ING to sell Australian investment management unit to UBS

ING announced today that it has reached an agreement to sell its Australian investment management business to UBS. ING Investment Management Australia’s business provides a number of investment strategies and products directly to the Australian institutional and wholesale markets. The business had EUR 24.8 billion (AUD 34.0 billion) in assets under management as of 31 […]

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S&P Puts 15 ING Funds ‘On Hold’ following sale to UBS

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S&P Puts 15 ING Funds ‘On Hold’ Due To UBS Global Asset Management’s Intention To Acquire ING Investment Management (Australia) Standard & Poor’s Fund Services has placed 15 funds managed by ING Investment Management (Australia) Ltd. (ING IM)  ‘On Hold’ following today’s announcement that UBS Global Asset Management has entered into a binding agreement to acquire […]

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Investor Signposts: Week Beginning July 3 2011

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Upcoming economic and financial market events The big picture Our central view is that the US economy is undergoing a mid-cycle pause and that growth will start to lift again late in 2011. As such, we believe that the Federal Reserve won’t provide additional monetary stimulus and will in fact start to withdraw the stimulus […]

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All Star IAM Australian Share Fund achieves Recommended rating by Zenith

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Kate Mulligan, Managing Director of All Star Funds has announced today that the All Star IAM Australian Share Fund has been given a rating of “Recommended” by ratings agency Zenith. Zenith’s report states that Greg Matthews, portfolio manager of the All Star IAM Australian Share Fund, “is well supported by a team of senior portfolio […]

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Investors demand more competitive offerings from Alternative Strategies – Multi Asset Sector

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Notable changes have occurred in the Alternative Strategies – Multi Asset sector since Standard & Poor’s Fund Services’ last review in December 2009, according to the Sector Report published today. The growing demand for transparency, increased liquidity, fee structure changes, and lower stock-market beta products have increased competition in the sector. The classic fund of […]

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S&P Assigns ‘STRONG’ Rating To Commonwealth Bank’s Vantage+ Product

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Standard & Poor’s Fund Services has assigned its ‘STRONG’ rating to the Commonwealth Bank Vantage+ product. This reflects what we view as a solid expected risk-return profile, simple and efficient structure, and clear product philosophy and targeted investor profile. Commonwealth Bank Vantage+ provides enhanced or leveraged exposure to the price returns performance of the S&P/ASX […]

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Threadneedle strengthens high yield team with two additional hires

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Threadneedle, a leading international asset manager, has appointed two high yield investment analysts as the company continues to strengthen its fixed income capabilities. Gareth Simmons and Jenny Wong will both join Threadneedle in early July as part of the High Yield Bond team, headed by Barrie Whitman. These appointments bring the High Yield Bond Team, […]

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CommSec: Population growth hits 5-year low and cash is now king

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Demographic data; Financial Accounts Australia’s population grew by 69,703 people over the December quarter to 22,477,378. Annual population growth slowed from 1.57 per cent to 1.47 per cent – the weakest growth rate in almost five years. Despite businesses crying out for skilled migration, the Government’s reduction in the skilled migrant intake meant that in-bound […]

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All Star Funds makes Top Ten Net Flows first time in survey

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Kate Mulligan, Managing Director of All Star Funds, has announced today that All Star Funds has achieved a Top 10 ranking in the net retail flows for the March 2011 quarter (Plan For Life survey, Analysis Of Retail Managed Funds as at March 2011 – Marketer view (ex CMTs). With a 3% share of net […]

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RBA confirms that it is ‘wait and see’ mode

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In a speech by RBA Assistant Governor (Economic) Philip Lowe entitled “Inflation: The Recent Past and the Future”, Mr Lowe has reiterated that the RBA believes underlying inflation will lift only slowly, and over a matter of years rather than months. Philip Lowe didn’t flag any near-term implications for rates, noting: “While conditions are very […]

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