In June, Stephen van Eyk sold his stake in ratings house van Eyk Research to a New Zealand investment firm for $4 million. The transaction saw the ratings house sell close to a third of the company's shares to Perpetual Asset Management, which has no connection with Australian fund manager Perpetual Trustees Australia, but is part of the Christchurch-based Pyne Gould Corporation, in which businessman George Kerr is the largest sole shareholder.
In October, Singapore Exchange's (SGX) proposed an $8.4 billion takeover of its Australian counterpart, which would make the combined entity the Asia-Pacific region's premier exchange-traded funds (ETF) hub. Together the SGX and Australian Securities Exchange would offer nearly 2800 securities spanning ETFs, stocks, fixed income, American depository receipts, exchange-traded notes and Singapore government securities, according to the World Federation of Exchanges.
October also saw US private equity firm Kohlberg Kravis Roberts & Co offer $1.75 billion for Perpetual's Private Wealth unit.
In November, PIH announced it had moved a step closer in its proposed merger with Centrepoint Alliance after company shareholders voted in favour of the deal. Earlier this month, the Federal Court cleared the way for the deal between PIH and Centrepoint by approving the parties scheme of agreement.
Meanwhile, Suncorp Group sold off its funds management unit, Tyndall Investments Australia & New Zealand, in November to Japan's Nikko Asset Management for up to $128.5 million. Nikko confirmed Craig Hobart as managing director of Tyndall Investments.
