Industry
OMGI parts ways with Asian equities team
Old Mutual Global Investors (OMGI) is to hand the management of its two Asian equity funds to the firm’s global equities desk headed by Ian Heslop and part ways with fund manager Josh Crabb and his investment team, International Adviser can reveal.
Morningstar launches adviser fund selection tool
Morningstar has set up a business unit for financial institutions and advisers seeking to outsource fund selection and asset allocation.
PEOPLE MOVES: Guernsey Finance, AIC, Aviva
Guernsey Finance has hired a London representative to promote the island’s financial services industry, the Association of Investment Companies appoints a board director and Aviva Investors poaches from Standard Life.
Aussie bank CBA set for A$4bn global asset management arm IPO
Commonwealth Bank of Australia is to list its Colonial First State Global Asset Management business in a deal that analysts predict could net as much as A$4bn (£2.2bn, $3.1bn, €2.5bn).
Praemium funds hit A$7.8bn despite tough market
Amid sharp declines in equity markets, Australian investment platform Praemium reported its third highest gross inflows on record and saw funds under administration rise 5.2% to A$7.8bn (£4.25bn, $6bn, €4.9bn) during the first quarter of 2018.