Macquarie upgrades forecast
Improved trading conditions and the lower Australian dollar have seen Macquarie Group to upgrade its results forecast.
The group announced to the Australian Securities Exchange (ASX) today it now expected the Group's result for the full year ending 31 March to be up between 10 and 20 per cent, subject to the completion rate of transactions and the conduct of period end review.
The company said the short term outlook remained subject to a range of uncertainties including market conditions, the impact of foreign exchange, the cost of its continued conservative approach to funding and capital and potential regulatory changes and tax uncertainties.
Recommended for you
Global asset manager BlackRock has identified bringing private markets to the wealth channel as a key business area for the firm that could generate US$500 million in revenue in the future.
Flows into cash and fixed income ETFs soared in May, rising from $366 million in April to more than $1.3 billion, data from Betashares shows.
Quinbrook Infrastructure Partners has promoted its Australian head to the role of chief executive of the global investment manager.
UK-based fund manager Royal London Asset Management has appointed a Sydney-based head of regional sales as it embarks on a multiyear plan to expand its presence internationally.
