Victoria’s local government super fund, Vision Super, has met with consultants hopeful of unseating Frontier Investment Consulting, whose latest contract in its long-running relationship with the $4 billion fund expired last month.
Rob Brooks, chief executive of the $4 billion fund, confirmed an external asset consultant tender was underway – “as with any normal governance process when a major appointment has come to the end of its term”. However, he declined to comment on which consultants were being considered, or which one is likely to get the tick. “We have invited a number of suitable candidates to lodge their interest. We haven’t taken a decision yet,” Brooks said. I&T News understands meetings with both JANA and Watson Wyatt were held last week. Brooks said a final decision would be made at the end of August at the next Vision Super board meeting.
Hedge Funds
China consumption story trumps US trade concerns
This year’s single-best trade was Chinese mid-cap semiconductor and tech stocks, according to UBS O’Connor's Kevin Russell. This illustrates how China’s domestic consumption economy allows it to combat any trade wars with the US.
Hedge Funds
Alternative strategies in the eye of the storm: Sunsuper’s Bruce Tomlinson
While Sunsuper's access to cash and public market meant its alternatives allocations weren't tapped for liquidity to facilitate early release payments, Tomlinson said he could take advantage of some more liquid ‘hedge fund-type’ investments during tumbling markets.
Hedge Funds
Consultants dial up transparency and culture assessment of alternatives
“Everyone loves to hear about culture now,” according to Willis Towers Watson's Sara Rejal, who noted during a panel discussion at the Absolute Returns Conference Digital 2020 conference on Wednesday that funds are interested in a broader due diligence particularly with its hedge fund and alternative strategy partners.
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