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Citi to expand local securities team

HARRISON WORLEY  |  MONDAY, 16 MAR 2020
... Royal Bank of Canada which sees clients of RBC transition to the global bank's local securities services arm over the next two years. At the end of the process, Citi anticipates its market share will have grown such that it is one of the leading ...

ClearView restructures pricing as life sector struggles

HARRISON WORLEY  |  FRIDAY, 13 MAR 2020
... has revealed the firm will adjust premium rates ahead of an expected "wave" of changes across the life industry over the next six months. Specifically, the firm has made a series of increases and decreases in the range of 0-10% to base premium rates ...

Coronavirus is an investment opportunity: Fidelity

ALLY SELBY  |  FRIDAY, 13 MAR 2020
... off," he said. "It's going to be bad for earnings and the economy, especially last quarter, this quarter and probably the next quarter. But you shouldn't capitalise that into stock prices." He said investors should look for a deceleration in ...

Major industry events cancelled amid pandemic

ELIZABETH MCARTHUR  |  FRIDAY, 13 MAR 2020
... industry partners is our priority and we believe it is in the best interests of all to not proceed with CMSF in Adelaide next week," AIST chief executive Eva Scheerlinck said. "As a not-for-profit member organisation we do not make this decision lightly ...

Chief economist update: The corona crash of 2020

BENJAMIN ONG  |  FRIDAY, 13 MAR 2020
... banks to lower capital ratios... (Factset). The Bank of Japan (BOJ) is expected to follow its brethren when its Board meets next. Then there's the People's Bank of China and the politburo which had been providing stimulus measures even before ...

ScoMo launches $17b stimulus package

ALLY SELBY, ELIZA BAVIN  |  THURSDAY, 12 MAR 2020
... are protected." The stimulus measures will need to be approved by the federal parliament before they are legislated. The next parliamentary sitting is March 23. Morrison said he is willing to inject more fiscal stimulus into the economy if needed. "It's ...

MLC Asset Management appoints fixed income head

KANIKA SOOD  |  THURSDAY, 12 MAR 2020
... large external client investment portfolios back in 2006," Armitage said. "Ken's transition creates opportunities for the next generation of Antares fixed income team members to assume greater investment and client responsibilities. Mark will continue ...

Advisers too time-poor for cash management

HARRISON WORLEY  |  THURSDAY, 12 MAR 2020
... advice process would stand to benefit, citing the intergenerational transfer of wealth which is set to take place over the next two decades. "Bottom line is this is something really valuable and both clients and advisors are keen for it, but at the moment ...

Fee cuts hack at fund manager margins

KANIKA SOOD  |  WEDNESDAY, 11 MAR 2020
... strategies lowered their fees by 3.5% while active strategies were cut by 2.5% annually. The fee cuts intensified in the next three-year period ending 2018. During this period, fees for both passive and active strategies declined by an average of 5% ...

Active managers: Opportunities abound

ELIZA BAVIN  |  WEDNESDAY, 11 MAR 2020
... valuations, to put more money into companies that are going to be doing well in 2021. "You need to be looking forward to next year, and understanding where you can capitalise on these valuations," he said. "We have been putting more money into gaming ...