Lend Lease outsources
Lend Lease Investment Management (LLIM) is to outsource its Australian equities management capabilities, in a move designed to cement its manager of managers approach.
Lend Lease Investment Management (LLIM) is to outsource its Australian equities management capabilities, in a move designed to cement its manager of managers approach.
The group has handed over the management of its quantitative equities portfolio to State Street Global Advisors (SSgA). The LLIM quant equities team of three will join SSgA as a result.
The group is also considering outsourcing its other Australian equities team, Lend Lease Active. However, a spokesperson for LLIM says there is no timeframe for this to take place.
“The important thing is not the timing, it’s the people and the investment style has to be right for us,” the spokesperson says.
The move is part of LLIM’s ongoing strategy to reposition itself as a manager of managers. This strategy has included the rebadging its retail offerings through MasterKey, launched last year.
Chief executive of LLIM Bruce Coleman says his group’s opportunities now lie “in utilising the strengths of our multi-manager capabilities”.
Recommended for you
Marking off its first year of operation, Perth-based advice firm Leeuwin Wealth is now looking to strengthen its position in the WA market, targeting organic growth and a strong regional presence.
Financial services software firm Iress has unveiled a new business efficiency program with the aim of permanently lifting its profit margin as the business enters a leaner, growth-focused phase.
AUSIEX has revealed the top traded stocks for October, noting significant jumps in advised investor trading, while ETFs also reported higher activity.
The Financial Advice Association Australia has implored advisers to reevaluate their exposure to AML/CTF obligations ahead of new reforms that will expand their compliance requirements significantly.
