Under-pressure Franklin Templeton affiliate, Western Asset Management (WAMCO), has clocked-up about US$120 billion of net outflows since fraud allegations emerged at the fixed income firm last August. In its December quarter results released last week, parent company, Franklin Resources, said WAMCO would likely see a further US$17 billion exit the manager in January following US$68… [Read More…]
Multi-managers hold the line on active, diversification in mag 7 world
“In the thrilling world of craps, the number seven holds a peculiar position—it can be your best friend or your worst enemy, depending on how the game unfolds,” warns the gambling/tourism website Comped Travel. Betting on seven has also proven the winning trade for investors over the last few years as a handful of ‘magnificent’… [Read More…]
On black swan watch: US manager eyes outlier risks for 2025
When making predictions for the year ahead, it’s important to consider not just the upside and downside scenarios, but the outside possibilities that could throw everything into disarray. To that end, New York Life Investments (NYLI) has taken upon itself the difficult, near impossible task of trying to spot the high-impact, unpredictable events that could… [Read More…]
ASIC flags super private probe
Australian superannuation funds will face closer scrutiny of their private asset holdings this year in a first-of-its-kind probe, a senior regulator told an industry gathering last week. Simone Constant, ASIC commissioner, said the regulator was “conducting surveillances of the financial reporting and auditing of targeted super funds, with a particular focus on expenses and valuations”…. [Read More…]
Norwegian giant pension fund models fall of sky-high returns
The world’s largest sovereign wealth fund just made its largest return ever. But the probability of extreme market events has “arguably risen”, and it’s carrying out stress tests for a more uncertain future. Norway’s Government Pension Fund Global made around 13 per cent over 2024 (2,511 billion kroner/A$357,460,938) – a “very strong year”, and in… [Read More…]
Streamline Your Investment Advice with OMNIMax’s New Investment Solution
OMNIMax has launched its latest workflow solution tailored for financial advisers: Investment Adviser Tool. Designed to enhance efficiency and improve client service, the solution incorporates insights from investment advisers to streamline essential processes. About Investment Adviser Tool Investment Adviser Tool is a cloud-based solution that is accessible from anywhere, anytime with data securely encrypted… [Read More…]
Retail funds close on $210bn; Milford swings, ANZ slides
NZ retail funds under management surged through the $200 billion threshold in the September quarter, according to new Plan for Life (PFL) figures, as market share trends continued on pace. The Australian researcher found average FUM-growth of almost 6 per cent during the quarter for the NZ retail fund sector, driving the total to more… [Read More…]
MJW cautions on TAA as markets scream extremes
Melville Jessup Weaver (MJW) principal, Ben Trollip, has warned against the temptations of market timing despite historically high valuations across almost all asset classes, positive correlations and suppressed volatility. In the December quarter MJW investment survey published last week, Trollip says most investors should ignore the lure of tactical asset allocation (TAA) even amid an… [Read More…]
Lifetime names ex-TE admin head as first COO; Harbour co-chief to join Christchurch council investment board; biggest Australian financial planning group hires CIO
Lifetime Retirement Income has hired former Trustees Executors (TE) head of fund administration, Geoff Cheesewright, as chief operating officer. Ralph Stewart, Lifetime founder, said the COO role was established following a growth spurt at the group that now manages about $1.3 billion via several product lines. Cheesewright was a long-time TE senior manager, making the… [Read More…]
Apex picks up Iress super business
The ASX-listed financial services software firm, Iress, has offloaded another piece of the furniture after selling its Australian superannuation unit to global administration roll-up giant, Apex Group, for a maximum A$60 million. In a deal worth A$40 million in cash plus up to A$20 million continent on meeting future revenue targets over the following 12… [Read More…]