K64 Auxiliary Finance and Insurance Services

Citi, ANZ price forecast grim for high-cost iron ore

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Original article by Amanda Saunders
The Australian Financial Review – Page: 28 : 12-Nov-14

The ANZ Bank’s Mark Pervan doubts that the iron ore price will return to $US100 per tonne, and forecasts that the steel input will trade at $US78/tonne in 2015. Citigroup expects the iron ore price to trade at $US65/tonne in 2015 and 2016. The firm has downgraded its recommendation on Atlas Iron and Mount Gibson Iron stock from "neutral" to "sell", and Fortescue Metals Group has been downgraded from "buy" to "neutral"

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, CITIGROUP PTY LTD, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP

Outlook for deals healthy as vendors eye valuations

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 17 : 11-Nov-14

Data from Dealogic shows that Australian companies have been involved in $US77.3bn ($A89.1bn) worth of mergers and acquisitions so far in 2014, which is nine per cent higher than previously. Meanwhile, a new report from Grant Thornton forecasts further growth in mergers and acquisitions activity in the next 12 months, following 105 deals in the 18 months to 30 June 2014

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, GRANT THORNTON AUSTRALIA, UBS HOLDINGS PTY LTD, GRESHAM PRIVATE EQUITY LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Fund’s bid to cut costs, lift returns

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Original article by Andrew White
The Australian – Page: 19 : 10-Nov-14

The 2014 annual report of industry superannuation fund AustralianSuper shows growth in investment income from $A2.08bn to $A2.9bn and funds under management from $A65bn to $A78bn. Head of equities Innes McKeand also notes that $A8.8bn of the latter has been reallocated to internal managers during the past year, with a target of around $A40bn by 2019. At the moment, all overseas equities are still managed by external providers, such as MFS Institutional Investors, Baillie Gifford Overseas and State Street Global Advisers

CORPORATES
AUSTRALIANSUPER PTY LTD, MFS INSTITUTIONAL ADVISORS (AUSTRALIA) LIMITED, BAILLIE GIFFORD AND COMPANY, STATE STREET GLOBAL ADVISORS AUSTRALIA LIMITED, IFM INVESTORS PTY LTD, ISPT PTY LTD, PERPETUAL LIMITED – ASX PPT, FIL INVESTMENT MANAGEMENT LIMITED, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, AIRLIE FUNDS MANAGEMENT PTY LTD, BENTHAM ASSET MANAGEMENT PTY LTD, PORT BOTANY, PORT KEMBLA, QUEENSLAND MOTORWAYS LIMITED, TRANSURBAN GROUP LIMITED – ASX TCL

Local hedge funds better than ASX, global peers

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Original article by Bianca Hartge-Hazelman
The Australian Financial Review – Page: 25 : 6-Nov-14

Australian hedge funds achieved an average return of 4.3 per cent in the first nine months of 2014, according to Australian Fund Monitors. The firm also notes that 63 per cent of these funds outperformed the S&P/ASX 200 Index, while 95 per cent did so in September, when the market fell sharply. Local hedge funds have also outperformed their global counterparts, with the Bloomberg Global Aggregate Hedge Fund Index achieving a return of 2.3 per cent

CORPORATES
AUSTRALIAN FUND MONITORS PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX 200 ACCUMULATION INDEX, BLOOMBERG GLOBAL AGGREGATE HEDGE FUND INDEX, STANDARD AND POOR’S 500 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, REGAL FUNDS MANAGEMENT PTY LTD, MORNINGSTAR PTY LTD

Ahh, to be young … and rich

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Original article by John Stensholt, Michael Bailey
The Australian Financial Review – Page: 10 & 11 : 31-Oct-14

Members of "BRW" magazine’s 2014 Young Rich List have a combined wealth of $A8.3bn. The list is headed by Mike Cannon-Brookes and Scott Farquhar of software group Atlassian, who are collectively worth $A2.1bn. They are followed by Campaign Monitor’s Dave Greiner and Ben Richardson, who are worth a combined $A500m. Carman’s Fine Foods’ Carolyn Creswell is the highest-ranked woman on the list, with personal wealth of $A83m

CORPORATES
ATLASSIAN SOFTWARE SYSTEMS PTY LTD, CAMPAIGN MONITOR PTY LTD, CARMAN’S FINE FOODS PTY LTD, T ROWE PRICE GROUP INCORPORATED, DRAGONEER INVESTMENT GROUP LLC, INSIGHT VENTURE PARTNERS, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, TESCO PLC, J SAINSBURY PLC, VANTAGE, YAHOO! INCORPORATED, AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO, REWARDLE HOLDINGS LIMITED – ASX RXH, BPM CONSTRUCTION AND DEVELOPMENT GROUP

Socially responsible investing demands rigour, says adviser

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Original article by Jemima Whyte
The Australian Financial Review – Page: 12 : 30-Oct-14

The socially responsible investment industry in Australia is less mature than the same sector in the US. Alexandra P Cart, co-founder of US impact investment advisory firm Madeira Capital, says more accountability is needed in the sector. Metrics must also be improved. Impact investing recently attracted public attention after the Australian National University opted for the removal of several mining companies from its investment fund

CORPORATES
MADEIRA GLOBAL LLC, JP MORGAN AUSTRALIA LIMITED, AUSTRALIAN NATIONAL UNIVERSITY, PHILANTHROPY AUSTRALIA, OIL SEARCH LIMITED – ASX OSH, SANTOS LIMITED – ASX STO

Fund managers tap cash to drive further buoyancy

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Original article by Bianca Hartge-Hazelman
The Australian Financial Review – Page: 21 : 29-Oct-14

Australia’s benchmark S&P/ASX 200 has risen by 5.5 per cent in the last two weeks, after dipping nearly nine per cent in the previous six weeks. A number of Australian share funds reduced their cash holdings in the September 2014 quarter, according to data from Morningstar. Arnhem Investment Management is among the fund managers to have capitalised on recent share price weakness to increase their exposure to equities

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, MORNINGSTAR PTY LTD, ARNHEM INVESTMENT MANAGEMENT PTY LTD, AIRLIE FUNDS MANAGEMENT PTY LTD, FIDELITY AUSTRALIAN OPPORTUNITIES FUND, PERPETUAL’S INDUSTRIAL SHARE FUND, SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED, AUSBIL DEXIA LIMITED, INVESTORS MUTUAL AUSTRALIAN SHARE FUND, AMCOR LIMITED – ASX AMC, RESMED INCORPORATED – ASX RMD, WOOLWORTHS LIMITED – ASX WOW, MAGELLAN ASSET MANAGEMENT PTY LTD

News Corp targets $1.85trn super pool

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Original article by Madeleine Heffernan
The Australian Financial Review – Page: 29 : 27-Oct-14

Investment platform provider OneVue has consented to an alliance with News Corp Australia, as the media group seeks to expand into new markets. It now aims to offer services for superannuation account holders, with the launch of its BrightDay product. The venture is to be managed by James Leplaw, GM of News Corp’s "Eureka Report" investor newsletter. The latter is part of the Australian Independent Business Media publishing business acquired by News Corp in mid-2012, but is believed to have suffered a drop in subscriber numbers

CORPORATES
NEWS CORPORATION – ASX NWS, ONEVUE HOLDINGS LIMITED – ASX OVH, NEWS CORP AUSTRALIA PTY LTD, AUSTRALIAN INDEPENDENT BUSINESS MEDIA PTY LTD, EUREKA REPORT PTY LTD, CLIME ASSET MANAGEMENT PTY LTD, PRIVATE MEDIA PARTNERS PTY LTD, CARNEGIE, WYLIE AND COMPANY PTY LTD, INVESTSMART FINANCIAL SERVICES PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, MORGANS FINANCIAL LIMITED

Shares still compelling as ageing population chases income

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Original article by Philip Baker
The Australian Financial Review – Page: 27 : 24-Oct-14

Experts advise investors to focus on equities that are likely to benefit from so-called megatrends such as population growth, ageing societies and the rising of the middle class. Yield will be the primary consideration for investors. With a 10-year government bond yielding only about 3.2 per cent, investors are likely to choose equities instead

CORPORATES
SANOFI PHARMACEUTICALS, COLGATE-PALMOLIVE COMPANY, JOHNSON AND JOHNSON, SABMILLER PLC, AMP LIMITED – ASX AMP, AMP CAPITAL INVESTORS LIMITED

Perpetual says Medibank attractive

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Original article by Jessica Gardner
The Australian Financial Review – Page: 13 : 22-Oct-14

The indicative share price range for the IPO of Medibank Private has been set at $A1.55 to $A2. Matt Williams of Perpetual says Medibank will be an attractive investment if the stock is offered at the right price. However, he says Medibank is likely to achieve cost efficiencies in the medium-term rather than immediately after it becomes a public company. He adds that the health insurer could be a player in consolidation of the industry

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, PERPETUAL LIMITED – ASX PPT, QR NATIONAL LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, NIB HOLDINGS LIMITED – ASX NHF, BUPA AUSTRALIA PTY LTD, CANACCORD GENUITY (AUSTRALIA) LIMITED, MACQUARIE CAPITAL PTY LTD