Wealth Management News

InvestorDaily The wealth management companies have struck a new deal, which includes a reduction in the cash component and an increase in the scrip consideration. Perpetual Limited has agreed to revise the cash and scrip consideration mix of its offer to purchase 100 per cent of shares in Pendal Group. Under the revised terms, Pendal […]

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 […]

InvestorDaily Morningstar has now acquired Praemium’s operations in the UK, Jersey, Hong Kong and Dubai. Praemium has announced the £35 million ($61.7 million) sale of its international business to Morningstar has now been completed. Originally announced in December, the divestment sees Morningstar acquiring Praemium’s operations in the United Kingdom, Jersey, Hong Kong and Dubai to […]

InvestorDaily Perpetual’s net profit after tax surged 113 per cent on the prior corresponding period, while its underlying profit after tax added 54 per cent to $79.1 million. In an ASX listing on Thursday, Perpetual confirmed operating revenue of $384.9 million, with growth of 37 per cent primarily driven by the full contribution of Barrow […]

InvestorDaily In another step towards its demerger from AMP Limited, AMP Capital has confirmed a new brand name. The new business will be called Collimate Capital when it lists on the ASX in the second half of 2022. The wealth giant said Collimate is “a metaphor for alignment, clarity and precision, which speaks to our […]

ifa Australia’s wealth and asset managers have proved to be largely resilient throughout the COVID-19 pandemic; however, it has certainly accelerated the relentless digitisation of all aspects of their business, said Rita Da Silva, EY Oceania wealth and asset management leader. “In 2022, as front and back-office functions evolve toward more automated process models to […]