AUSTRALIA - The Queensland Investment Corporation (QIC) has terminated its US equity mandate with Legg Mason, as it looks to further diversify alpha streams in its International Equities Fund.
QIC, one of Australia’s largest institutional fund managers with A$60bn (US$53.4bn) under management, has instead appointed California-based manager Aletheia Research and Management to run an A$80m tailored...
AUSTRALIA - The wheels were finally set in motion to raise the contribution limit in Australia to 12% from 9% with the introduction of a new bill today.
AUSTRALIA - The A$73.2bn ($78.2bn) Future Fund lost 2.9% in the third quarter, though moves to decrease equity exposures helped stave off more drastic losses.
AUSTRALIA - The median balanced superannuation fund has fallen for the fifth consecutive month returning -1.8%, -4.9% for the September quarter and -3.8% for the past year, SuperRatings finds.
AUSTRALIA - The merger between the A$2.4bn (US$2.5bn) StatewideSuper and the A$1.7bn Local Super will move to the next stage, beginning the due diligence process following approval in principle from the funds' major shareholders.