Australian mining booms have traditionally been followed by bust, but when the current cycle fades, the floating currency will insulate the economy from a hard landing, according to a research note from HSBC. HSBC’s chief economist for Australia and New Zealand, Paul Bloxham, says that the current mining boom – which he says has some … Read more
Emerging-market funds boutique, MIR Investment Management, has rebranded to become Metisq Capital, taking its inspiration from a word, which in Greek mythology, refers to “wisdom” and “deep thought”. Metisq, in which Challenger has a stake through Fidante Partners, currently manages around $1 billion with teams of analysts located in Sydney, Melbourne and Singapore. Its predecessor, … Read more
Ross Jones says he often makes the point that the Australian Prudential Regulatory Authority (APRA) has more power over a small credit union than it does over a multibillion-dollar superannuation fund. That is all changing, however, with the passage in the Senate of legislation giving APRA the responsibility to set standards for the super industry, as it does for insurance … Read more
The Australian Prudential Regulation Authority has released a discussion paper with 31 draft-reporting requirements and instructions for the superannuation funds it regulates. The proposals implement transparency and accountability recommendations from the government’s Stronger Super reforms and build on the proposals APRA consulted on in 2009. These are the first changes to reporting requirements since 2004. … Read more
Australian super funds are at their highest level in some years – just 1.4 per cent under their pre-global financial crisis highs, according to research house SuperRatings. The performance results come as Sunsuper announced it had reached $20 billion under management, after 15-per-cent growth in the last year. Sunsuper now has 1.2 million members and … Read more
Funds manager and infrastructure investor Industry Funds Management (IFM) has announced a partnership with the Asset Management Council (AMC) that it says will enhance its risk practices. IFM’s investment director for infrastructure, Danny Elia, will joint the AMC board under the new arrangement, which will run for the next five years. “Best-practice asset management is … Read more
In a case that should launch fresh legal action in Australia and could have global implications, a group of local charities, churches and councils has won a Federal Court victory against failed US investment bank Lehman Brothers. Seventy-two entities banded together in a class action to sue Lehman Brothers for $248 million, claiming the bank … Read more
Australia’s $43-billion hedge fund industry has survived the global financial crisis intact and has moved back into a “growth trajectory,” according to one of the judges at this year’s Hedge Fund of the Year Awards. Matthew Jeremy, the managing director of Caravel Consulting Services, said the awards – led by overall winner, the BlackRock Australian … Read more
The hunt for alpha among global investors is creating opportunities for boutique investment managers, but there is still a “tug of war” between capturing returns and avoiding risk, according to a 2012 State Street survey of more than 160 asset managers. The State Street Vision Paper, released this week, says that institutional investors are not … Read more
Australian hedge funds and boutique investment firms control $208.4-billion-worth of assets, or around 17 percent of the total of $1.19 trillion managed by the entire Australian investment management industry. These are the findings of an inaugural survey by Triple A Partners and Basis Point Consulting, launched this week as the Australian Hedge and Boutique Fund … Read more
Martin Crowe, chief executive at Telstra Super, said the decision to remain with NAB had been made after an extensive review of the fund’s custodial needs. “They know us and our members well,” said Crowe, whose fund has 100,000 members. Christina Liosis, Telstra Super’s chief financial officer, citied the strength of the NAB balance sheet … Read more
Overall fees for the superannuation industry as a percentage of assets averaged 1.20 per cent for the 2011 financial year, a fall from 1.27 per cent for 2010. The information is contained in a Rice Warner report on superannuation commissioned earlier this year by the Financial Services Council. While the report was delivered to the … 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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