Tag: institutional

Vanguard to Close Most of Its Institutional Business in Australia; Focus on Retail | Investing News

SYDNEY (Reuters) – Vanguard Group Inc said on Wednesday it will close most of its business managing money for institutional investors and large pension funds in Australia and New Zealand, and focus on serving retail clients.

The U.S. investments giant, which has roughly A$164 billion ($118 billion) in assets under management in Australia, will stop offering customised products called segregated mandated accounts (SMA) to large institutional investors.

The exit comes as Australia’s pension funds, which make up the world’s third-largest pool of pension assets, have moved towards managing a larger portion of their investments internally to lower costs. This has intensified competition for investment mandates and forced the closures of several funds.

The Pennsylvania-headquartered manager will continue to offer some investment products that are “pooled” rather than customised, a spokeswoman said in an email.

It will work with existing SMA clients in Australia and New Zealand to ensure a smooth

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BNY Mellon Wealth Management names Heidi Simpson-Sandoval as Institutional Senior Client Strategist in Los Angeles, CA

LOS ANGELES, Sept. 22, 2020 /PRNewswire/ — BNY Mellon Wealth Management has appointed Heidi Simpson-Sandoval as Institutional Senior Client Strategist, based in Los Angeles. She reports directly to Los Angeles Regional President, Steve Kutz.

In this role, Heidi will serve West Coast institutional investors  such as endowments, foundations, non-profit institutions, retirement plans, private wealth, and family offices  seeking Outsourced Chief Investment Officer (OCIO) and investment advisory services. Leveraging the BNY Mellon Investor Solutions capability, Heidi will deliver comprehensive financial solutions, including investment management and consulting, asset allocation, manager research and selection, custody, and customized reporting and analytics expertise, to support clients’ investment management objectives and financial goals. 

With over 25 years of experience in the financial services industry, Heidi returns to BNY Mellon after spending four years at Northern Trust as Senior Vice President, Regional Director. There, she was responsible for OCIO sales to non-profit

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ADNOC completes $1 billion institutional placement for distribution business

DUBAI (Reuters) – State-run Abu Dhabi National Oil Company (ADNOC) said on Monday it had completed a placement to institutional investors of 10% in its subsidiary ADNOC Distribution’s ADNOCDIST.AD total share capital, or 1.25 billion shares, valued at $1 billion.

FILE PHOTO: A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. REUTERS/Christopher Pike/File Photo

The placement will increase ADNOC Distribution’s free float to 20%, and contribute to improved liquidity of the company, ADNOC said in a statement. ADNOC will retain an 80% strategic stake in ADNOC Distribution and continues to see strong growth potential in the company, it added.

The transaction represents “the largest block placement of a publicly listed” company in the Gulf region and “leverages significant investor demand for ADNOC Distribution shares”, ADNOC said.

In 2017, ADNOC listed 10% of ADNOC Distribution, the largest operator of petrol stations and convenience stores in

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