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Superannuation

Alternatives rewrite custody

The alternative investments frenzy that has swept the local market in the last two years has prompted Australia's largest custodians to go back to the drawing board and set up units specialising in reporting the exotic and not-so-exotic investment asset ...

Zenith rates local NY fund replica 'Highly Recommended'

CHRIS NICHOLLS  |  FRIDAY, 27 JUL 2007
Zenith has rated US-based New York Venture Fund replica AFM Davis Value Trust 'Highly Recommended'.

QIC awards $570m mandate to US endowment fund

HAMISH MADDEN  |  FRIDAY, 27 JUL 2007
QIC has awarded a $570 million (US$500 million) mandate to Makena Capital, a US-based endowment and foundation (E&F) fund.

Absolute Capital suspends redemptions

WWW.THESHEET.COM  |  THURSDAY, 26 JUL 2007
Hedge fund manager Absolute Capital posted a notice on its website yesterday saying that it had "closed" its flagship fund, the $200 million Absolute Capital Yield Strategies Fund.

NZ bourse doubles earnings ahead of KiwiSaver

The New Zealand Exchange has posted a 102 per cent increase in earnings in the first half of 2007 and expects a stronger boost later in the year once the KiwiSaver and other related tax changes kick in.

SMSFs and mergers drive Macq property fund growth

CHRIS NICHOLLS  |  WEDNESDAY, 25 JUL 2007
Macquarie Direct Property Fund (MDPF) today announced assets under management increased by almost 200 per cent over the past 12 months through a series of mergers and acquisitions that tipped in over $800m.

Magellan puts money where its mouth is

CHRIS NICHOLLS  |  WEDNESDAY, 25 JUL 2007
Magellan Financial Group has launched two unique retail funds that only pay performance fees when returns exceed both a relative market benchmark and 10 year Australian Government Bond yields.

AXA re-writes individual insurance

CHRIS NICHOLLS  |  TUESDAY, 24 JUL 2007
AXA today launched a significant upgrade to its individual insurance products, offering a new Trauma Reinstatement option, reduced TPD waiting periods and increased TPD payouts.

HFA finds Lighthouse leads to global growth

CHRIS NICHOLLS  |  TUESDAY, 24 JUL 2007
HFA has agreed to purchase US-based alternative investment manager Lighthouse Partners for A$707 million in cash and shares - approximately 11 times Lighthouse's estimated FY08 EBITDA.

Mellon wins $17.5m MFS mandate

CHRIS NICHOLLS  |  MONDAY, 23 JUL 2007
Mellon Global Investments Australia has won a $17.5 million mandate from MFS Investment Management (MFSIM) to manage their Premium Income Fund.