Advance, Colonial strike gold
Advance Funds Management and Colonial First State picked up the majority of the funds management gongs at last night’s Personal Investor Awards at Sydney’s ANA Hotel.
Advance won the international and local share fund awards for its largely outsourced funds management business. The bulk of Advance’s international funds are managed by Morgan Stanley while its domestic equities funds are managed by Maple-Brown Abbott. Both the local and international share funds benefited from the strong run in value stocks over the past year.
Colonial First State took out the balanced, listed property and allocated pension awards, adding to its swag picked up at least year’s awards.
In the new life insurance awards, MLC was victorious in the life insurance division; AXA bagged the annuity gong; while AMP won the disability policy award.
Recommended for you
ASIC has cancelled the AFSL of a Perth financial services firm following payments to its clients by the Compensation Scheme of Last Resort after a failed managed investment scheme.
Bravura chief executive Andrew Russell has announced he will be stepping down from the company, just under two years after his appointment.
Financial advice businesses with a younger, wealthier client base are enjoying higher valuations and increased attention from potential buyers than those with older clients.
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
