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Magellan names Rahmani as new chief, reports NPAT lift

JAMIE WILLIAMSON  |  THURSDAY, 15 FEB 2024
... expenses for the funds management business were also down 18% at $51.3 million, with the group saying this is tracking in line with full-year guidance of up to $102.5 million. They added that performance fees for the half were not meaningful, characterising ...

AMP reports boost in IFA flows, mulls advice unit options

KARREN VERGARA  |  WEDNESDAY, 14 FEB 2024
... week to discuss many of these issues. The master trust business reported an underlying NPAT of $53 million, which was in line with FY 22. "Lower AUM based revenue (down 10.4%) was the result of both the simplification program to consolidate products ...

AIA adds to C-suite lineup

CHLOE WALKER  |  WEDNESDAY, 14 FEB 2024
Susan Turner will become the new chief financial officer of life insurer AIA, while Anna Livingston has been named chief people and culture officer. Turner boasts over 20 years of experience in senior finance leadership roles, most recently serving ...

Barings builds out local team

ELIZABETH FRY  |  MONDAY, 12 FEB 2024
... head of UK, EMEA and Asia Pacific distribution. Baird's appointment comes just as Barings ramps up its regional team in line with its long-term growth strategy. The asset manager is building up institutional, wealth and retail businesses in Australia ...

Rest invests in agriculture fund

RACHEL ALEMBAKIS  |  MONDAY, 12 FEB 2024
... investment is the first impact investment within the $80 billion Rest's alternative asset class and brings Rest closer in line with its target of achieving a 1% allocation to impact investments across its total portfolio by 2026, said Rest head of responsible ...

IPO Capital clients receive payments from Mayfair 101

JAMIE WILLIAMSON  |  FRIDAY, 9 FEB 2024
... private equity investments that it planned to take public. "The resumption of interest payments after nearly four years is in line with our objective of making all clients whole. These clients supported our group's investment activities since inception ...

Fund selectors harbour AI bubble fears, affirm belief in its longevity

ANDREW MCKEAN  |  THURSDAY, 8 FEB 2024
... account for increasingly volatile geopolitical forces and an uncertain macro-economic outlook. "With investors' money on the line, it's no surprise that fund selectors are turning more towards active management to help navigate these challenging investment ...

Novigi completes QMV Solutions deal

JAMIE WILLIAMSON  |  WEDNESDAY, 7 FEB 2024
Novigi has formally acquired QMV Solutions, including the latter's Investigate DQ software, for an undisclosed figure. Novigi delivers data and technology services to financial services companies including Mercer, Link and Vanguard Super. It said QMV ...

RBA anticipated to delay interest rate cuts

ANDREW MCKEAN  |  TUESDAY, 6 FEB 2024
... it will likely act after the Federal Reserve (Fed) initiates its own cuts, which are not expected to start before May, in line with recent indications from Fed chair Jerome Powell against a March interest rate cut. Regarding today's RBA monetary ...

Bravura hires chief people officer from AMP

CHLOE WALKER  |  MONDAY, 5 FEB 2024
... organisation," Russell said. In December, Bravura promoted Paul Dunn and Chris Spencer to regional chief executive roles in line with its new global strategy. Dunn, who spent five years at Bravura, stepped into the role of APAC chief executive. Meanwhile ...