Costs for the compensation scheme are spiralling out of control, with the FAAA estimating another $4,165 will be added to every adviser’s CSLR bill – bringing the estimated total to $5,709 – if the funding model isn’t re-examined.
Real estate credit funds have firmed as an attractive source of alternative returns in the past few years. What matters, however, and what doesn’t, for these non-bank private credit lenders, has largely been left unexplored by investors. Â Â
Mirae bulks up to drive Australian expansion
Mirae Asset Global Investments, a global investment manager with over $280 billion in assets under management, has announced the appointment of Kris Walesby as the CEO for its Australian operations.
In addition to Walesby’s appointment, Oliver Reynolds also joins Mirae Asset Global Investments as the COO for the region.
Both these senior appointments are seen as investments in Mirae’s strategic decision to expand and grow its business in the booming Australian market.
Walesby joins Mirae Asset from ETF Securities, where he was previously CEO, responsible for building the business into one of Australia’s leading ETF providers.
Reynolds has extensive funds management experience across a range of asset managers and asset classes. He was most recently the CFO at Coolabah Capital.
Young Kim, head of global business at Mirae Asset Global Investments, welcomed Walesby and Reynolds to the Australian team.
“Combined with Kris’s deep knowledge and understanding of investment management sector and his successful track record in growing businesses and developing people, we look forward to his contribution towards strengthening the Australian business,” says Kim.
Walesby says he is excited and privileged to be appointed to the new leadership position at Mirae:
“My goal as CEO is to position the firm as the market-leading asset manager in Australia providing innovative investments. We want to be known by clients, and broader communities, for consistently providing the best-of-breed investment solutions. With the combination of Mirae Asset’s deep fund management expertise and the local knowledge of the existing team, we hope to create a strong Australian identity,” he adds.
The Australian business will continue to be supported by Don Gunawan as head of Australian business development. He will continue to oversee the distribution of Mirae Asset Global Investments Asia ex-Japan Equity Funds to Australian institutional and wholesale/retail investors.
