Funds managing assets in-house should report to their members on how these assets have performed versus properly constructed market based benchmarks, according to an advisor at PwC. David St. John, urged an audience of 37 institutional investors to raise their standards of reporting voluntarily, but said that if this did not happen then regulatory intervention … Read more
Investors’ perceptions of China are not keeping up with the facts, according to leading economist and a keen observer of the world’s second largest economy. Olga Bitel, the Chicago-based economist at William Blair, contests the accuracy of widespread gloomier economic forecasts for China, particularly in light of bad loans and the decline in purchases of … Read more
Defensive assets should be determined on an individual asset basis, rather than on an asset class level, delegates heard at the Conexus Financial Fiduciary Investors Symposium. Paul Caskey, chief investment officer of the South Australian work injury insurance scheme ReturnToWorkSA, presented a new formula for helping to determine which funds could be included in the … Read more
With the superannuation system projected to reach 200 per cent of GDP in the next 20 years capital will increasingly flow out of the country as super funds seek investment opportunities overseas, according to Deloitte. From a macroeconomic perspective this will compound the problems brought about by an ageing population, particularly as the old-age support … Read more
Analysis of QSuper’s membership data has provided evidence that the Association of Superannuation Funds of Australia’s (ASFA) benchmark of how much money people need for a comfortable retirement is not unreasonable. According to Dr Helen Johnson, data scientist at QSuper, the actual amounts people draw in retirement from account-based pensions are around the ASFA comfortable … Read more
The UN-backed Principles for Responsible Investment (PRI) is considering a seventh principle that will focus on broad financial system systemic risks. The six principles were written before the global financial crisis and are focused on environmental, social and governance (ESG) integration. Now, a decade after their creation, consideration of systemic risks is on the agenda and … Read more
The government is to enshrine the objective of superannuation in legislation. What would that wording look like? TOM GARCIA, chief executive of the AIST, has a suggestion. Imagine if an ASX-listed company was asked by its shareholders “What is your purpose?” and the response was “We are not sure”? Do you think the stock might … Read more
Stephen Dunne, the former chief executive of AMP Capital, is to become chair of the investment committee for the $31 billion construction workers industry fund Cbus. Dunne, who oversaw the development of AMP Capital to become a $156 billion funds management operation, will bring the expertise and know-how to help nurture the increasingly ambitious ideas … Read more
With its 10th birthday approaching, the Future Fund is entering its next incarnation complete with a new investment team structure. Investment Magazine spoke to Raphael Arndt, Stephen Gilmore and David Neal. When David Neal, the inaugural chief investment officer of the Future Fund, became its managing director on August 4 last year, his previous role was split … Read more
Dick Shearman, chair of NGS Super talks to Investment Magazine about investment governance, some niche impact investments – and how the fund is progressing without a chief investment officer. In 2013 the Australian Prudential Regulatory Authority (APRA) warned that trustees would no longer be able to excuse any unsuccessful investment decision by stating their consultant had advised them to do it. This … Read more
The long-term equity risk premium (ERP) has a much higher degree of volatility than established thinking holds to be true, according to new research by Drew, Walk & Co. It claims while the average ERP in Australia is around 6 per cent (though it has been below its long-term average since 1990) the wide distribution … Read more
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
