MLC charts a new course for growth

Article Abstract:

The Australian financial services company MLC has successful navigated its transition into mutual funds and now ranks number three among mutual fund management companies. MLC now has A$25 billion under management, and MLC CEO David Clarke believes his company can double that amount. In order to boost its mutual fund management operations, MLC has struck an alliance with Capital International in the US.

Life Insurance, Direct Life Insurance Carriers, Financial services industry, Financial services

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The banks' new battleground

Article Abstract:

Australia's fund management market is intensely competitive due to the variety of bank strategies and private-sector fund custody. By turning over fund custody to the private sector, the market can expand indefinitely, attracting niche, foreign and major life participants. Compulsory superannuation adds to the market's draw. Potential losses are hedged by derivative arrangements.

Investment Companies, Open-End Investment Funds

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DIY-super minder goes national after surviving corporate upheaval

Article Abstract:

Austrust, the Australian mutual fund management company, consists of Austrust Ltd, which used to be known as Elders Trustee, and Executor Trustee Australia. Austrust acquired Executor Trustee in the late 1980s in a government brokered deal, itself was acquired in a government brokered deal in 1996 by Tower Financial Services Group.

Mergers, acquisitions and divestments, Austrust, Tower Financial Services Group

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