Custodians and superannuation funds should establish clear protocols for the transfer of market data, says Jason Cotter, commercial manager of investments at AustralianSuper. Doing so will not only lead to reduced costs across the industry, but also prevent external companies from poaching business. Speaking at last week’s Investment Administration Conference in Sydney, Cotter said either … Read more
Acting chief executive of Media Super, Michael Rooney, is frustrated by the lack of data transparency of some of its service providers as the fund takes greater control of risk monitoring. Rooney says the fund is in the process of obtaining more indepth investment information for its annual reports. This is part of a two-phase … Read more
Trustees should be spearheading changes to the superannuation industry’s standards, according to Ross Jones, deputy chairman of the Australian Prudential Regulation Authority (APRA), who advises trustees to engage and consult with the regulator. “My recommendation is that trustees keep actively involved in this, that trustees don’t just outsource a lot of the decision-making processes,” he … Read more
Since the advent of mainframes in the financial services sector, the term straight-through processing (STP) has been with us to describe the ongoing integration of the front, middle and back offices, connecting parties to each trade electronically in order to reduce inefficiencies – and risk. By allowing the automatic transfer of information from one part … Read more
Discover how the Future Fund’s David Gonski thinks about governance and approaches his role as chairman of one of Australia’s largest funds in the second part of our Maverick Series video.
Transparency and efficiency amid industry change was the focus of last week’s 2013 Investment Administration Conference, held in Sydney. John Brogden, chief executive officer of the Financial Services Council closed proceedings with a keynote address on the state of the nation, discussing the potential outlook for financial services and the roles of its players. Pierre … Read more
When the prospective real return from a traditional 60/40 equities-and-bonds portfolio is less than half the level it has been for the past several decades, investors had better start to think about new ways to generate better performance. Cliff Asness, founding and managing partner of the US-based fund manager AQR Research, said the return from … Read more
The winners of the 2013 Australian Custodial Services Association (ACSA) Awards were announced at last week’s 2013 Investment Administration Conference, a Conexus Financial event in association with ACSA. At the conference’s gala dinner, ACSA recognised achievements within the custody and investment administration industry. Emad Hanna, technical training manager at BNP Paribas, John Leahy, head of … Read more
Tom Garcia has been appointed chief executive officer of the Australian Institute of Superannuation Trustees (AIST) following the departure of former CEO, Fiona Reynolds, in January this year. Garcia, who has been executive manager, policy and research for the past two years at AIST, begins in the role immediately. AIST president, Cate Wood, made the … Read more
Tom Garcia has been appointed chief executive officer of the Australian Institute of Superannuation Trustees (AIST) following the departure of former CEO, Fiona Reynolds, in January this year. Garcia, who has been executive manager, policy and research for the past two years at AIST, begins in the role immediately. AIST president, Cate Wood, made the … Read more
Credit Suisse is telling its private clients to get back into equities, but says they must be prepared for lower than historical returns over the next 10 or so years. David McDonald, the head of strategy and research in Australia for Credit Suisse private banking, told a media briefing that the bank was forecasting “3.5 … Read more
Listed-fund manager Magellan Asset Management has cited experience with Ireland’s Undertakings for Collective Investment in Transferable Securities (UCITS) framework as a key reason in the appointment of Northern Trust as its new custodian. Northern Trust was appointed after a competitive process, replacing former custodian Merrill Lynch. Magellan, which has around US$6.7 billion in funds under … 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.
