It’s taken more than two years but we finally have a picture of what our new super system is meant to look like. Well, almost. FIONA REYNOLDS, CEO of AIST, writes.
Can super serve all generations?
At a recent industry conference, in one of the more interactive sessions, a group of trustees and staff was asked to discuss and respond to a series of scenarios facing a superannuation fund board in the latter part of this decade. This sort of blue-sky exercise is not uncommon at industry gatherings. One of the scenarios posited a large fund that had made a direct investment in a national aged care provider, primarily as a secure, long-term investment. The decision was being interpreted by observers as being partly in response to Government urgings for more investment in the aged sector and a natural progression for a fund with more than 15 per cent of members in pension products that included an innovative program of “health and lifestyle” support. What was striking about the discussion was the second aspect of the scenario.
Unlimited: being direct with private equity secondaries
The secondary market for private equity harbours a diverse range of investment opportunities. But how should superannuation funds approach this market: by acquiring commitments made by other private equity investors or by targeting the underlying portfolio companies in these programs? Investment Magazine put this question to investment professionals in a roundtable supported by The Camelot Group LLC. Simon Mumme reports.
In the past 25 years the secondary market for private equity has evolved from one in which investors
BlackRock, Goldman worried about China
The chief investment officers of BlackRock and Goldman Sachs & Partners Australia are among 16 who are more pessimistic about markets than they were a year ago and are particularly concerned about China and Europe, according to a Financial Services Council survey of CIOs.
IFM hires Neil Carter for new $1 billion fund
Industry Funds Management, the $30 billion fund manager owned by 32 not-for-profit superannuation funds, has hired three people from Macquarie Group to raise as much as $1 billion for a fund to invest in companies outside the ASX/S&P 100 Index. Eight Investment Partners is launching funds
Eight Investment Partners, the Asian fund management unit of South Africa’s Sanlam Group, is seeking to have seven portfolios by next year as it seeks to grow funds under management by almost 50 percent.
Super Size Me – Investment Success at Scale
The investment firepower and cost savings promised by economies of scale have enraptured the Australian superannuation industry. This has instilled in some funds an urge to merge in order to enjoy the benefits of being large. However, some investment chiefs believe that bigger size brings a new set of problems that can undermine performance. SIMON MUMME reports.
