News Round Up
Sharesight launches in Australia; Absolute return index showing strong performance; Super fund performs well on global responsible investing
Monday, November 24th 2008, 12:31PM
Sharesight launches in AustraliaSharesight has launched its service in Australia, having successfully established itself in the New Zealand market.
Six million Australians invest directly in shares and online discount brokers are the preferred method of buying and selling shares, which “places [Australians] firmly in Sharesight’s target market because they are familiar with online services but do not have access to a comprehensive portfolio management service,” managing director Tony Ryburn says.
The company has also developed an Australian version of its popular tax reports, which greatly minimise the time and cost of preparing tax returns.
Absolute return index showing strong performance
The Ernst and Young New Zealand Absolute return index surged to its second highest level in October since inception, gaining 2.38% for the month, putting year-to-date performance up 15.8% and year-on-year performance up 18.07%.
Profitable performance from managers with positive exposure to the serial correlation of market returns and implied volatility contributed to a substantial portion of the month’s gain.
The index is based on a concept of simple averages and was developed to raise both offshore and domestic awareness of the New Zealand industry and to highlight the competence of New Zealand managers.
Super fund performs well on global responsible investing
The Guardians of New Zealand Superannuation say it is performing well against the United Nations principles for responsible investment (UNPRI).
“The annual review shows we are one of the top performing funds in the region and in the upper half or quartile globally across the majority of principles,” Guardians’ head of responsible investment Anne-Maree O’Connor says.
The Guardians also announced an increase in resources dedicated to responsible investment.
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