News wrap: New senior adviser for Omniwealth

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Financial advice group Omniwealth has appointed a new senior adviser, Maria Dyson. She specialises in managing client portfolios for sophisticated investors, mainly in equities and risk, and joins the Omniwealth team from Perpetual Private.

Acorn Capital has appointed Ben Dalling as a sector portfolio manager and analyst to the Australian microcaps team, the second senior appointment in the past 12 months. Dalling will be responsible for the financials, REITs and industrials – capital goods sectors, and joins the team from Citi where he was head of emerging growth.

Asteron Life has partnered with the Australian Rugby Union and signed a three-year naming rights sponsorship of a super rugby series, which will be known as the ‘Asteron Life Super Rugby Tournament’ in Australia.

Between December 2009 and December 2013, NAB grew their personal traditional banking customers by 701,000 (up 28.7%) to be well ahead of the gains made by their major competitors ANZ, which grew by 339,000 (up 9.7%). CBA Group increased personal customers by 406,000 (up 5.7%) and Westpac Group gained 235,000 (up 4.8%). The big four dominated customer gains over the period, with the next highest gains going to ING Direct with an increase of 123,000 (up 18.2%), according to researchers Roy Morgan.

Wealth Know How, Australia’s first independent video-based website focused exclusively on wealth creation education, has been launched to support investors at all stages of life grow their wealth through financial education. The website, through quick videos, will initially cover areas of keen interest to investors, including SMSFs, shares, property, and managed funds. 

Childcare provider G8 Education will become the first Australian un-rated mid-cap to issue a floating rate note after FIIG Securities arranged a bond issue of up to $50 million. The issue of floating rate medium term notes will also make G8 Education the first mid-cap corporate to return to the market a second time, following its successful $70 million bond issue in August last year.

A report from the Australian National Audit Office shows the Tax Office experienced a significant spike in complaints between 2009-10 and 2011-12, averaging 42,000 complaints a year over this three year period. In the 2012-13 year, it received 27,000 complaints. Of complaints finalised for that year, 63% were upheld. The national auditor estimates the Tax Office spends up to $382 dealing with each complaint, excluding overheads and support staff, and says there needs to be changes to processing arrangements in the Tax Office to help ease problems before they happen.

According to a new State Street Global Advisors report, advanced beta strategies are playing a more influential role in some of the world’s largest portfolios. Forty-two percent of investors currently use advanced beta and another 24% plan to do so over the next three years. Seventy-five percent of the investors surveyed said advanced beta strategies – combining alpha and beta – are an attractive alternative to both active and passive fund management and a powerful evolution in asset allocation strategies.
 

 

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