Another huge and seemingly immovable block on the road to a better system had been that the various administrators had such different processes. Then suddenly, last month, a rapprochement between AAS, Pillar Administration and Superpartners was announced and heralded as an agreement on a set of principles and protocols covering data and money flow for rollovers. Project manager of the alliance, industry veteran Robert Van Woerkom, says the pilot, to be working by June, was inspired by the Medicare clearing facility for SMEs and the banking system’s interconnected protocols. The three alliance partners’ statistics give them the clout to try to unite the sector: collectively they administer $173 billion for 12 million member accounts on behalf of 45 funds, collect more than $25 billion in contributions a year, and generate more than 45 million transactions annually. The 420,000 transfers annually between each other represent more than $4 billion. Van Woerkom says the alliance will be open to other administrators, such as Colonial First State, BT and Mercer, as well.
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.
Jessica SierSeptember 24, 2020
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.
Jessica SierSeptember 23, 2020
“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.
Matthew SmithSeptember 23, 2020