How to plan for longevity risk in the future if someone’s brain can be kept alive long after their body has wasted away is one of the more unusual questions posed in a new discussion paper released by Australia’s peak actuarial body. While engaging in some science fiction theorising, the Actuaries Institute has a harsh … Read more
The head of QIC’s global real restate (GRE) boutique, Robert Carter will leave QIC to pursue consulting opportunities, while Steven Leigh, the head of La Salle’s Australian operations, is set to replace him Robert Carter, a 22-year veteran of the Queensland funds manager, has decided to pursue consulting opportunities, which will include advising QIC during … Read more
The government has used MySuper to enforce the disclosure of superannuation executive and trustee salaries, and to impose rules on fund-manager performance fees. Super fund executives and trustees, which oversee much of Australia’s $1.3 trillion in mandated retirement savings, will be forced to disclose how much they are paid and show how they invest fund … Read more
Moving away from aggregate or composite-bond portfolios that mix credit and sovereign debt to awarding specific mandates will give the $12.8 billion Government Employees Superannuation Board (GESB) greater control of its fixed income portfolio. GESB recently announced $2.28 billion of new fixed-income mandates to three managers, and a wide-ranging restructure of its fixed-income portfolio. Steve … Read more
The domestic business of Acadian Asset Management has promoted Andrew Hair to replace former chief executive officer Chris Clayton. Hair has managed Acadian Asset Management Australia’s relationships with institutional investors and asset consultants since 2007. He became interim chief executive in March when Clayton left to take the sales helm at MLC Investment Management. Acadian … Read more
FirstChoice, a superannuation and investment unit of Colonial First State (CFS), reached $50.4 billion in funds under administration at March 31. The distribution system, which offers superannuation trusts and managed funds to financial advisers and their clients, held 11.56 per cent of the retail investment market in the December quarter with funds under administration of … Read more
The $12.8 billion GESB fund, responsible for the superannuation of Western Australian public servants, wants to increase the diversity of its portfolio, investing more in infrastructure and different types of debt and credit. Acting chief investment officer Steven McKenna says the fund is looking for different risk exposures in the overall portfolio and is interested … Read more
QIC has increased the exposure to timber in its $225-million Alternative Beta Fund, announcing it has invested with US-based Molpus Woodlands Group as part of a push to further diversify the assets in the fund. James Dick, the head of alternatives investments at QIC, says real assets now make up more than 20 per cent … Read more
Asset managers and service providers should be looking at what they can bring to market to cater for Australia’s growing post-retirement needs, Russell Investment’s global head of consulting Don Ezra says. A 35-year veteran of the consulting industry, Ezra says while Australia’s superannuation system has been a world leader in providing for the accumulation phase, … Read more
Increasing the global focus of its fixed-income portfolio, including gaining greater access to international credit markets, is behind a decision by GESB to award mandates worth a combined $2.28 billion to three fixed-income managers. Steve McKenna, GESB’s acting chief investment officer, said that Wellington Management Company was awarded a $706 million mandate to manage part … Read more
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