FUND MANAGEMENT – AUSTRALIA

Former PM Gillard to chair $2bn energy fund

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 14 : 7-May-24

HMC Capital has announced that former prime minister Julia Gillard has agreed to chair the newly created $2 billion HMC Capital Energy Transition Fund, which will make investments in energy assets such as wind, battery and bio-fuels. Gillard said she was "excited and honoured" by her appointment, noting it was in the nation’s interests to make the most of its abundant sources of renewable energy, while for his part, HMC Capital CEO David Di Pilla said he was "absolutely delighted" that someone of Gillard’s global standing and experience had agreed to chair the new fund.

CORPORATES
HMC CAPITA LIMITED – ASX HMC, HMC CAPITAL ENERGY TRANSITION FUND

Former PM Gillard to chair $2bn energy fund

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 14 : 7-May-24

HMC Capital has announced that former prime minister Julia Gillard has agreed to chair the newly created $2 billion HMC Capital Energy Transition Fund, which will make investments in energy assets such as wind, battery and bio-fuels. Gillard said she was "excited and honoured" by her appointment, noting it was in the nation’s interests to make the most of its abundant sources of renewable energy, while for his part, HMC Capital CEO David Di Pilla said he was "absolutely delighted" that someone of Gillard’s global standing and experience had agreed to chair the new fund.

CORPORATES
HMC CAPITA LIMITED – ASX HMC, HMC CAPITAL ENERGY TRANSITION FUND

ESG investment pioneer calls for ban on labels

roymorgansocial Leave a comment

Original article by Joanne Tran
The Australian Financial Review – Page: 29 : 21-Nov-23

Managed funds with an environmental, social and governance focus have attracted growing scrutiny from investors and regulators in 2023. Nanuk Asset Management’s chief investment officer Thomas King contends that criticism of ESG funds and issues such as their performance has validity. King also believes that the ESG label has been overused and it should be banned; he says the acronym is confusing and ESG scores are "distracting nonsense", and that plain language should be used to describe what managed funds are doing.

CORPORATES
NANUK ASSET MANAGEMENT PTY LTD

Investors pull out of equities on recession fear

roymorgansocial Leave a comment

Original article by Joanne Tran
The Australian Financial Review – Page: 27 : 12-Jul-23

Data from global funds network Calastone shows that Australia fund managers’ net outflows totalled $2.8bn in the June quarter. Equities accounted for $1.65bn of the net outflows, while property accounted for $173m. The bearish investor sentiment toward higher-risk assets resulted in fixed income funds recording net inflows of $582m for the period. Teresa Walker of Calastone says there is no particular reason to favour the Australian sharemarket over offshore markets at present.

CORPORATES
CALASTONE

Future Fund tops $200b, banks on active managers

roymorgansocial Leave a comment

Original article by Jonathan Shapiro
The Australian Financial Review – Page: 15 & 20 : 2-Feb-22

The federal government’s Future Fund has posted a return of 19.1 per cent for 2021. The sovereign wealth fund’s assets under management rose to a new high of $204bn during the calendar year. It has achieved a return of about 10.8 per cent each year since it was established in 2006 with just $60.5bn worth of assets. Future Fund CEO Raphael Arndt has warned that investors cannot expect the "easy returns" of the last decade or so to continue. He adds that some asset classes will be impacted when interest rates start to rise, although he has downplayed the prospect of stagflation.

CORPORATES
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY

Future Fund just shy of $200b after 1.2pc quarter

roymorgansocial Leave a comment

Original article by Jonathan Shapiro
The Australian Financial Review – Page: 16 : 26-Oct-21

The federal government’s Future Fund has posted a return of 1.2 per cent for the September quarter, following a record gain of 10.2 per cent for the three months to June. Australian shares gained 5.34 per cent in the September quarter, while international shares gained 4.68 per cent and emerging market shares lost 4.17 per cent. The Future Fund reduced its exposure to global shares during the quarter, while its allocation to infrastructure and private equity assets increased; the latter is now its biggest asset class. The sovereign wealth fund boasts nearly $200bn worth of assets under management.

CORPORATES
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY

Challenge for AMP over pay, fund deal

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian – Page: 17 : 26-Apr-21

AMP’s proposal to spin off its private markets division is set to be a key focus of its virtual AGM on 30 April. Brett Le Mesurier of Velocity Trade has downgraded his share price target for AMP in response to the demerger proposal, which followed AMP’s decision to terminate negotiations with Ares Management over a full or partial sale of the business. Meanwhile, two proxy advisers have recommended that shareholders vote in favour of AMP’s remuneration report, while ISS has called for investors to reject it.

CORPORATES
AMP LIMITED – ASX AMP, ARES CAPITAL MANAGEMENT LLC, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED

New chief confronts huge task at AMP

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Weekend Australian – Page: 21 & 25 : 3-Apr-21

Analysts are generally positive about the appointment of Alexis George to succeed Francesco De Ferrari as CEO of embattled wealth manager AMP, but note the challenges that she will face. George is currently deputy CEO at the ANZ Bank, and will take up her new role in the September quarter. AMP’s shares have fallen more than 45 per cent since De Ferrari became CEO in December 2018. AMP is still in talks with Ares Management regarding the sale of its private markets division.

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ARES MANAGEMENT CORPORATION

US fund Ares in AMP buyout talks

roymorgansocial Leave a comment

Original article by Bridget Carter, Lachlan Moffet Gray
The Australian – Page: 13 & 20 : 30-Oct-20

New York Stock Exchange-listed private equity firm Ares Management has been given access to AMP’s data room and is said to be considering a full takeover play. Ares boasts more than $US149bn ($211.3bn) in assets under management, and CEO Michael Arougheti has flagged the potential for acquisitions in the Asia-Pacific region. AMP recently announced a portfolio review, which could result in the sale of all or part of the business. AMP’s market capitalisation is about $4.4bn, based on the stock’s closing price of $1.28 on 29 October.

CORPORATES
AMP LIMITED – ASX AMP, ARES MANAGEMENT CORPORATION

AMP bids to reassure investors on outflows

roymorgansocial Leave a comment

Original article by Cliona O’Dowd
The Australian – Page: 17 : 23-Oct-20

AMP CEO Francesco De Ferrari says the company has been resilient during the coronavirus pandemic. However, the wealth manager has reported net outflows of $8bn for the September quarter, with net inflows of just $6bn. The AMP Capital division has posted net outflows of $1.1bn for the period, while its assets under management fell 0.4 per cent to $189.2bn. Meanwhile, AMP Bank’s deposits increased by $52m to $17bn during the quarter, but its loan book fell $303m to $20.6bn.

CORPORATES
AMP LIMITED – ASX AMP, AMP CAPITAL INVESTORS LIMITED, AMP BANK LIMITED