10 May 2010 13:00
Brooks said it was important that funds “planned for tomorrow” and articulated their futures.
“We don’t want a regulator coming to us in five years time and saying ‘Why haven’t you done anything [in regards to improving scale]? Couldn’t you see the way the industry was heading?'”
Danielle Press deputy CEO of Pooled Super, Equipsuper's chief investment officer Michael Strachan, National Asset Servicing master custodian, Quadrant Super, Vision Super, Rob Brooks, Pooled Super Pty Ltd
With the super industry facing into headwinds that raise the floor on minimum scale and increase complexity, the pressure towards further consolidation should ultimately prove unstoppable, and a natural end-point could be ten mega-funds over $200 billion in size managing more than 90 per cent of system assets. The path to that destination, however, could be bumpy.
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