T. Rowe Price has recruited Viral Patel for a new role in the company’s Australian equities team, while plans are already underway to hire another three equity analysts for the Sydney office.
Patel, who was a research analyst with Alliance Bernstein's Sydney office, has been appointed to the new role of associate director of research for Australia.
He will report to portfolio manager, Randal Jenneke, who was hired last June with the task of piecing together the equity investment management and research team.
The company stated that enhancing its local investment capability would enable it to launch a differentiated Australian strategy for local and regional investors.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.