MAGELLAN FINANCIAL GROUP ORD
ETFs surge as passive investment overtakes active management in Australia
One of the big trends in Australia – and the rest of the world – has been the triumph of passive investment vehicles such as exchange traded funds over the traditional fund managers and their star stock pickers. In Australia ASX figures show that ETF investment hit an amazing $200 billion towards the end of […]
GrainCorp’s exports face delays, Mineral Resources opens off-market takeover bid for Norwest Energy and Magellan shares plummet
Agriculture giant GrainCorp (ASX: GNC) has confirmed export delays caused by rail and road bottlenecks as countries including China try to secure food supply from one of Australia’s most successful harvests. Last week the giant reached the 10 million tonne milestone for grain delivered into its east coast receival network and insisted there is more […]
Banks respond to RBA rate rise, Syrah’s operations halted and AGL confirms Latrobe Valley coal power outage extension
Australia’s major banks have taken a major step in responding to Tuesday’s Reserve Bank interest rate rise through increasing mortgage rates. The RBA announced the official cash rate will rise 50 basis points from 0.35% to 0.85%, making it the most significant hike in over two decades. Commonwealth Bank (ASX: CBA) and Westpac (ASX: WBC) […]
Magellan appoints new CEO, TPG sells mobile towers and Orica boss raises fears over energy security
Magellan Financial Group (ASX: MFG) has announced the appointment of a new chief executive officer in David George, six months on from Brett Cairns deciding to walk away from the job. Magellan chairman Hamish McLennan is full of praise for Mr George, saying he has an “outstanding investment management pedigree”. “The board was unanimous in […]