The $46-billion industry-superannuation fund, AustralianSuper, has started the search for a senior portfolio manager to head a new internal equity-management team. This is the first step of a process that will see as much as 30 per cent of the fund’s assets managed in-house within five years. AustralianSuper’s head of investment operations, Peter Curtis, says … Read more
Using a fund of funds enabled the Future Fund to build a large exposure to hedge funds quickly during the global financial crisis, chief investment officer of the Future Fund, David Neal told delegates at the Conexus Financial Alternatives Conference last Thursday. The Future Fund, which uses a combination of fund of funds and direct … Read more
Portfolios should maintain their current level of exposure to equities, according to 52 per cent of delegates at the Australian Superannuation Investment Conference. They were voting before a session on the “equities conundrum,” at which speakers from a super fund, fund manager and consultancy presented their views on the outlook for equities, and their place … Read more
Australian supernnuation-fund boards suffer from “similarity selection bias” in selecting trustees and by doing so limit their opportunities to act, according to human-capital partner at Deloitte, Juliet Bourke. Bourke, who leads the national diversity and inclusion practice at Deloitte, says people are attracted to other people who are fundamentally the same as themselves. “We need … Read more
Mandiri Investasi’s chief executive Abiprayadi Riyanto has been in Australia meeting with large super funds and investment consultants, and talking up the story of Indonesia’s “rapid growth momentum.” Mandiri Investasi is the investment arm of Indonesia’s PT Bank Mandiri, and has around A$2 billion under management across large- and small-cap equities and fixed income. It … Read more
The increasing complexity of accounting standards is making it more difficult for company directors to acquire the level of knowledge required to sign off on financial accounts, according to an inaugural survey of directors’ financial literacy. The Financial Reporting Council (FRC) this week released the results of its survey on the literacy of Australian company … Read more
Praxis Partners has completed a white paper on the criteria for Future of Financial Reform-compliance. It is now conducting a process of interviews and demonstrations with GBST staff and product users to assess Composer’s readiness as the industry transitions through to the July 2013 – “drop-dead” date for compliance. Composer is used in a wide … Read more
Insurance was emerging as a potential differentiator as funds and financial-service providers design MySuper products, according to speakers at the AIA-Conexus Financial Group Insurance Summit this week. Damian Hill, chief executive officer of REST Industry Super, told the summit that his fund was “looking to take advantage” of the opportunity to include innovative insurance options … Read more
The creation of new investment-management boutiques continues around the world, despite a relatively tough time for active fund managers during the past 12 to 18 months. The head of equities and acting chief investment officer for MLC, Jonathan Armitage, says the company’s fund-of-funds approach to creating products for the Australian market means it regularly receives … Read more
Media Super has welcomed the national release of Australian film Not Suitable for Children despite a lukewarm opening weekend. However, the locally made romantic comedy ventures into more serious territory than the typical fodder served up by Judd Apatow, Katherine Heigl and J-Lo, so word-of-mouth may yet ensure a profitable run. The film took just over $146,000 on its debut weekend at the local box office, with … Read more
More available and flexible income-protection insurance is a key reason why the Asset Super and CareSuper merger is good for Asset members, says the fund’s chief executive, John Paul. Both funds today formally announced their deal would proceed, with the new $6.5-billion fund formally merging on October 26. Both boards gave in-principle support for the … Read more
Overconsumption and the stresses facing modern workforces are causing a rethink on work-life balance and, ultimately, calling into question the importance of constant economic growth. American author and filmmaker John de Graaf says the US is one of just five countries in the world not to have a law stipulating at least some paid vacation … 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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