Asset consultant Access Economics has opened an American office and plans to open a London office later this year.
In January Access Economics opened an office in New York, which is currently staffed with three people, and in the second half of this year plans to open a London office. Access Economics has 45 people in its investment advisory team and currently services four major clients – MTAA Super, Statewide Super, the Perth-based Westscheme and the recently-joined Australian Prime Super. It also does some consulting work for Cbus and State Super. David Chessell, co-founder and head of the investment advisory group, said the consultancy could probably accommodate two more decent sized clients with assets under management of ‘a couple of billion’ or more. Access Economic clients have a different strategic asset allocation to most of their superannuation fund peers with approximately 40 to 45 per cent in a target return portfolio of unlisted assets.
The $34 billion Brighter Super is set to shift a significant proportion of equities assets in MySuper from passive to active management. Chief investment officer Mark Rider says the move is possible because of the scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
