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New Pinnacle affiliate to manage Blue Sky LIC

KANIKA SOOD  |  THURSDAY, 18 OCT 2018
... offer. The new Pinnacle boutique Pinnacle's new private boutique Alterum will take over as BAF's manager starting next year, subject to approval from the LIC's shareholders. Alterum will be led by BAF executive chair Andrew Champion. The ...

Young advisers key to business sustainability

JAMIE WILLIAMSON  |  WEDNESDAY, 17 OCT 2018
... younger clients. "Younger advisers have experiences and insights that can be of great value to firms as they look to engage the next generation of clients," Macquarie Wealth Management division director Sherise Mercer said. "They have a good understanding ...

Firetrail calls off $305m IPO

KANIKA SOOD  |  WEDNESDAY, 17 OCT 2018
... doesn't make the boutique loss-making." Firetrail has said it had the cashflow to cover to fund the IPO costs. What's next? Hodgens expects some of the investor money raised during the LIC to flow back to the unit trust of the absolute return ...

Colonial First State to cut tobacco by 2020

KANIKA SOOD  |  WEDNESDAY, 17 OCT 2018
... signed the pledge, promising to divest tobacco-related investments last year, it was expecting the process to stretch into next year. "CFS is confident that it will meet the 2020 deadline. We are mandating that our fund managers sell out of their tobacco ...

Chief economist update: China on the down low

BENJAMIN ONG  |  WEDNESDAY, 17 OCT 2018
... deceleration. According to the Caixin report: "Chinese companies are generally optimistic that output will increase over the next year. However, the degree of positive sentiment fell to a nine-month low at manufacturers amid concerns of ongoing global ...

Mercer wins two super fund mandates

HARRISON WORLEY  |  TUESDAY, 16 OCT 2018
... the fund's administrator. The firm said its services would be retained when the fund merges with fellow industry fund QIEC next year, forming a $10.5 billion industry fund with about 125,000 members. The firm said it retained the fund's business after ...

Liquidnet appoints Australia head

KANIKA SOOD  |  TUESDAY, 16 OCT 2018
... the former head left for Chi-x. Kate Weidenhofer will now be responsible for Liquidnet's strategic direction and its next phase of growth, the company said. She replaces Murrough O'Brien who in July picked up the job of Chi-x's director for ...

Chief economist update: When QE turns to QT

BENJAMIN ONG  |  TUESDAY, 16 OCT 2018
... But some of them have eased. Financial markets have already trimmed their Fed rate hike expectations to two (from three) next year, bond yields have already retreated from 3.23% to 3.16%, and the recent drop on Wall Street has eased equity market overvaluation. ...

ASIC to review FDS compliance

HARRISON WORLEY  |  TUESDAY, 16 OCT 2018
... confirmed it would test the compliance of the obligations among small and large licensees, with updates due to be provided next year. The corporate regulator added is was currently investigating substantial breaches of FDS and renewal notice obligations ...

Charity comparator to launch premium service

KANIKA SOOD  |  MONDAY, 15 OCT 2018
... of it almost as a managed funds type of review," co-founder Peta Tilse said. The premium version is set to launch by early next year. The company is currently considering a pricing model but says it will eventually have 300-1000 subscribers for the service. ...