Money Comment: Dumping of top stock-picker Sevior sounds alarm for money managers

14:29  22 february  2018
14:29  22 february  2018 Source:   theage.com.au

A culprit for financial site glitches: you and your apps

  A culprit for financial site glitches: you and your apps For many firms an issue was the growing adoption of financial apps on mobile devices, which make it much easier for clients to check their balances or watch market indexes. That created greater network loads, even when clients were not looking to trade."The app is in their hands and they can check it as they get out of the car. That's different than what many systems were built for," said Kendra Thompson, a managing director for Accenture, which advises big asset managers on technology.Delays were magnified as frustrated consumers returned repeatedly, conditioned by social media to expect a quick informational hit.

A move by the country’s largest superannuation fund, Australian Super, to dump the fund run by high-profile stock - picker John Sevior underscores the challenges facing professional money managers on many fronts.

For the past nine years, our primary goal with the Ultimate Stock - Pickers concept has been to uncover investment ideas that not only reflect the most recent transactions of our grouping of top investment managers but are also timely enough for investors to get some value from them.

John Sevior, director of Airlie Funds Management, which was recently bought by Magellan.© Chris Pearce John Sevior, director of Airlie Funds Management, which was recently bought by Magellan.

A move by the country’s largest superannuation fund, Australian Super, to dump the fund run by high-profile stock-picker John Sevior underscores the challenges facing professional money managers on many fronts.

Fund managers are fending off low-cost index-tracking funds, which are gobbling up market share and crunching margins at the same time.

In addition, active managers like Mr Sevior's Airlie Funds Management must deal with other challenges created by the rapid growth in Australia's $2.5 trillion superannuation pool.

The jobs most in demand in Australia for 2018

  The jobs most in demand in Australia for 2018 Demand is stronger than expected for people to fill key jobs in finance and tech in Australia at the start of 2018. David Jones, Senior Managing Director at Robert Half, says the hottest jobs are those at the $100,000 to $150,000 a year level. "Demand is certainly very strong, and stronger than we were anticipating," he told Business Insider."In Australia, you tend to see job demand significantly lower in January, particularly the first two to two and a half weeks, than it was in December when people are trying to get their jobs filled before the Christmas break."But this year, January is as good as December. That is unusual and positive.

MONEY asked stock fund managers who outperform both peers and market indexes to pick their top investing picks for your 2018 portfolio. Top Stock Picks for 2018, According to People Who Have Beaten the Market.

The “Buffett Bet” underscores how the past decade has proved tough for many professional money managers . It has been a particularly miserable period for the once-venerated tribe of stock pickers

To be sure, the rise of the super system has been lucrative for fund managers, who can make millions from being good stock-pickers.

But the sheer scale of the superannuation pie - and how much of it is chewed up by fees -  is now prompting behemoths such as Australian Super to cut out the middle man and do more of their own investment management in-house, for a fraction of the cost.

Australian Super terminated a $1.8 billion mandate with Airlie, it was reported earlier this week, after Hamish Douglass' Magellan Financial Group announced it would buy Airlie earlier this month.

The move has grabbed attenion as Mr Sevior, previously a star stock-picker at Perpetual, after starting in journalism, is one of the best regarded funds managers in Australia.

Samsung wants to build drones that you control with your eyes

  Samsung wants to build drones that you control with your eyes These days, it feels like screens are everywhere. Samsung might be about to take that to a higher level. A division of the Korean tech…A division of the Korean tech giant was awarded a patent Feb. 13 (flagged this week by The Verge and surfaced by Dutch publication LetsGoDigital) for flying video displays, controlled by the movement of a person’s eyes.

We uncovered two undervalued stocks that multiple top managers were buying earlier this year. For more, visit the Ultimate Stock - Pickers homepage and sign up for Ultimate Stock - Pickers e-mail alerts. Please add your comment . We've sent your message.

The fund managers represented in our Ultimate Stock - Pickers concept have had their own issues with relative long-term performance. Our Ultimate Stock - Pickers Top 10 High-Conviction and New- Money Purchases. Comments ? Questions? E-mail us.

The reasons for the decision include the super fund’s push to manage more of its money in-house as it grows larger, and the performance of Airlie, which charges a premium compared with other fund managers.

Australian Super, which has $130 billion in assets under management, has made made no secret of the fact it wants to do more investment management in-house.

Its costs from carrying out funds management in-house are between one third and one quarter of paying for an external manager.

Across its $40 billion in Australian shares, a touch more than 30 per cent is managed internally, and it wants to drive this proportion higher, which is bound to mean more external managers are dumped.

Indeed, the rapid growth of funds such as Australian Super, which could well be holding $200 billion in assets within five years on its current growth trajectory, may make life harder still for boutique fund managers.

Woman Impersonated Cop to Get Chick-fil-A Discount

  Woman Impersonated Cop to Get Chick-fil-A Discount Have you ever been this desperate for a deal?  ever returning to that Chick-fil-A location. You may not be able to get a discount on these meals, but you’ll be making a healthy choice if you order any of America’s healthiest fast-food sandwiches. require(["inlineoutstreamAd", "c.

#AustralianSuper Dumping of top stock - picker # Sevior sounds alarm for money managers http No results. Back to top ↑. Loading seems to be taking a while. Twitter may be over capacity or experiencing a momentary hiccup.

We have every style of random result generator you might need - all visual, all with sounds , and all free :-) Got an idea for another Random Name Picker ? Online Alarm Clock - An Online Alarm Clock! Stay On Top App - Download a Stopwatch and Countdown timer that stays on top of all open windows.

When a fund is that enormous, there are greater economies of scale from managing money in-house.

It is also harder for a $1.8 billion mandate with an external manager to move the dial on the super fund's overall returns.

A broader issue for super funds is that as the super system swells in size, some funds may want to limit how much exposure they have to Australia's relatively concentrated stockmarket. For instance, about a quarter of the ASX 200 is made up by Commonwealth Bank, Westpac, National Australia Bank and ANZ Bank - which all have similar business models.

This is potentially a bigger issue in Australian than other markets, such as United States, where the stockmarket represents a wider range of industries. In response, some super funds such as Australian Super and others are looking to boost their members' exposure to overseas equities.

Amazon offers free sound effects to Alexa skill creators .
Amazon is making it easier for developers to add a variety of sound effects to their Alexa skills. Amazon says developers can use those effects, say, to add applause for correct answers in a trivia game or spooky ghost-like moans for a horror/adventure game. The whole library is free for skill-makers, who can use the sounds on their own or combined with other files. If you'd like to get an idea of what could hear on your Dot or Echo on a regular basis, check out the full collection on Alexa's Skills Kit page.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!