All this requires better fund governance, which really means greater internal resources, with delegation to staff by a board which concentrates on long-term strategy and oversight of member interests.
01/08/2008
strategy, investing, course, balances, crises, wyatt, bottoming, watson, returns, defined, liquidity, crisis
Opinion
There is broad consensus in industry and Canberra that the collapses of the Shield and First Guardian master funds – and failures that led to them – demand a regulatory response. But getting that response wrong could create an uneven playing field in the industry and some counterproductive consumer outcomes.
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