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
One week after becoming custodian to the $1.3-billion AvSuper, BNP Paribas is competing to keep two superannuation fund mandates totalling more than $5 billion. The $4.5-billion Australian Catholic Superannuation Retirement Fund (ACSRF), BNP Paribas’ second largest super fund client, and the $580-million Health Industry Plan (HIP) are assessing bids from custodians wanting to manage their … Read more
The Australian Catholic Superannuation Retirement Fund (ACSRF) is weighing bids from four custodian banks seeking to manage its $4.5 billion investment operations contract. Incumbent custodian BNP Paribas is competing against National Australia Bank (NAB), JP Morgan and State Street for the contract, which was tendered in March and is due to be completed in late … 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.
We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
