached a “fresh all-time high” in growth in May. The growth, which the BetaShares report credits to sharemarket appreciation and robust net inflows, ended last month at a total market cap of $111.7 billion, a growth of 3 per cent month-on-month. The biggest performance in May came from gold miners and gold bullion products including MNRS (10.7 per cent) and BetaShares’ hedged gold bullion ETF (7.6 per cent).

Further to this, the last 12 months saw a 75 per cent increase of $47.7 billion – the highest dollar value increase in that period of time in the industry’s history. Last month also saw a significant spike in international equities products. While exposure has consistently been strong for the year, over $1 billion of the ETF industry’s net flows (75 per cent) came from overseas equities products.

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

US fundie Shawn Johnson named AMP Capital CEO

Posted by Anton Murray Consulting on . Posted in Investment Banking News

AFR

AMP has brought in Boston-based investment manager and former US Navy lieutenant Shawn Johnson to lead AMP Capital ahead of its demerger from AMP and new life as a separately listed public company. Mr Johnson is the former managing director and chairman of the investment committee at $US2.1 trillion funds management giant State Street Global Advisors. He will replace Boe Pahari, who was demoted to head of  infrastructure equity following shareholder and public backlash over his brief appointment as AMP Capital head despite having settled a sexual harassment claim against him in 2017. AMP announced Mr Pahari would be leaving AMP in April.

David Atkin, AMP Capital deputy CEO and former chief of industry super fund Cbus, will leave AMP in late July, having initially joined the troubled company in December last year on an interim basis until June. It is understood Mr Atkin, who has been overseeing the structural separation of AMP Capital’s lucrative unlisted real estate and infrastructure investments business from the rest of AMP, will work closely with Mr Johnson for three or four weeks before leaving the company.

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

Magellan moves on retiree market

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

InvestorDaily

The funds management giant has launched a new offering that it says will solve many of the complications and trade-offs involved in managing money for retiree investors. Magellan’s FuturePay, which launched to the market this week, will “help investors and their advisors to meet the challenges of establishing a regular income from their accumulated savings”, according to the fund manager’s chief executive Brett Cairns. “If you’re looking for predictable income in retirement, it often means accepting a lower income and with limited growth, and you might have to dip into capital to achieve that,” Mr Cairns told attendees at a launch event on Tuesday.

“If you want to invest for growth, your income becomes less predictable – you can hand that problem to an insurance company, but it comes at a higher capital cost and your access to capital is more limited.” Mr Cairns said advisers often got around these problems by using a “bucketing” strategy with a cash buffer they could adjust depending on market movements. “Broadly what happens is an adviser will develop a portfolio of growth assets and a cash account that’s sized in time – people will say I’ve got two or three years’ worth of cash,” he said.

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

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