K2 Asset Management co-founder Mark Newman says too many of the large superannuation funds have focused on minimising fees and are excluding funds that are generating attractive after-fee returns.
Vanguard: “When you lower costs you give investors better returns”
Vanguard, the fund manager with US$1.9 trillion under management globally, welcomes superannuation reforms proposed by Jeremy Cooper, saying it will improve transparency and lower costs.
Liquidnet says institutional traders concerned about high-frequency trading
High-frequency trading is negative for long-only investors who make stock trades of considerable size, says a Liquidnet survey of more than 300 traders at asset management firms around the world.
Maritime Mining & Power Credit Union cements links with super funds
Mark Genovese, chief executive of the $700 million Maritime, Mining & Power Credit Union, says he is pursuing a similar strategy to Australia’s four largest banks by establishing close relationships with superannuation funds AusCoal and Maritime Super as the funds seek “solid returns”.
VicSuper CEO Michael Dundon: “the challenge is to grow the fund”
VicSuper, the 262,000 member, $8.7 billion superannuation fund, will continue to seek to invest along “sustainable investment” principles while boosting the number of its staff in education and advisory positions as it seeks to grow to an even bigger investor.
HostPlus CEO David Elia: “there needs to be more consolidation”
HostPlus, the $10 billion superannuation fund for the hospitality, tourism, recreation and sports industries, expects more mergers among funds and urged its members not to make hasty investment decisions during periods of market volatility.
Russell wins $4.5 billion client from Mercer
The $4.5 billion Australian Catholic Superannuation Retirement Fund has ended its 15-year relationship with Mercer Investment Consulting by appointing Russell, says an internal Russell email.
Joseph Skrzynski: “it’s not track record analysis” driving fund allocations
Superannuation and industry funds are “marking time” on decisions whether to invest in leveraged buyout funds as they analyse their general partner relationships, the implications of superannuation reforms and market volatility, says a doyen of Australian buyouts.
UniSuper CIO John Pearce not impressed with private equity returns
The chief investment officer of UniSuper, the $28 billion superannuation fund for Australian universities and research organisations, says he has not been impressed with private equity fund returns.
BNP Paribas wins AMP custody contract
BNP Paribas Securities Services, the third-biggest custodian in Australia, has beaten off State Street Corp. in the competition to be the custodian of $130 billion in funds for the merged AMP-AXA Asia Pacific Australia and New Zealand.
QSuper to invites custodians to bid for contract
QSuper, the $27 billion superannuation fund for current and former Queensland government workers and their spouses, will invite “major custodians” to tender for its custody contract currently held by the National Australia Bank Ltd.’s asset servicing unit.
Penny Wong, Bill Shorten confident 12% Super will be passed
Finance minister Penny Wong and assistant treasurer Bill Shorten say legislation to increase superannuation contributions to 12 per cent from nine per cent will be passed.
