No comments on EBB for a while... maybe some p**sed off investors after the two nasty slides in Aug 06 and about same time this year??
I bought in this week based on strong broker reccommendations from UBS, Macquarie and Tricom. We'll see but the director buying is encouraging. Jeremy Reid in particular has bought over $1m in three separate transactions since end of Sept.
Everest Babcock & Brown wins $200 million investment mandate from Sunsuper
Following a global tender process, Everest Babcock & Brown (EBB), one of Australia’s leading absolute return investment managers, has been awarded a $200 million investment mandate to construct a tailored fund of absolute return funds for Sunsuper.
Sunsuper, established in 1987, is one of Australia’s largest superannuation funds with over $13 billion in assets and one million members.
EBB’s Chief Executive Officer, Jeremy Reid said “This is a significant milestone for EBB, being our first Australian institutional mandate. Sunsuper has been successful at delivering very competitive returns for its members over a long period of time and EBB has also achieved attractive risk-adjusted returns in what has been a challenging environment for investors.
We look forward to working closely with Sunsuper to help them enhance their members’ retirement savings.”
“We continue to see strong interest from Australian institutions for absolute return funds and look forward to further developing our institutional business.”
EBB must be starting to look pretty cheap. They have stated that they have no relationship with BNB other than BNB is a share holder.