Maybe, people had little or no reason to shift super funds up until the late 1990s when it became easier to do so. And then we entered the period of disengagement. Now, in 2009, we have the dual impact of the new period of engagement coupled with higher account balances and recent performance problems. The analogy with bank accounts may not be all that strong, either. From a customer’s viewpoint, banks just give a service, which is difficult to measure, and a rate of interest which is not a lot different from their competitors. Super funds, on the other hand, produce an easily comparable investment performance figure (at a less-easily comparable level of risk) with a much greater dispersion between top and bottom.
4 September 2009 01:38
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Opinion
The on- and off-stage antics at the extravagant Milken Global Conference in Los Angeles tell us a lot about where institutional capital is right on the money – and where it is putting its head in the sand. And while the event retains the extraordinary intellectual and financial firepower that has always been its signature, something has shifted. The absences are as instructive as what's on the program.
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