Assirt slams Merrill’s offshore capabilities
Merrill Lynch Investment Managers’ (MLIM) international performance has been slammed byAssirt, with the research house branding the group’s international shares capabilities as being weak, while stating its Global Titans fund was not at investment grade level.
While MLIM’s capability in managing Australian equities continues to be assessed as very strong, with all of its Australian equity products awarded five stars, the group’s Global Titans funds was only rated two stars, or non-investment grade, according to an Assirt report.
In an attempt to better its future performance, in the past nine months MLIM’s new chief investment officer Ian Rowley has introduced initiatives to improve discipline in stock rankings and portfolio construction. While Assirt says it welcomes these developments, the research house believes further cohesiveness is required before the process can be considered competent.
Meanwhile, Assirt has praised the investment manager’s determination to regain lost ground in global performance, with the promotion of Bob Doll to the position of president and chief investment officer of Merrill Lynch Investment Managers globally. Assirt says Doll’s promotion highlights the group’s emphasis on investment management.
The research house also gave credit to MLIM for its successful presence in its Australian operation. Assirt says the leadership of the group’s managing director Maurice O’Shannassy, is a strong move.
Assirt also praised MLIM’s back office management, which changed its pricing of funds in May this year to rectify previous mismatching of pricing, issues with tracking error calculations and ensure compliance with industry standards.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
