In this, managers’ fiduciary duties would be called on to moderate the money-making focus of investment banks. Such a relationship would give investment banks an opportunity to carve out a wider niche in the retirement savings market, Green added.

Gray also addressed super funds’ development of internal investment management divisions. “This would lead to a further blurring. You will find that the people managing the money will want to go after third-party business as well,” he said.

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