Business Services Industry
BT's performance still lousy.
Australasian Business Intelligence, June, 2002
ABIX via COMTEX) -- Australian fund manager, BT Financial Group, posted another set of disappointing investment returns in May 2002. As a result of poor returns, almost $A4bn in funds outflow, and the appointment of US-based Principal as head of global asset management, speculation has intensified that CEO, Ian Martin, is about to leave the company after three years at the helm. According to the latest survey from Intech Asset Consulting, BT's Australian equities fund posted a return of 0.08 in May 2002, but a negative return of 0.77 for the year to May. BT has been appearing regularly in the lowest quartile of the Intech survey since 1999. Intech blamed BT's previous investment style of taking stakes in risky stocks, including One.Tel. However, BT is now more...
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