O’Neill Donnellon says: “Bernie Madoff could never have taken a managed account and did what he did. With our system, there is not one day that goes by that a trade is not settled. The assets are the client’s.” He says that most SMAs in the hedge fund space have been built by investment banks to launch their structured products. These are not necessarily in the best interest of clients.
5 August 2009 05:32
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Administration & fees
Payday super changes have been touted as addressing the issue of unpaid super and as putting members’ contributions to work sooner, earning them more in the long run. But the member benefits will only become real if every link in the chain between the employer and the member’s account works as it must, and there’s still a few yet to be joined up.
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