The $12 billion First State Super Scheme NSW (FSS) is in the throes of an asset consulting review.
The review is the accumulation fund’s first since it replaced long-standing advisor Mercer Investment Consulting almost three years ago, in favour of JANA Investment Advisers. It is FSS policy to review external service providers on a regular basis, in the case of asset consultants at least every three years. The service team JANA deploys to liaise with FSS includes three of its senior consultants – managing director Ken Marshman, John Coombe and Ian Patrick. The review is understood to be receiving assistance from Chant West Financial Services, which is understood to be preparing a report for the FSS board based on submissions from most of the major advisory asset consultants. Chief executive of the 470,000-member fund, Michael Dwyer, was unavailable for comment.
15 May 2007 00:00
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Investments
Ryan Riedler, head of ASX core strategy, Australian equities at Cbus, says the fund will look to generate alpha locally through engagement and that internalisation will help it strengthen its connection with other market participants, as well as its brokers and service providers.
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