Fundies rise in stature as Hearts and Minds LIC takes flight

Fundies rise in stature as Hearts and Minds LIC takes flight

A new generation of fund managers are leaning on fearless activism and finely tuned ideas to assert themselves as the market's sharpest minds and deliver index-beating returns in defiance of a sinking equity market. From VGI Partners' war with Corporate Travel Management, to Merlon Capital's challenge of stricken AMP's strategy, investment managers are embracing their…
Merlon Capital slams AMP governance

Merlon Capital slams AMP governance

Merlon Capital Partners, the $1.3 billion boutique fund manager that is taking on AMP, says the wealth giant's move to divest its life business without seeking shareholder approval sets a "grim precedent" and has presented data to show how unusual the decision was. Fund managers Hamish Carlisle and Neil Margolis said in a note sent…
The $5b royal commission bump for AustralianSuper, Hostplus and Cbus

The $5b royal commission bump for AustralianSuper, Hostplus and Cbus

by Joanna Mather More than $5 billion flowed out of superannuation funds owned by AMP and the Big Four banks into AustralianSuper, Hostplus and Cbus in the six months to September. The exodus, fuelled by exposés of poor performance by the Hayne royal commission and a Productivity Commission report, is forecast to continue into 2019…
Scott Morrison a ‘turning point’ in China ties

Scott Morrison a ‘turning point’ in China ties

Singapore: Scott Morrison says Australia will not take sides amid escalating tensions between the United States and China, as China's Premier Li Keqiang hailed Mr Morrison's ascension to the leadership as an opportunity to repair the Australia-China relationship. Mr Li also told Mr Morrison that Australia should provide a non-discriminatory and fair environment for Chinese investors. In the past 2½ months,…
Now is not the time for Scott Morrison to put Australia’s friends offside

Now is not the time for Scott Morrison to put Australia’s friends offside

Soon after Scott Morrison became Prime Minister, he was presented with a policy wish list by Liberal senator Eric Abetz and other conservatives who had helped dynamite Malcolm Turnbull. It included abandoning the Paris climate change commitments and moving Australia's Israeli embassy from Tel Aviv to Jerusalem. Morrison declined to abandon the Paris commitments, which…
Chaos for Theresa May as Brexit secretary Dominic Raab quits

Chaos for Theresa May as Brexit secretary Dominic Raab quits

by Kylie MacLellan and Sarah Young London | British Prime Minister Theresa May was dealt a severe blow on Thursday when her Brexit secretary and another minister quit, striking at the heart of a draft divorce deal with the EU she is battling to sell to her party, parliament and the country. Just over 12 hours…
Goodman Group slammed with 45 per cent first strike on pay

Goodman Group slammed with 45 per cent first strike on pay

Global logistics property giant Goodman Group has been given a 'first strike' with almost half of shareholder votes cast against the company's remuneration report and performance rights to executives. It is not the first time the company has been hit by a so-called "strike" – a vote of more than 25 per cent against a…
Navitas chairman Tracey Horton survives embarrassing ‘no’ vote against re-election

Navitas chairman Tracey Horton survives embarrassing ‘no’ vote against re-election

Nativas chairman Tracey Horton has survived by the skin of her teeth after a shareholder backlash against her re-election fuelled by the board's rejection of a $2 billion takeover offer from private equity company BGH Capital. Ms Horton scraped through with 50.8 per cent of votes cast in her favour and 49.2 per cent against…
Rinehart family feud should be played out in public, High Court told

Rinehart family feud should be played out in public, High Court told

The High Court should not interpret an arbitration clause covering a deed signed by mining magnate Gina Rinehart and her children in a way that would close off public scrutiny, the High Court has been told. In a two-day hearing in Canberra, Bret Walker SC said the "grievances about trust and fiduciary obligations" should be…
Marriage and money: how weddings became big business

Marriage and money: how weddings became big business

There's so much to think about right now. I was contemplating Theresa May's woes as she tries to salvage a deal from the debacle of Brexit negotiations with the European Union. My attention was snagged by more concerning signs out of China as US Vice-President Mike Pence issues warnings about trade wars. Scott Morrison is…

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