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Showing 1451 - 1460 of 3464 results for "Stake"

Profits down as Perpetual looks to future

HARRISON WORLEY  |  THURSDAY, 20 FEB 2020
Perpetual posted a smaller profit in the first half of the financial year,impacted by net outflows and forcing a greater focus on "strategic growth initiatives". The wealth manager recorded a $51.6 million net profit after tax in the first half, a result ...

Focus to acquire stake in MEDIQ

KANIKA SOOD  |  WEDNESDAY, 19 FEB 2020
Following its acquisition of a stake in Escala Partners, New York-based Focus Financial Partners is set to buy a slice of Melbourne-based MEDIQ Financial Services. Focus has entered a definitive agreement to partner with Ravi Agarwal's MEDIQ Financial ...

Franklin Templeton to acquire Legg Mason

JAMIE WILLIAMSON  |  WEDNESDAY, 19 FEB 2020
... collectively owns about four million shares or 4.5% of the outstanding stock of Legg Mason. Last year, before taking its stake in May, Trian was reported to have held discussions with Legg Mason, encouraging it to cut costs. Trian's chief executive ...

IOOF profits fall 39%, advice margins drop

KANIKA SOOD  |  TUESDAY, 18 FEB 2020
... legislative changes and competition, IOOF said. Governance costs in the period rose $5.2 million. During the period, IOOF sold its stake in Ord Minett as well as in Perennial Value Management. Meanwhile, it completed the acquisition of ANZ's pensions ...

JP Morgan appoints two Aussie leads

ALLY SELBY  |  TUESDAY, 18 FEB 2020
... also raised equity for Macquarie Group and real estate investment trust DEXUS and helped sell the Paul Ramsay Foundation's stake in Ramsay Health Care. Ranson had led JP Morgan as its vice chairman for the past five years before landing the joint head ...

NAB further delays offloading MLC

ELIZABETH MCARTHUR  |  THURSDAY, 13 FEB 2020
National Australia Bank in its quarterly update flagged another delay to the separation of MLC Wealth. NAB said that due to a challenging business environment, the separation of MLC Wealth may be delayed beyond financial year 2020. "Work on operational ...

Challenger boutique winds up

KANIKA SOOD  |  TUESDAY, 11 FEB 2020
An alternatives boutique that Challenger's multi-boutique business Fidante partnered with in February last year has wound up. London-based FME Asset Management (Financial Markets Engineering) ran a derivatives-based strategy taking positions in ...

More engagement with custodians needed: Report

ELIZA BAVIN  |  TUESDAY, 11 FEB 2020
The Australian Custodial Services Association (ACSA) is urging institutional investors to forge closer relationships with custodians to ensure better outcomes are achieved. ACSA released a report describing the evolving role custodians play in Australia's ...

Separate advice and product: AIOFP

ELIZABETH MCARTHUR  |  FRIDAY, 7 FEB 2020
The Association of Independently Owned Financial Professionals wants product failures and financial losses from those failures factored into the Compensation Scheme of Last Resort. The AIOFP said it agrees with the "general thrust" of the Compensation ...

OneVue takes control of Sargon stake in Sequoia

KANIKA SOOD  |  THURSDAY, 6 FEB 2020
OneVue Holdings has taken control of a Sargon subsidiary's 19% stake in ASX-listed wealth and advice firm Sequoia Financial Group, as its looks to recoup $31 million. The Sequoia stake is worth about $4.6 million at Tuesday's closing price of 20 cents. ...