AdviserVoicewholesale funds Archives - AdviserVoice https://www.adviservoice.com.au/tag/wholesale-funds/ Financial planner information & financial planner education/CPD - AdviserVoice Thu, 11 Jun 2026 21:30:14 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 S&P Australian Equites Large-Cap review: more down than up https://www.adviservoice.com.au/2011/07/sp-australian-equites-large-cap-review-more-down-than-up/ https://www.adviservoice.com.au/2011/07/sp-australian-equites-large-cap-review-more-down-than-up/#respond Thu, 07 Jul 2011 06:59:02 +0000 https://adviservoice.com.au/?p=10137 Standard & Poor’s Fund Services today released its second batch of peer group ratings in its 2011 Australian Equities Large-Cap sector review for Income, Multi-Manager, Quantitative, and Unconstrained funds. We affirmed most ratings in the peer groups, but downgraded three funds, upgraded one, assigned one new rating, and removed one fund from ‘On Hold’, reinstating its previous rating. One fund remains ‘On Hold’.

In our income peer group, we rated a number of funds as four stars. However, we downgraded two funds—BT Geared Imputation W and BT Imputation Sh W—to four stars from our highest five-star rating. While we consider the funds’ new portfolio managers Jim Taylor and Andrew Waddington to be strong investment professionals, we have not yet had sufficient opportunity to build our highest level of conviction in the pairing. Conversely, we upgraded the CFS Imputation Fund to four stars, primarily due to our strong confidence in the depth of the team’s industry and stock research, as well as improved stability under the leadership of Marcus Fanning.

“We did not identify a standout quantitative or multi-manager strategy, reflecting our modest conviction levels in these two peer groups. In the quantitative peer group, we downgraded the CFS Acadian Wholesale Australian Equity fund to three stars from four stars based on our lowered conviction in its ability to meet its performance targets,” said S&P Fund Services analyst James Gunn.

Mr. Gunn added: “Encouragingly, quantitative managers have generally delivered improved performance outcomes over the past 18 months, while demonstrating a strong focus on implementing new and unique signals to address the problem of the “crowded trade”, where a large weight of quantitative money chases the same investment themes. Nevertheless, we believe these enhancements need to be proven in a live environment over a longer period and currently we don’t believe one manager is necessarily ahead of the pack.”

We affirmed our three-star rating on the Pengana Australian Equities Core Fund, the only strategy in our unconstrained peer group.

We have now released ratings on eight of the 12 peer groups in our 2011 Australian Equities Large-Cap sector review. We will release the remaining four peer groups progressively over the next six weeks, followed by our key findings in the sector report.  Reports for all funds rated in the peer groups published today are now available on S&P’s subscriber website www.fundsinsights.com.

]]> Standard & Poor’s Fund Services today released its second batch of peer group ratings in its 2011 Australian Equities Large-Cap sector review for Income, Multi-Manager, Quantitative, and Unconstrained funds. We affirmed most ratings in the peer groups, but downgraded three funds, upgraded one, assigned one new rating, and removed one fund from ‘On Hold’, reinstating its previous rating. One fund remains ‘On Hold’.

In our income peer group, we rated a number of funds as four stars. However, we downgraded two funds—BT Geared Imputation W and BT Imputation Sh W—to four stars from our highest five-star rating. While we consider the funds’ new portfolio managers Jim Taylor and Andrew Waddington to be strong investment professionals, we have not yet had sufficient opportunity to build our highest level of conviction in the pairing. Conversely, we upgraded the CFS Imputation Fund to four stars, primarily due to our strong confidence in the depth of the team’s industry and stock research, as well as improved stability under the leadership of Marcus Fanning.

“We did not identify a standout quantitative or multi-manager strategy, reflecting our modest conviction levels in these two peer groups. In the quantitative peer group, we downgraded the CFS Acadian Wholesale Australian Equity fund to three stars from four stars based on our lowered conviction in its ability to meet its performance targets,” said S&P Fund Services analyst James Gunn.

Mr. Gunn added: “Encouragingly, quantitative managers have generally delivered improved performance outcomes over the past 18 months, while demonstrating a strong focus on implementing new and unique signals to address the problem of the “crowded trade”, where a large weight of quantitative money chases the same investment themes. Nevertheless, we believe these enhancements need to be proven in a live environment over a longer period and currently we don’t believe one manager is necessarily ahead of the pack.”

We affirmed our three-star rating on the Pengana Australian Equities Core Fund, the only strategy in our unconstrained peer group.

We have now released ratings on eight of the 12 peer groups in our 2011 Australian Equities Large-Cap sector review. We will release the remaining four peer groups progressively over the next six weeks, followed by our key findings in the sector report.  Reports for all funds rated in the peer groups published today are now available on S&P’s subscriber website www.fundsinsights.com.

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]]> https://www.adviservoice.com.au/2011/07/sp-australian-equites-large-cap-review-more-down-than-up/feed/ 0 ING to sell Australian investment management unit to UBS https://www.adviservoice.com.au/2011/06/ing-to-sell-australian-investment-management-unit-to-ubs/ https://www.adviservoice.com.au/2011/06/ing-to-sell-australian-investment-management-unit-to-ubs/#respond Thu, 30 Jun 2011 13:08:24 +0000 https://adviservoice.com.au/?p=9965 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 March 2011, the majority of which is managed on behalf of ANZ’s wealth management business, OnePath.

 In a letter announcing the sale, CEO Steven Billiet writes “the  transaction supports ING‘s objective to actively manage its capital and portfolio of businesses to ensure an attractive and coherent combination for the announced potential IPOs of its insurance and investment management activities.

 “ING has previously said it plans to divest its insurance and investment management operations by the end of 2013 through a base case of two IPOs: a European-led IPO including the European and Asian insurance and investment management businesses, and a U.S.-focussed IPO.

 “With a strong presence in Europe, the Americas, and nine Asian countries, ING Investment Management remains well-positioned in relation to the attractive Australian market.
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“We continue to manage an array of off-shore strategies in our various international investment centres, which are available to our clients domestically, regionally, and globally.
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“The transaction is subject to regulatory approval by the Dutch government and is expected to close in the fourth quarter of 2011. ING IM will be working with UBS Global Asset Management to ensure a smooth transition for all clients, but there will be no changes to client relationships or the way funds are managed in the short-term.
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“We understand that you will likely have questions or need additional information and we remain committed to keeping you updated on developments. In the meantime, our focus remains on delivering superior investment returns and servicing the needs of our clients.”

]]> 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 March 2011, the majority of which is managed on behalf of ANZ’s wealth management business, OnePath.

 In a letter announcing the sale, CEO Steven Billiet writes “the  transaction supports ING‘s objective to actively manage its capital and portfolio of businesses to ensure an attractive and coherent combination for the announced potential IPOs of its insurance and investment management activities.

 “ING has previously said it plans to divest its insurance and investment management operations by the end of 2013 through a base case of two IPOs: a European-led IPO including the European and Asian insurance and investment management businesses, and a U.S.-focussed IPO.

 “With a strong presence in Europe, the Americas, and nine Asian countries, ING Investment Management remains well-positioned in relation to the attractive Australian market.
z
“We continue to manage an array of off-shore strategies in our various international investment centres, which are available to our clients domestically, regionally, and globally.
z
“The transaction is subject to regulatory approval by the Dutch government and is expected to close in the fourth quarter of 2011. ING IM will be working with UBS Global Asset Management to ensure a smooth transition for all clients, but there will be no changes to client relationships or the way funds are managed in the short-term.
z
“We understand that you will likely have questions or need additional information and we remain committed to keeping you updated on developments. In the meantime, our focus remains on delivering superior investment returns and servicing the needs of our clients.”

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