Fund Company Update

AMP Capital rebrand, demerger going ahead

As it demerges from AMP Limited, AMP Capital will be known as Collimate Capital. The name is said to be a metaphor for alignment, clarity and precision, a nod to ‘vision and expertise’.

Future Fund and NSW government divest Russian assets

The Future Fund is divesting $200 million in companies on the Russian stock exchange, implementing all sanctions imposed by Australia, the USA and the European Union. The Future Fund now holds no Russian sovereign debt or other fixed income and is winding down remaining exposure as market conditions allow.

The New South Wales government has also declared it is selling off its holdings in Russian assets. It is believed the NSW Generations Fund holds $75 million in Russian debts and equities.

Dixon Advisory clients transferred

After filing for voluntary administration in January, Dixon Advisory and Superannuation Services (DASS) is transferring clients to a replacement provider as per client wishes. At 22 February around 70 per cent had opted to move to Evans & Partners, 16 per cent want to go to an external provider, and 14 per cent had not yet provided guidance.

CommBank working to deal with financial abuse

Commonwealth Bank is launching a huge campaign to raise awareness of financial abuse as a form of family and domestic abuse. The campaign comes with the release of research by Deloitte, commissioned by CBA, revealing the enormity of the financial abuse issue in Australia. The report estimates the cost of victims is $5.7 billion with extra costs to the Australian economy of $5.2 billion.