The emergence of DeepSeek, a Chinese artificial intelligence (AI) start-up that claims to have built an advanced large language model in just two months for under US$6 million, sent shockwaves through the AI world and cratered US tech stocks.
Magellan has announced a raft of executive changes including the departure of head of investments, Gerald Stack, after 18 years and a second appointment from Maple-Brown Abbott.
Minister for Financial Services, Stephen Jones, has announced he will be retiring at the upcoming federal election.
The widespread use of alternatives could lead to erosion of the very elements that make them alternatives, according to EY, as fund managers make them more palatable to retail clients.
Franklin Templeton is to get rid of its Martin Currie branding and fold them into the wider group under ClearBridge Investments and Franklin Equity Group.
Deal values for APAC asset and wealth management companies surged 76 per cent in 2024 to almost $100 billion, according to PwC, while three factors are driving growth for the year ahead.
Morningstar research of seven active Australian asset managers expects them to see client redemptions averaging 3.1 per cent of their FUM per annum through to FY29, with two forecast to lose more than 10 per cent.
Two Australian asset managers – K2 Asset Management and East Coast Capital Management – have each welcomed a female chief executive to lead the respective firms.
Managed investment platform DomaCom has strengthened its leadership capability with a flurry of executive hires and internal promotions, including a new CFO.
