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Watermark appoints two sector heads

ALEX BURKE  |  WEDNESDAY, 29 MAR 2017
Watermark Funds Management is welcoming two experienced sector heads to its team. Ian Carmichael is coming over to Watermark from Platinum Asset Management in April as head of the consumer sector. At Platinum, he was team leader and investment analyst ...

CBA CFO to retire, successor named

JAMIE WILLIAMSON  |  FRIDAY, 24 MAR 2017
Commonwealth Bank group chief financial officer David Craig will step down from the role at the close of the financial year, with the bank naming his successor. In announcing Craig's retirement, CBA chief executive Ian Narev described him as a linchpin ...

Auscap added to Macquarie Wrap

KARREN VERGARA  |  FRIDAY, 24 MAR 2017
... its returns in FY16 from ASX100 companies. The average net exposure to the top 12 ASX stocks throughout its life has been close to zero. Auscap principal and portfolio manager Matthew Parker said: "We see ourselves as complementary to most Australian ...

Collective power: What's next for profit-to-member funds?

EMMA RAPAPORT  |  FRIDAY, 24 MAR 2017
Industry super thought leaders have urged the sector to harness the power of the collective and collaborate more closely on problem solving to ensure longevity and continued member engagement. Speaking at the Mavis Robertson Plenary at the 2017 Conference ...

Azimut partners with Colonial, launches funds

KARREN VERGARA  |  THURSDAY, 23 MAR 2017
AZ Sestante, a subsidiary of Italian wealth management firm Azimut Holdings, recently entered the Australian market by launching three new funds on the Colonial First State platform. The partnership produced three diversified multi-manager funds that ...

CSC renews $40bn custody mandate

ALEX BURKE  |  WEDNESDAY, 22 MAR 2017
The Commonwealth Superannuation Corporation has renewed custody arrangements for its $40 billion in funds under management. Northern Trust (NTC) has overseen custody and investment administration for the government employee and Australian Defence Force ...

PIMCO unitholders approve $10bn RE transaction

ALEX BURKE  |  MONDAY, 20 MAR 2017
PIMCO unitholders have voted overwhelmingly in favour of the manager internalising responsible entity services for over $10 billion in funds under management, representing one of the largest RE transitions in Australian history. Just five months ago ...

US corporate debt mandate signed to Aussie manager

DARREN SNYDER  |  MONDAY, 20 MAR 2017
... analyst for the Global Income Fund in the next month. Since inception in 2009, the Global Income Fund has achieved a return close to 10% annualised for the year to February 2017. It has typically invested in the Eurozone, Americas, Japan and Australia. ...

ATO payroll system tracking unpaid super

KARREN VERGARA  |  THURSDAY, 16 MAR 2017
The Australian Taxation Office is tackling the growing $3.6 billion unpaid super problem with its Single Touch Payroll (STP) system that closely monitors employers' inability to pay superannuation entitlements, with the first phase due to roll out on ...

One small rise in rates, one giant step towards normalisation

BENJAMIN ONG  |  THURSDAY, 16 MAR 2017
Don't you just love it when things turn out as expected? Wall Street surely did. US equities jumped -- Dow up 0.5%, S&P up 0.84%, Nasdaq up 0.7%, Russell 2000 up 1.5% -- the VIX index dropped by 5.5% and instead of climbing, the US dollar index fell ...