Yarra Capital to buy Nikko Asset Management’s Australian business
Bloomberg
Melbourne-based Yarra Capital s purchase of Nikko s Australian business will create one of the nation s largest independent fund managers.
Yarra Capital Management, a Melbourne-based equity and fixed-income boutique, will acquire Nikko Asset Management s Australian business.
Combining Yarra s roughly A$8 billion ($6.3 billion) in assets under management with Nikko s A$12 billion business will create one of Australia s largest independent fund managers with AUM of about A$20 billion, Dion Hershan, Yarra s managing director and head of Australian equities, said Tuesday in a joint news release.
Under the merger Nikko Asset Management will get a 20% stake in Yarra Capital Management, the news release said.
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at 12:00 pm on March 2, 2021 | 12 comments
As expected, Australia’s business lobby and wealthy elite are growing more vocal demanding the federal government open Australia’s international border to migrants.
These groups like mass immigration for three main reasons:
It provides a bigger pool of available workers to recruit, thereby increasing competition in the labour market, lowering worker bargaining power, and holding down wage costs;
It expands Australia’s consumer base, providing businesses with more opportunities to sell their goods and services; and
It places upward pressure on land values and property prices, making the owners of capital richer.
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The embattled state insurer’s senior ranks are thinning quickly, with three executives collectively taking almost $1.2 million in entitlements as they go.