Macquarie withdraws from S&P review
Macquarie Group has announced the withdrawal of its Professional Series from Standard & Poor's (S&P) 2012 Global Equity Review.
This comes as a consequence of S&P closing its Australian retail ratings offering in October this year.
Head of Macquarie Professional Series, Adrian Stewart, said the business had enjoyed a "long and professional relationship" with S&P and that Macquarie was sorry to see them leave the market.
"They have been a strong ratings house which offered the Australian financial planning industry high quality research and ratings across a large universe of funds," Stewart said.
Macquarie has picked up several S&P Fund Manager awards in the past few years, including categories such as global equities developed markets and alternatives.
AUTHOR
Staff Writer
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
