In a response to members’ risk aversion in the dark days of the financial crisis, the $2.5 billion LUCRF Super has overhauled its investment options and will begin running four major new strategies in the coming weeks. On the investment risk spectrum, the options range from high-growth through to conservative, and run in alignment with four set splits between growth and defensive assets: 90/10, 77/23, 50/50 and 30/70. Greg Sword, CEO of the industry fund, said the new options were introduced to provide members with options that stood a better chance of satisfying their risk appetites.
Big scale shapes AustralianSuper’s future
Australian super funds are still organising their equity portfolios “like they did 10 years ago” when they enjoyed none of the scale they do today, said AustralianSuper chief investment officer Mark Delaney, as he announced a search for four new positions in his investment team last month. The $33 billion fund will search for its first dedicated head of equities, as Delaney vowed to “explore all the options” for implementing the share portfolios more efficiently. AustralianSuper has already gone 50 per cent passive (through Industry Funds Management which it part-owns) and halved the active manager list in its Australian equities portfolio.
Mercer, Aon win as Jacques Martin folds
Aon and Mercer have picked up a number of new clients as the ASB Bank-owned Jacques Martin (JM) member administration business winds down in New Zealand.
Retirement benefits tipped to appear on statements
Retirement benefit projections are set to be on members’ statements within six months, following Provisio’s upgrade to its rapid advice delivery software. Bourse tie-up may finally encourage Asia mandates
Locally-based Asian equity managers have welcomed the Singapore Stock Exchange’s proposed takeover of the ASX, saying it will boost liquidity as well as institutional investor appetite for regional mandates.
Big funds manager seeks EOIs for custody, admin
An $11 billion Australian funds manager is seeking expressions of interest from would-be suppliers of custody and investment administration services.
A job for Jake Jodlowski…
The long-time general manager of investments at United Funds Management, Jake Jodlowski, hasn’t let the grass grow under his feet after completing a post-merger handover to IOOF chief investment officer Steve Merlicek last week.
Brisbane deal shows Telstra Super’s unlisted tilt
Telstra Super’s joint acquisition of Brisbane Square with Charter Hall reflected the fund’s aim to overweight its $1 billion property portfolio to unlisted assets, Jim Christensen, CIO at the $10 billion fund, said.
…as IOOF hires asset allocation chief
IOOF chief investment officer Steve Merlicek continues to piece together a team to oversee $12 billion in multimanager funds, tapping Russell Investments for a strategy and asset allocation chief. Brisbane deal shows Telstra Super's unlisted tilt
Telstra Super’s joint acquisition of Brisbane Square with Charter Hall reflected the fund’s aim to overweight its $1 billion property portfolio to unlisted assets, Jim Christensen, CIO at the $10 billion fund, said.
Access consulting head jumps to client
Access Capital Advisors has appointed a new head of asset consulting, following the incumbent’s decision to take a senior investment strategist role at an Access client, Cbus.
The $4bn newcomer: Colonial resources fund gets insto win
Colonial First State Global Asset Management’s Global Resources Fund might manage $4 billion, but it’s only just found its first sizeable Australian institutional client – and he’s the same guy responsible for the first and still only China ‘A’ Shares mandate from an Australian investor.
