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Investment

VFMC suffers portfolio losses

RUTH LIEW  |  THURSDAY, 7 MAY 2009
The $30 billion Victorian Funds Management Corporation (VFMC) took the full brunt of the stockmarket slump when it posted a 28 per cent loss in its Australian equities portfolio for the financial year to 31 March - and a 29 per cent loss in international ...

LaSalle raises $400m in Mexican fund

MICHELLE BALTAZAR  |  TUESDAY, 5 MAY 2009
The swine flu may have put a dampener on Mexico's local economy but that hasn't stopped LaSalle Investment Management from successfully raising $400 million in a fund that invests in Mexico's real estate market.

Future Fund hires more managers

RUTH LIEW  |  TUESDAY, 5 MAY 2009
Goldman Sachs, ING Clarion and Perennial are just three of seven new mandate beneficiaries of the $59 billion Future Fund.

Clearway adds third client

MICHAEL HOBBS  |  TUESDAY, 5 MAY 2009
Clearway Capital Solutions, has been appointed by Connecticut based Zebra Capital Management to market the business locally and in New Zealand.

Austock exits asset management

RUTH LIEW  |  MONDAY, 4 MAY 2009
Austock has sold its asset management business, which includes the Austock High Yield Fund and Austock Australian Equity Fund, to Martin Ryan, one of the company's founders.

Global funds face currency pains

MICHAEL HOBBS  |  MONDAY, 4 MAY 2009
Global fund managers have been caught out by the 30 per cent fall in the Australian dollar late last year, forcing some funds to stop distributing income to unit holders for the March quarter.

Shareholder claims hike D&O costs

MICHELLE BALTAZAR  |  MONDAY, 4 MAY 2009
Financial services companies face higher directors and officers (D&O) insurance costs as the number of securities class actions rise, another unwanted outcome of the credit crisis where more shareholders sue failed companies.

Macquarie funds down, cash up

MICHELLE BALTAZAR  |  FRIDAY, 1 MAY 2009
Macquarie Group has posted a 52 per cent fall in full year profits to $871 million with key investment divisions all reporting a fall in revenues due to the global financial crisis - but the silver lining was the growth of its retail financial services ...

CORRECTION: Aberdeen takes on 30 Credit Suisse staff

RUTH LIEW  |  FRIDAY, 1 MAY 2009
Aberdeen has recruited 30 staff from Credit Suisse and approximately $13 billion in assets under management after the acquisition of certain assets and business of Cerdit Suisse's Global Investors division.

Montgomery develops info business

PRESS RELEASE  |  FRIDAY, 1 MAY 2009
Clime Asset Management founder, Roger Montgomery, has left the firm to set up Montgomery Investments.