Lennox Capital joins red-hot micro-cap brigade
- Sydney-based Lennox Capital Partners, which is backed by Challenger and run by a pair of former Macquarie Investment Management stockpickers, is the latest to join the micro-cap brigade, launching a new fund this month.
- Lennox Capital portfolio manager James Dougherty says there are significant synergies in running small-cap and micro-cap funds side-by-side.
- Lennox Capital co-manager Liam Donohue says the average size of stocks is $350 million, while the average in its small-caps fund – which is up 26.4 per cent net of fees since inception last April – and Australia's small ordinaries index is closer to $1.4 billion.
- Ben Griffiths, co-founder of successful small-caps investor Eley Griffiths Group, launched his micro-cap fund last March to coincide with investor appetite in stocks outside the top 200.
- Mr Wilson says his $200 million-odd micro-cap fund gets the benefit of being part of a larger funds management group, including heightened access to companies and deals.
WisdomTree shares pop on report of JP Morgan interest in buying an ETF firm
- Shares of WisdomTree Investments jumped more than 6 percent Friday after reports that JP Morgan Chase is shopping for an exchange-traded fund firm.
- The U.S. bank's asset-management unit is looking to up its presence in the growing $3 trillion-plus ETF market, Bloomberg reported, citing two people who asked not to be identified.
- The bank spoke with the U.S. businesses of ETF Securities, and had talks with Global X, which was recently bought by South Korea's Mirae Asset Management, according to the report.
- WisdomTree stock closed at $10.41 Friday following the report, and is up more than 18 percent year over year.
- More than $23 billion of investor money entered the market in July, putting ETFs in the U.S. over the $3 trillion mark in assets under management, according to ETF.com.
- Invesco, the world's fourth largest ETF manager, bought Guggenheim's ETF business for $1.2 billion in September.
Carlyle's Three Founders Take Home $193 Million in 2017 Payouts
- Carlyle Group LP’s David Rubenstein, Bill Conway and Dan D’Aniello pocketed $193 million in combined payouts in 2017, down from $212 million the previous year.
- Rubenstein also got $66.3 million in dividends based on his stock ownership in the asset manager, and Conway and D’Aniello received $62.7 million each in dividends.
- The founders of Carlyle and Apollo Global Management LLC, unlike peers at Blackstone Group LP and KKR & Co., don’t receive carried interest, or a cut of deal profits.
- Apollo co-founder and Chief Executive Officer Leon Black took home $191.3 million in 2017, almost all of which was stock dividends, according to the firm’s 10-K filed Monday.
- The Carlyle executives’ payouts don’t include distributions from the firms’ funds in which they’re personally invested.
- During 2017, the firm said, Rubenstein put $120.1 million into Carlyle funds and deals, Conway invested $161.8 million and D’Aniello added $123.5 million.
Business responds to Malcolm's Turnbull's sex ban
- Australian businesses are not warming up to the Prime Minister's consensual sex ban, saying office romances are inevitable.
- Maurice Blackburn employment lawyer Josh Bornstein said there was no problem with consensual relationships at work, even if it involves a subordinate.
- He said consensual relationships were "perfectly ok at work", even if it involves a relationship between a manager and a direct report.
- But the consensual sex ban is still at odds with Australian practice which has focused on managing potential conflicts of interest through disclosure rather than outright ban on consensual relationships.
- Under the Australian Public Service Code of Conduct, public servants are not banned from having office romances, but they may be required to disclose personal relationships if they could influence their actions.
- Meanwhile, the University of Sydney deputy vice-chancellor Shane Houston was sacked last year amid rumours that he was having a relationship with one of his direct reports.
These 'Best Companies to Work For' for Are Hiring for More Than 110,000 Jobs
- Looking for a company where you can bring your dog to work, take four months of parental leave, or land a $100,000 bonus?
- Good news, Fortune’s 100 Best Companies to Work For are looking for new employees to join their teams.
- The 2018 list includes 160,288 job openings across 100 companies.
- Current job openings: 6,790 HQ: Lakeland, Florida Second largest location: Atlanta, Georgia Most common salaried job: Store manager Jobs website Tips from the recruiter: “We are looking for candidates who have a servant’s heart—willing to do the tasks they’ve been hired to do—and perpetuate the Publix culture by exceeding the needs of our customers,” says manager of talent acquisition Marcy Hamrick.
Automation could make the modern workforce more ‘human’ — here’s how
- According to Smartsheet's Automation survey, 40% of workers spend more than a quarter of the work week on manual, repetitive tasks.
- What AI and automation can do is help reduce our workload of repetitive, mundane tasks, allowing us to focus on the human portion of work that requires our brains to work more effectively and creatively.
- For example, if you're an HR manager, you probably spend a large portion of your workday doing things that could be automated, like qualifying job candidates, sending follow-up emails, and answering onboarding questions.
- Suppose AI-enabled automation takes over these repetitive tasks — does this mean you'll need to say goodbye to your current job?
- Some immediate benefits of automation in the workplace can include gains in customer satisfaction, higher employee productivity, increased efficiency, and faster time to market.