The Brisbane-based Tactical Global Management (TGM) won more than $4.2 billion of new mandates in the last quarter of 2012 and has picked up a global “excellence in investment management” award in recognition of its services. The mandates included a $4-billion rebalancing overlay, a $200-million currency overlay and a smaller beta-transfer mandate, each tailored to … Read more
An environment of low prospective investment returns and relatively high volatility demands more refined, “outcome-oriented” investment solutions, according to the global chief investment officer of Russell Investments, Pete Gunning. Institutional investors and financial planning firms, Gunning says, need to have at their disposal a far wider range of investment options – “componentry”, in Russell’s terms … Read more
Emerging-market debt is one of the 2013’s key themes, but one of the most promising components of the asset class – local-currency corporate debt – has yet to appear on the radar screens of many investors. That is the view from global fund manager PineBridge Investments, two managers who were in Australia in February for … Read more
The aviation industry-based superannuation fund AvSuper has awarded a $75-million mandate to Perpetual Investments, to be managed in a concentrated Australian equity strategy. AvSuper has about $1.4 billion in funds under management and 6100 members. The concentrated equity strategy is managed by Paul Skamvougeras, who says the concentrated equity portfolio typically holds about 30 stocks. … Read more
Australia’s “lump-sum” mentality when it comes to superannuation is a key challenge for government and industry, says Nick Sherry, senior adviser to Citi, arguing that the system is need of a significant change in parameters. “Australia is the land of the lump sum. I call it the lotto mentality,” he tells IM Online. “The classic … Read more
The Association of Superannuation Funds Australia (ASFA) will be pushing industry to project future performance using a “balanced scorecard”, according to its chief executive officer, Pauline Vamos. In line with more transparent reporting protocols, Vamos says while the focus in super has traditionally been past performance, there are ways to give indicators of future performance. … Read more
QSuper has partnered with Challenger to offer a new guaranteed-term annuity, the first for the superannuation fund and exclusive to its members. The product, which is available to members through QSuper or its financial planning business QInvest1, will provide a very competitive earning rate on term annuities, according to Michael Pennisi, chief strategy officer at … Read more
The first of the MySuper licences have been authorised by the Australian Prudential Regulation Authority (APRA), enabling licencees to offer their products from July 1, 2013. Sunsuper was the first superannuation fund in Australia to receive its licence for Sunsuper for Life, Lifecycle Investment Strategy; Cbus announced its authorisation for Growth (Cbus My Super) shortly … Read more
Allan Stewart and Michael O’Connor may be on either side of the employer/union divide but when it comes to issues of superannuation, they are as one. The two are co-chairs of the First Super industry fund, with Stewart the employer representative and O’Connor, who is also national secretary of the Construction, Mining, Forestry and Energy … Read more
A central, if often overlooked feature of Australia’s super funds is that they have, for a very long time, worked closely with external service providers in their pursuit of world best practice. In relation to custody and securities services, this is a very sensible approach. The scale, geographic reach, and massive investment in technology of … Read more
In the third part of our Maverick Series video, chairman of the Future Fund David Gonski shares his views on how best to deal with conflict of interest and the composition of boards.
A year ago, in early 2012, the global economy was healing gradually. Growth rates in the developed world and some emerging markets were well below the long-term averages, if not actually negative. Investor confidence was fragile, with sentiment overshadowed by concerns over the banking system and public finance in the euro area. So, what has … 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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