State Street adds to Oz TM
AUSTRALIA - Michael Putica has joined State Street from BNP Asset Management as business development manager for State Street Global Markets' transition management sales team.
Previously business development manager at BNP, targeting the superannuation segment, he brings with him eight years of Australian funds industry experience. “This addition to our Sydney team reflects...
More on Australia
Bill introduced to increase contribution rate to 12%
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.
Australian Future Fund returns -2.9% in third quarter
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.
Australian super falls for the fifth month
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.
StatewideSuper and Local Super takes a step forward
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.
