Mark Tinker, head of Axa Framlington Asia, gave delegates many persuasive reasons why they should not get caught up in the widespread fears of a Chinese meltdown and the impact of that on the global economy. Here is a summary of a paper he provided to delegates, in which he referred to the doubters as … Read more
AustralianSuper has achieved costs of only 9 basis points on its internally run domestic equities portfolio, two years after it first launched. In a presentation on internal management at AIST ASI on the Gold Coast, Peter Curtis, head of investment operations at the $90 billion fund, told how this figure would decrease once the global … Read more
Remuneration of CEOs in the ASX200, based on the estimates from the end of year financial reports, is underreported by millions of dollars. Australia’s 10 highest-paid chief executives collectively reaped $70 million more than reported in their companies’ FY14 annual reports, according to new research from the Australian Council of Superannuation Investors (ACSI). ACSI’s annual … Read more
The Future Fund has its highest cash weighting since the first years of its existence, but claims it is not highly defensive as the allocation has been made to offset the risk in other areas as part of its one-portfolio strategy. David Neal, chief executive of the Future Fund, said the increase in the cash … Read more
The Government’s abolition of the Low Income Super Contribution (LISC) is the single most retrograde and regrettable policy decision since the establishment of superannuation and will help cement the gender gap in savings if reforms to tax concessions do not occur, the Shadow Treasurer Chris Bowen said. The LISC was setup by the previous Labor … Read more
Funding the supply of housing stock to improve affordability for members who risk never being able to buy property is being weighed up by super funds such as Cbus. The proposal has been prompted by state governments contacting super funds about their interest in investing in social housing. David Atkin, chief executive of Cbus, said … Read more
Systematic trading that encouraged high volatility over the past week has benefited stock pickers, according to John Pearce, chief investment officer of UniSuper. The Dow Jones Industrial Average index fell by 3.56 per cent on August 24, one of its largest ever one day falls creating stock picking opportunities for funds. Pearce said the falls … Read more
Funds experienced a higher than usual number of members switching out of growth assets in the market turmoil of the past few weeks, but nowhere near as high as the switching levels of 2008. Better communications have been attributed for the lower levels of switching as US markets experienced one of their largest ever one … Read more
The position of chief investment officer at AMIST Super was made redundant on Friday after an internal review of business needs. Megan Pham was chief investment officer at AMIST Super for five years, joining the super fund in 2010 after working at NGS Super as the assistant investment officer and at Mercer as a research … Read more
The job of Rob Fowler, chief investment officer of HESTA, is about to change significantly. He still has the same job title, but a team restructure means he will spend less time on day-to-day investing, and more on strategy and innovation. HESTA has joined the ranks of the world’s most sophisticated funds by raising the … Read more
Industry bodies have given mixed reactions to the Assistant Treasurer’s issuing of a consultation paper which is seeking stakeholders’ views on changing the financing of the Australian Securities and Investments Commission (ASIC) to an industry funding model. The new model would be based on the Government’s Cost Recovery Guidelines where the cost of regulation would … 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.
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