Advance, Colonial strike gold
Advance Funds Management and Colonial First State picked up the majority of the funds management gongs at last night’s Personal Investor Awards at Sydney’s ANA Hotel.
Advance won the international and local share fund awards for its largely outsourced funds management business. The bulk of Advance’s international funds are managed by Morgan Stanley while its domestic equities funds are managed by Maple-Brown Abbott. Both the local and international share funds benefited from the strong run in value stocks over the past year.
Colonial First State took out the balanced, listed property and allocated pension awards, adding to its swag picked up at least year’s awards.
In the new life insurance awards, MLC was victorious in the life insurance division; AXA bagged the annuity gong; while AMP won the disability policy award.
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