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
I&T News talks to Tony Freeman, head of global industry relations for Omgeo, about regulation, cross-border trade, underinvestment in middle offices and the Australian market. To find out more about administrative issues at Conexus Financial’s Investment Administration Conference, click here.
Stronger Super reforms and the push for scale have driven an alliance between global asset manager Russell Investments and administrator Link Group. Russell and Link will join together to offer superannuation funds an integrated investment and administration platform, with Russell contracts passed over to Link along with 130 Russell employees. Link will take on the … Read more
The ASX is greatly changed in recent times. Now it is a public company listed on its own exchange and is no longer the regulator of the country’s equity and derivative markets. One little monopoly it is likely to hang on to for a while yet is that of clearing, with the decision from the … Read more
Former Australian Institute of Superannuation Trustees chief executive and long-time superannuation advocate, Fiona Reynolds, has criticised the recent outcry over the Labor government’s proposal to increase tax on superannuation earnings for higher income earners. The proposal has led to fierce debate in Parliament and industry, with Labor being accused of “class warfare” in the House … Read more
A focus on product innovation is proving fruitful for industry fund HESTA Superannuation, which last year introduced HESTA Income Stream, a default strategy that de-risks over time. “One of the things we’ve really identified is that members are looking for a strong default option in the income-stream space,” says Debby Blakey, deputy chief executive at … Read more
New research from Mercer shows Australia’s after-tax retirement benefits are among the least generous when compared globally. The paper, Tax and Superannuation: Benchmarking Australia against the World’s Best Retirement Systems, also revealed that Australia’s concessional contribution caps, which Mercer says encourage long-term saving, are relatively low by global standards. The study, conducted from December 2012 … 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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