This session looked at the implications of the performance test on the way super funds invest in equities. With the heavy consequences attached to performance test failure, there is a large risk that funds allow the performance test to dominate how they manage portfolios, potentially to the detriment of member outcomes. This session looked at potential unintended consequences including shortened time horizons, increased turnover and more passive investing.
Greg Barnes, Head of public markets, Sunsuper
Simon Hudson, Head of equities, UniSuper
Damian Lillicrap, Head of investment strategy, QSuper
Moderator: David Bell, Executive director, The Conexus Institute