As many as 140 Australian listed investment companies are trading at a discount to their net asset values, making them vulnerable to hedge funds who will push for their liquidation to make a profit.
CMSF 2012 daily news: day three
The not-for-profit superannuation movement should promote the strengths of its representative trustee system amid criticism that it lacks independence and professionalism, CMSF 2012 heard. Steve Bracks, former Victorian premier and current chair of Cbus, said the representative trustee system not only delivered good oversight but also brought union and employer group officials with skills in … Read more
Pierre Jond expects BNP Paribas custody wins
When Frenchman Pierre Jond’s daughters first arrived in Australia in January 2010 he took them to Bondi Junction. There his eldest tugged at her father’s sleeve to attract his attention. “Papa there are men barefoot and shirtless; aren’t the police going to do anything?” Jond laughingly recalls his daughter saying in French. Jond, like his … Read more
First Super invites Tony Abbott to board meeting
First Super, the $1.6 billion fund, has invited Tony Abbott to attend its board meeting in March or June to give the leader of the opposition experience of how employer-employee industry superannuation fund boards work. First Super co-chair Alan Stewart says the invitation to the opposition leader came about as a result of Abbott’s criticism … Read more
Perennial Real Estate wants more
David Kivell has been managing director at Perennial Real Estate Investments for less than two months. But he has grand visions. Kivell, who oversees an investment team of 11 people that manages $1.4 billion in publicly traded or soon to be traded property stocks, wants to bolster funds under management to as much as $6 … Read more
David Hobart’s unique state of mind
For hedge fund manager David Hobart it’s all about getting one’s head in the right space. That means getting rid of “flawed and reactive” feelings that may interfere with objective investment decisions. Hobart needs to meditate, not in the conventional sense of sitting on the beach and, in his words, adopting the lotus position. What … Read more
Lounarda David breaks from Mercer Sentinel
Lounarda David, partner and long-standing regional director of Mercer Sentinel in the Asia-Pacific, will leave the investment operations consultancy in late April.
Industry calls SG boost to 12% “historic”
The passing of the Minerals Resource Rent Tax legislation through the Senate late on Monday night, which ensured the superannuation guarantee (SG) will lift from nine to 12 per cent, has been hailed by the super industry as historic.
CMSF 2012 daily news: day two
Big funds tackle peer risk Focusing on the risks faced by members and judging each investment on its merits helps superannuation funds break from common asset allocations, investment chiefs at the Future Fund and QSuper told CMSF 2012 yesterday. The past 20 years have seen at least three financial crises, the rise of the superannuation … Read more
CMSF 2012 daily news: day one
Asset owners don’t have the confidence to impose their views on advisors, said trustee of the £32 billion Universities Superannuation Scheme, Howard Jacobs in a heated plenary with general secretary of the International Trade Union Confederation, Sharan Burrow, and PRI chair, Wolfgang Engshuber. Click here to read the round-up of Day One of the 2012 CMSF … Read more
