Amanda
Institutional investors would be looking at the management of the company, particularly chairman and managing director John Gay, he said. So, who are these institutional investors?
Gunns shares fall to an eight-year low
BY JULIAN BURGESS
19/08/2008 9:34:00 AM
SHARES in Launceston-based forestry company Gunns hit a low of $1.90 yesterday, less than half their high of $3.93 a year ago.
The stock opened at $2.09 for the first full day of trading since the company provided a market update to the Australian Stock Exchange on Friday, which predicted an earnings decline for the 2007-08 financial year.
Yesterday’s closing price of $1.93 a share was an eight-year low for the company.
Shadforths private client adviser Chris Elliott said that the late warning on the earnings drop would not have pleased the market.
And
Institutional investors would be looking at the management of the company, particularly chairman and managing director John Gay, he said.
http://northerntasmania.yourguide.com.au/news/local/news/economy-business-it-finance/gunns-shares-fall-on-earnings-yesterday39s-closing-price-of-193-represents-an-eightyear-low/1247577.aspx
So, who are these institutional investors?
http://au.finance.yahoo.com/q/ast?s=GNS.AX
Promina Group Ltd
Promina Group is an insurance and financial services organisation that traces its operations back to 1833 in Australia and 1878 in New Zealand. The core of the Promina Group was formed in 1992 with the merger of Royal and SunAlliance. The Company was renamed Promina Group and listed on the Australian Stock Exchange in 2003. Promina’s brands include AAMI, Australian Pensioners Insurance Agency, RAC Insurance and Vero. AAMI, Vero and RAC Insurance performed far better than industry averages for customer disputes in 2005.
The URL of this page is http://www.austethical.com.au/ethical_investment/ethical_company_profiles2/all_ethical_profiles/plantronics_inc2 ________________________________________Australian Ethical Investment Ltd.
BUT
On 20 March 2007 Suncorp’s merger with the Promina Group was completed, bringing the number of customers to over 7 million, and lifting the total assets to $84.9 billion across Australia and New Zealand.
Following the merger with Promina, Suncorp now serves more than 6 million general insurance customers throughout Australia and New Zealand and provides personal and specialised insurances through well known brands such as AAMI, Apia (Australian Pensioners Insurance Agency), Shannons and Just Car in Australia and Vero in New Zealand.
http://www.suncorp.com.au/suncorp/about/history.aspx
Does this mean that Promina, as stated on the Institutional Investors table, is in fact Suncorp? Quite a number of the 7 million customers now giving Suncorp their insurance, superannuation and investment business would perhaps be surprised, were this to be the case.
See the groups associated with Suncorp via the following links:
http://www.suncorp.com.au/suncorp/about/history.aspx
http://www.suncorp.com.au/suncorp/about/corporate_profile/insurance.aspx
http://www.suncorp.com.au/suncorp/about/corporate_profile/wealth_management.aspx
http://www.suncorp.com.au/suncorp/about/corporate_profile/investment_management.aspx
And then there’s Concord and, could it be, Macquarie?
Concord joins Macquarie Professional Series
21 February 2006
Macquarie Adviser Services today launched the Concord Australian Equity Fund, the first Australian equity fund available in the Macquarie Professional Series.
The Concord Australian Equity Fund is being offered in conjunction with Concord Capital, a growth-oriented boutique Australian equities manager, which is 100 per cent owned by its employees.
The Head of Distribution for the Macquarie Professional Series, Peter Shepherd, said the inclusion of Concord in the Macquarie Professional Series complemented the other excellent international funds that had already experienced a great deal of success.
Since its launch in March 2005 the Macquarie Professional Series has attracted in excess of $600 million in funds with more than $300 million in the Morgan Stanley Global Franchise Fund, $250 million in the Walter Scott Global Equity Fund and $60 million market cap in the recently listed Winton Global Opportunities Trust.
Mr Shepherd said the success of the Macquarie Professional Series was due to the quality of the fund manager partners, their strong long-term performance track records and their ability to distinguish themselves in a crowded investment market.
“The Macquarie Professional Series was developed after consultation with financial advisers who identified the need for good quality investment managers with strong conviction and whose portfolios were not necessarily constrained by benchmarks,” Mr Shepherd said.
“The latest inclusion in the series, Concord Capital, has an investment philosophy that is based on the belief that a committed team of experienced people with a research driven process aimed at identifying superior businesses should result in above market performance.”
“Concord’s investment strategy is predominantly a growth-oriented, return seeking strategy that results in a diversified yet concentrated portfolio of Australian stocks.
“They are “pure” stockpickers. This means they focus on selecting quality businesses, which operate in industries which have a good competitive outlook.
“This concentrated stockpicking style, with an emphasis on growth, and the track-record of Concord Capital’s investment strategy meant they are a welcome inclusion in the Macquarie Professional Series.”
Chairman of Concord Capital, Richard Douglas, said Concord Capital was delighted to be joining the Macquarie Professional Series and making Concord Capital’s investment strategy available to Australian retail investors for the first time on a stand-alone basis.
“We agreed to partner with Macquarie because of its outstanding reputation, its knowledge of the retail market and the strength and depth of its distribution team,” Mr Douglas said.
The distribution of Concord Capital’s investment strategy to the adviser market is exclusive to Macquarie Adviser Services. Concord Capital has not previously been offered to retail investors but has developed a very strong reputation in the institutional investment market since its inception in 2000.
Mr Shepherd said Concord had a firm commitment to limiting its funds under management in order to maintain performance objectives, and that the Concord Australian Equity Fund has been allocated a set percentage of Concord’s investment capacity (on the basis of no less than $750 million).
Concord Capital’s investment process received an “A” rating from van Eyk following their last review of Australian equity managers. van Eyk has also elected to include the fund in their the Blueprint Australian equity offering.
He said the minimum investment was $50,000, or less if invested via wrap or master trust platforms.
For further information, please telephone:
Peter Lawton
Head Professional Series Distribution
© 2008 Macquarie Bank Limited ABN 46 008 583 542
http://www.macquarie.com.au/au/about_macquarie/media_centre/20060221b.htm
