Sensible, practical and pragmatic
In recent years AXA Investment Managers has positioned itself to take advantage of the demographic shift underway that will result in an exponential growth in demand for post-retirement solutions as baby boomers retire.
Hurt predicts that there will be less than a handful of managers who will capture a meaningful slice of this potential growth area.
“Australia has had a love affair with boutiques for many years but I would see that in 10 years’ time the asset managers who will succeed will have done two things,” Hurt says.
“Firstly, they will be one of the three or four players who have picked up the majority of assets in the post-retirement world. That won’t be about designing the perfect solution but something that is sensible, practical and pragmatic.
“Secondly, as part of that solution, these asset managers will offer credible multi-asset solutions on a bespoke basis.”