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Investment

AUI raises redemptions for Mortgage Income

COMPANY RELEASE  |  TUESDAY, 27 OCT 2009
Effective this week, investors in the Mortgage Income Trust (MIT) of Australian Unity Investments (AUI) withdraw up to two percent of their total investment in the Trust each month or $2,000 - up from the previous cap of one per cent.

ING to divest insurance and investments

MICHELLE BALTAZAR  |  TUESDAY, 27 OCT 2009
Dutch banking and insurance giant ING plans to dispose its insurance and investment businesses over the next four years to shore up its balance sheet and repay its government debt.

Macquarie buys Canadian dealer

RUTH LIEW  |  TUESDAY, 27 OCT 2009
Macquarie Group has bought Canadian investment dealer Blackmont Capital for $95 million ($C93.3 million) as the finance giant's global buying spree continues, and will rename the firm Macquarie Private Wealth.

Oasis let back in the good books

MICHAEL HOBBS  |  TUESDAY, 27 OCT 2009
Cape Town-based Oasis Asset Management, unrelated to a local company by the same name, has been re-instated as a United Nations Principles for Responsible Investment (UN PRI) signatory.

Frontier takes tough stance against asset-based fees

MICHELLE BALTAZAR  |  MONDAY, 26 OCT 2009
Asset consultant Frontier, which has $91 billion in funds under advice, has sent a letter last week to all the external fund managers of its super fund clients to consider charging flat dollar fees, instead of asset-based fees, on their investment mandates.

CAAM and Soc Gen reveal Amundi

RUTH LIEW  |  MONDAY, 26 OCT 2009
Crédit Agricole and Société Générale have renamed their new asset management business Amundi, a firm that ranks in the top 10 largest wealth managers in the world - with Australia's Crédit Agricole arm poised to benefit from the boost in muscle.

Four pillars of a good hedge fund: Ashton

RUTH LIEW  |  MONDAY, 26 OCT 2009
Nick Raphaely, executive director of Ashton Advisors, which has links to the highly successful Paulson funds in the US, said Paulson's four pillars of running a solid hedge fund stems from a transparent model that focuses on independence.

Souls funds 'On Hold' after CIO resigned

COMPANY RELEASE  |  FRIDAY, 23 OCT 2009
Standard & Poor's Fund Services has placed all three Australian equity funds managed by Souls Funds Management 'On-Hold' following the departure of the group's chief investment officer and small-cap portfolio manager, Frank Villante.

IML staff strategy gets nod from ratings firm

MICHAEL HOBBS  |  FRIDAY, 23 OCT 2009
Investors Mutual Limited's (IML) revamped staff retention strategy has paid off for the fund manager, resulting in a stable investment team and an upgrade from a ratings firm.

Galleon sinks $4bn

MICHELLE BALTAZAR  |  THURSDAY, 22 OCT 2009
Galleon Group, one of the largest hedge funds in the US with $4 billion in assets shuts down after US watchdog SEC investigates the group's founder, Raj Rajaratnam, for insider trading.