Two asset managers have been anointed with five-star ratings from Standard & Poor’s (S&P) Fund Services in its latest survey of the Australian small-cap equities sector.
RBC Dexia Investor Services is shifting some non-client-facing unit registry functions from Melbourne to Kuala Lumpur, as it brings its global operating model to bear. 'Morry copycats' inspire quant headhunter deal
Funds managers looking to capitalise on renewed interest in scientific investing, inspired in part by the buzz around the boutique being established by former BGI global chief investment officer Morry Waked, have lead to the formation of a new executive search group with a speciality in finding quants.
S&P picks Australia's small-cap standouts
Two asset managers have been anointed with five-star ratings from Standard & Poor’s (S&P) Fund Services in its latest survey of the Australian small-cap equities sector.
Unbalanced
’appy with it: First State Super enters the iWorld When First State Super (FSS) announced in July that it would be launching an iPhone application, more than a few marketers from competing funds were happy to stand back and let the NSW public sector scheme claim the ‘industry first’. Well, Unbalanced is happy to report that FSS has proved the doubters wrong. As at the start of September, the FSS app had been downloaded more than 7000 times in the two weeks it had been available, either from the iTunes store or direct from the FSS website. The marketing manager for FSS, Karen Volpato, said the fund’s app had to first be vetted for “credibility” by the folk at Apple. Presumably it would have been an easy one to pass, in between the likes of ‘Coin Push Frenzy’ and ‘The Moron Test’ crossing Steve Jobs’ desk. The app allows FSS members to check their account balance and daily unit price, change their details and register for seminars, and in the future they will be able to switch investment options as well.
As records tumble, the real Chinese miracle is in their determination
The Chinese like their records, and heaven knows they are good at counting. With a population of 1.3 billion, they can usually expect quite a few world records in various endeavours. In economic terms, last month they took out the silver medal for the world’s second-largest economy, by total GDP, pipping arch-rival Japan, but with still a way to go to attain America’s gold. According to an oftquoted Goldman Sachs report, China will have the world’s largest economy by 2027. Of course, GDP per capita only puts China at 124th in the world, but there’s no need to point that out in these celebratory times.
Asset-based fees: not just pennies from heaven
One of the most curious aspects of the Cooper Review’s final report was that whilst its overall focus was on cutting costs, very little was done in the way of making recommendations about investment costs, even though they are the largest cost for any fund. Plenty of recommendations were made about administration, efficiency and governance, writes AIST CEO Fiona Reynolds.
Forget stability: it’s time for reform
Now for the hard part. Establishing a stable government that would run a full three-year parliamentary term was the focus of negotiations by the Independents following the election. But stability is only half of the requirement for sustained economic growth, writes John Brogden, CEO of the FSC.
Time for a macro view
Australian hedge funds (including offshore funds sold in Australia) returned a positive 0.62 per cent in July 2010, but year-to-date performance was minus 0.84 per cent.
TOFA takes off on time with DST
Fund managers, administrators and custodians have reported a smooth entry to TOFA compliance after working for more than two years with DST Global Solutions on its HiPortfolio software. PHILIPPA YELLAND reports
Cloudy with a chance of claims
As some super funds look to improve member service levels by managing insurance claims in-house, it is critical to consider the claims lifecycle processes and how they are designed to assist with insurance claim costs. These super funds may be advised to at least consider how Cloud computing can facilitate the improvement of member satisfaction levels, as well as how Cloud computing can contribute to reducing the cost per claim. Reducing costs by even by a small percentage can have a significant impact on the bottom line, argues GRAHAM SAMMELLS*
ARIA custody tender as BNP PSS hits streak
The master custody contract for the giant ARIA public sector scheme has gone out to tender, at a time when BNP Paribas Securities Services has won a new funds manager client and perhaps two fiduciary funds on the trot. The chief operating officer (and acting chief executive) of the $16 billion fund, Peter Carrigy-Ryan, confirmed that a review of the global master custody contract – held for many years by JPMorgan Worldwide Securities Services – was underway, and would be conducted internally. The review had originally been scheduled for the 2008/09 financial year, but was postponed due to the global financial crisis.
