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Perennial to close three responsible investment funds
|Perennial Partners will shutter three responsible investment funds that manage $140 million in combined assets, as they fall short of reaching scale and achieving their investment objectives.
LGT Wealth Management hires five advisers from rival
|LGT Wealth Management Australia has expanded its Syndey private client advisers' team with five senior hires from UBS Wealth Management.
MSC Group awarded mandates for natural resources strategy
|MSC Group will provide administration capability and trusteeship for a natural resources strategy focusing on the energy sector and select commodities.
Norges Bank slashes exposure to US government bonds
|Norges Bank Investment Management (NBIM), the investment manager of Norway's sovereign wealth fund, the Government Pension Fund Global, has proposed a major restructuring of the fund's exposure on US government bonds.
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Featured Profile
Sarah Shaw
GLOBAL PORTFOLIO MANAGER
4D INFRASTRUCTURE
4D INFRASTRUCTURE
It wasn't confidence that prompted Sarah Shaw to walk away from established investment houses and co-found 4D Infrastructure in 2015. It was something she believes is far more important: courage. By Vinny Vucago.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
At stake is really the sabotaging of the excellent work of Real Financial Advisers who always have the interests of clients at heart (otherwise they will walk away) versus the interests of those Unionists and ex Labor Politicians (more than 300 of them) who get income as Trustees/Directors of Industry Funds. Industry Funds give NO ADVICE, do not check clients' Risk Profiles, hold franking credits for general admin expenses rather than directing them to the clients who took a risk earning the credits, take on risky investments by way of direct property and alternatives, provide poor returns compared with those which we give our clients, and (eg MTAA) misclassify asset allocations as "balanced". Industry Funds ARE NOT IN THE BEST INTERESTS OF INVESTORS. FOFA needs to be abandoned altogether! Industry funds need to be shut down! Keep lobbying COMRADES, I mean, COLLEAGUES!
well said