Editor's Choice
Antipodes acquires boutique manager
Antipodes has acquired a fund manager specialising in Asian equity and fixed income strategies that has about $170 million in assets under management.
The funds delivering up to 30% returns: Mercer
Mercer released its investment performance charts, revealing the top 10 funds delivering massive returns.
ClearBridge launches first local global equity fund
ClearBridge Investments has launched its first global equity strategy in Australia as it looks to introduce more in the future.
Plenary Group sells 49% stake to ADQ
Abu Dhabi sovereign wealth fund ADQ has acquired a 49% stake in Plenary Group as it marks its first investment in an Australian company.
Further Reading
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Sponsored by | Why it could be a good time to be a growth contrarianGrowth-style companies are in vogue, but you may need to think outside the box to ensure you don't overpay. |
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Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
As an ex-employer nominated Board member of an industry fund, I was always impressed by the employee representatives on the Board (oh those terrible union officials) and their motives with regard to the Fund..
They considered the establishment of a retirement scheme for their working class members one of their greatest achievements and industrial issues never, by my observation, conflicted with their objective of maximising the retirement benefits for their members. Their philosophical problem was that they were making their socialist members capitalists by default. They were however always interested in an employer that was behind or defaulted in his payments, but so they should be.
Anyway, the proof will be in the future returns to members as industry funds beat the retail funds hands down currently, so we will see what happens. I think it must be all to do with Mr Abbott's inability to deal with trade unions and his determination to destroy the good work that they do in this area and also he wants to give the retail funds (and their profit margin) a leg up at every opportunity.
Has anyone ever heard of any fraud or misappropriation or any negative in the administration of an Australian industry fund that has made this change necessary?