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Watermark closes IPO for market neutral LIC

ALEX BURKE  |  TUESDAY, 13 DEC 2016
... global market neutral listed investment company. The Watermark Global Leaders Fund Limited raised more than $90 million, close to the initial goal of $110 million, from investors at an issue price of $1.10 per share. The fund uses long and short positions ...

False information undermining ASIC integrity

KERRIE SYDEE  |  THURSDAY, 8 DEC 2016
... the expiry (in June 2016) of the transition period for accountants to apply for a limited licence," the report justified. Close to 40% of applicants for limited Australian financial services licences left their applications to the last month of the 36-month ...

Tasplan launches lifecycle default super

ALEX BURKE  |  THURSDAY, 8 DEC 2016
... younger to a safer approach as they get older. "This way, members are better insulated against big market shifts like the GFC, close to retirement, when they can least afford it." Tasplan's lifecycle default offering bucks a trend presented in the latest ...

Link executive joins Moneysoft

JAMIE WILLIAMSON  |  THURSDAY, 8 DEC 2016
... average, the second most valuable asset behind the family home, yet few Australians give it the attention it deserves until close to retirement. Moneysoft's suite of budgeting and cash flow tools give super funds and financial planners the opportunity ...

Small caps and corporate activity drive LIC performance

KERRIE SYDEE  |  WEDNESDAY, 7 DEC 2016
... Australian large cap market sector should look to Milton Corporation and Argo Investments, both offer good value trading close to pre-tax NTA at 31 October and are below their three year average premium. IIR analyst Peter Rae said: "October was an active ...

Management changes at Charter Hall

KERRIE SYDEE  |  WEDNESDAY, 7 DEC 2016
Charter Hall Group announced two management changes including the departure of a key employee. After five years with the Group chief financial officer Paul Altschwager is leaving to pursue other opportunities in 2017. The group also revealed that the ...

NAB exec joins Metlife

JAMIE WILLIAMSON  |  TUESDAY, 6 DEC 2016
An executive at NAB Asset Management has taken on a new role with MetLife. Allyson Carlile, previously head of people for NAB AM, has been appointed as head of people and culture for MetLife's Australian business. In addition to her role at NAB, Carlile ...

Pillar sold to Mercer

DARREN SNYDER  |  FRIDAY, 2 DEC 2016
Mercer is upping its stakes in superannuation administration by acquiring Pillar from the NSW Government for $35 million. The deal establishes Mercer as one of the largest outsourced superannuation providers in Australia, increasing funds under administration ...

Asset managers must consider multi-asset

KERRIE SYDEE  |  FRIDAY, 2 DEC 2016
... with brand recognition ranked third. "Do not underestimate the importance of ongoing dialogue with IFAs and of building close relationships with both IFAs and the players within the outsourcing space, such as risk-profiling companies and rating agencies," ...

New chair at LGIAsuper

JAMIE WILLIAMSON  |  FRIDAY, 2 DEC 2016
Queensland superannuation fund LGIAsuper has appointed a new chair. After three years as an independent director for the fund, John Smith has stepped into the top role. He has also previously overseen LGIAsuper's audit and risk management committee ...