Major funds mull master custody’s future

Three of Australia’s largest superannuation funds will discuss their evolving relationship with custodians at the 14th Annual Investment Administration Conference, coming up on February 15.


Representing over $100 billion under management between them, senior operations executives from First State Super, AustralianSuper and QSuper – respectively Graeme Arnott, Peter Curtis and Kyle Ringrose – will discuss how master custody has come of age in Australia.

The relationship between custody banks and super funds has blossomed from a two-dimensional one, based on safekeeping and record-keeping, to a true partnership which has kept time with the major funds’ emergence as asset management entities in their own right. The master custody panel, chaired by National Asset Servicing chief Leigh Watson, will examine what’s next.

Another highlight of the 14th Annual Investment Administration Conference, presented by the Australian Custodial Services Association in partnership with Investment Magazine, will be a look at global regulation and its impact on Australia. In this session, to be chaired by consulting veteran Drew Vaughan, participannts including ASIC senior executive leader Gerard Fitzpatrick will assess the local impact of regimes such as Basel III – happily, a set of regulations which will make custody and its attendant supplies of cash far more important in the strategies of major banks.

The conference will also feature investment consultant Jonathan Pain, author of the Pain Report, giving his always entertaining macroeconomic view.

Click here to view the program.

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Canada establishes new SWF amidst global push for nation-building investment

Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.

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