AustralianSuper has posed the question of whether it should have its own investment management and currency hedging teams based in Europe and America. Peter Curtis, head of investment operations at the $85 billion fund, who was speaking at the Investment Administration Conference in Sydney, said this was a model used by larger pension funds internationally. … Read more
There is no-one-size-fits-all way of complying with prudential standards, an APRA representative told delegates at the Investment Administration Conference. Robyn McMahon, general manager, diversified institutions division at the Australian Prudential Regulation Authority, urged funds to look at the intent of the standards and to think about what they were able to do to fulfil its … Read more
Suzanne Branton has been appointed as the new general manager, investments at CareSuper, after eight years at Equip Super as a senior portfolio manager with responsibility for asset allocation. She moves to the $10 billion fund after Greg Nolan’s decision to step down as general manager, investments. An additional two people will also be recruited … Read more
The only way to protect the vulnerable in society is to protect the budget, Premier Mike Baird asserted ahead of next month’s election in New South Wales, in defence of his program of asset recycling. New infrastructure projects funded by the sale of existing assets are the lynchpin of the Liberal Premier’s plan to protect … Read more
The spread between the yield on bond and core domestic property is at an all-time high, says AMP Capital, but investors are finding it hard to allocate amidst a greater number of international buyers and concerns at office overcapacity. The recent drop in the Reserve Bank of Australia (RBA) cash rate to 2.25 per cent … Read more
As global growth continues to be stagnant Perpetual Investments is looking to outlier markets for stock picking opportunities. The global equities investment team believes markets others are avoiding could give long-term capital growth and income, as they seek to increase their investment universe and portfolio flexibility. “There is increasing demand for global equities as domestic … Read more
A superannuation awards that seeks to give a level playing field for funds, whether large or small, is the intention of the Conexus Financial Superannuation Awards, says selection committee member Michael Rice, chief executive of Rice Warner. Nominations for the awards close on Monday February 16, a short list of entrants will be published in … Read more
A ground-breaking study into the ruin-year of drawndown account balances is being undertaken by an Australian conglomerate of academics, industry stakeholders and regulators. The ruin-year, the time in a post-retirees life when their account balance hits zero, is just one subject amongst several being researched by the consortium. Anecdotally there are contrasting stories of how … Read more
Two philosophies dominate superannuation remuneration – those who believe top dollar and bonuses attract the best, and those who believe this is the antithesis of the profit-to-members ethos John Pearce, chief investment officer of UniSuper, was the highest paid employee in industry superannuation in 2014. In a not-for-profit sector where there is widespread unease at high … Read more
What do the explanations for remuneration strategies given by funds reveal? The biggest clichés in super fund remuneration statements are that the trustees consult with independent external consultants to ensure pay is in line with industry standards and that incentive pay for CEOs and CIOs is based on key performance indicators (KPIs). Usually this is … Read more
HESTA has appointed Debby Blakey as its new chief executive. Blakey was the deputy chief executive serving under Anne-Marie Corboy, who announced her departure as chief executive last September after 16 years in the role. Internally, senior staff at HESTA, had expressed a desire to see Blakey made chief executive. Angela Emslie, HESTA chair, said: … Read more
Operational alpha is a major means of providing custody service and enabling businesses, said Rohan Singh, managing director of Northern Trust in Australia. Northern Trust’s technological platforms covering unit pricing, accounting and Australian tax, are citied by Singh, as very attractive features to institutional investors. “We provide what some have termed operational alpha,” Singh said. … 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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