Fund Product, Company, and Regulatory Updates as at 25 October 2015

Product Updates

Findex launches Family Office service
Findex's new integrated wealth management service is set to provide a single point of contact for wealth management in families. It will take care of tax, risk consulting, lending, insurance, self-managed superannuation, audits, and business advisory. The point is to remove the multiple contact points, creating just one. 

Brookvine releases Mittleman Brothers fund to Australia
Brookvine, a fund manager and distributor, is bringing the Mittleman Brothers global value equity fund into the Australian institutional market. Mittleman Brothers in New York runs a highly-concentrated long-only global portfolio of between 15 and 20 stocks. 

Aon: launch of Uber and AirBnB-esque sharing economy for idle belongings
Aon Risk Solutions has partnered with Collaborate Corporation (an ASX-listed operator of peer-to-peer marketplaces) to launch in 2017. The company allows the rental of idle assets - household items to heavy industrial equipment - to generate income. 

Company Updates

Russell to manage child care and vet super funds worth $1.3bn
Russell Investments is to manage and advise for Guild Trustee Services, the trustee for GuildSuper, Child Care Super and GuildPension, with two asset classes still managed by Mercer. 

Regulatory Updates

Kenya and ASIC sign fintech innovation agreement
Kenya's financial regulator and ASIC have signed a cooperation agreement to promote innovation in financial services in both countries. The arrangement allows for sharing of information from both markets, including emerging market trends and regulatory issues. 

Macro All State Investments & Securities: AFSL cancelled
The Australian Financial Services licence (AFSL) of WA-based Macro All State Investments & Securities Limited has been cancelled. Director Desiree Macpherson is under investigation.