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Mobile Most Popular Channel for Banking

Posted by Anton Murray Consulting on . Posted in News


Mobile banking was found to be the most rapidly growing banking channel in new research, with around double the number of Australians using it over a four-week period in comparison to those who visit branches. Roy Morgan said around 44.7 per cent of Australians use mobile banking in an average four weeks, in contrast to only 22.9 per cent who use branches. The researcher added around two-thirds (65 per cent) of the population now either use mobile or internet banking over a month, Roy Morgan said, showing an upward trend.

According to Roy Morgan, satisfaction with mobile banking users was also the highest of any channel, coming to 89.3 per cent in January, compared to 85.2 per cent for branches, personal bankers and advisers achieving 81.2 per cent and 77.2 per cent for phone banking. The market research firm’s Service Satisfaction Report-Consumer Banking Market January 2019 report also said mobile banking’s higher satisfaction levels has the potential to positively impact overall bank satisfaction. All of the big four banks’ customers had higher satisfaction with mobile banking than those using branches on average.

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Macquarie assets poised to grow

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News


Macquarie Group is well placed for growth in its wealth management, according to Morgan Stanley, which expects the bank’s gross inflows in its alternative assets sector to more than double in 2H19. The report has also forecasted Macquarie’s Investment management flows to improve from flat in FY18-19 to around 3.5 per cent in FY20-21, with stronger asset management and commodities revenue to drive 2 per cent of its earnings per share upgrades. Morgan Stanley has upgraded gross inflows for the alternative assets business Macquarie Infrastructure and Real Assets (MIRA) for the second half, now expecting around $20 billion instead of its prior $8.5 billion, citing reasons including the firm gaining external management of the $2.5 billion The Infrastructure Fund (TIF) in Australia.

Alternative allocations will rise from around 5 per cent currently to 6 per cent by 2023, the research said, with assets under management (AUM) to grow from $8.4 trillion to $14 trillion. Morgan Stanley said MIRA will be one of the players best positioned to tap into the global sector’s growth. The analysis expects the company to gain around 15 per cent growth for FY19, in line with its guidance.

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More women investing online but gender gap persists

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


Despite the number of women investing online doubling over the last five years, they still only represent a fifth of Australian online investors, according to a study. Research from Investment Trends has shown female online investors have been on the up, going from 76,000 in 2013 to 150,000 last year. The data also shows ESG factors tend to be prioritised more by women in comparison to men.

When it comes to their investment selection process, 29 per cent of women said it is ‘very important’ that their portfolio contains companies that have good and ethical ESG standards, compared to 19 per cent for male investors. The research comes as Fidelity International, Australia has published a report that has found women are investing less. Suzie Toohey, global head of Client Service and Sales at Investment Trends said that while the rise shows that more women are building their wealth and moving towards an independently secured financial future, more still needs to be done.

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Bennelong Opens New York Office

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


Bennelong Funds Management has expanded into the US with plans to distribute a number of its existing investment funds to institutional investors through a strategy similar to that of Australia and the UK. The new subsidiary, BennBridge US, has appointed Barbara Safranek as president, who will head up the company’s newly established office in New York. In her new role, Ms Safranek will build and develop strategic relationships within the industry and oversee institutional distribution.

More Investors Choosing with Conscience

Posted by Anton Murray Consulting on . Posted in Funds Management News, Investment Banking News, Market Commentary, News


Nearly half of Australian investors are influenced by environmental, social and governance factors when choosing funds or companies to invest in at 43 per cent, a study has found. The Legg Mason Global Investment Survey, involving 16,810 investors from 17 markets, including 1,000 Australians, showed 88 per cent of investors believe that fund managers should actively ‘police’ companies they invest in to ensure they act responsibly. Around 55 per cent of respondents said they avoid businesses with controversial track records.

Almost half of respondents at 45 per cent said they will increase ESG investments over the next five years. Millennials were found to find responsible investing more important, with 70 per cent of the demographic investing in sustainable funds, as opposed to 21 per cent of Baby Boomers. The study found Millennials at 28 per cent were equally as likely as Baby Boomers, at 24 per cent to feel fund managers should consider a company’s effect on their local community.

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