New research from the US shows that a high proportion of both pension fund sponsors and individual investors are misusing target-date funds, which is likely to lead to suboptimal investment outcomes. The research, by global manager Janus Capital in association with a magazine company and a research group, shows that investor education is particularly inadequate for these types of funds, where 20 per cent of those who had target-date funds thought the products came with a capital guarantee. More than two-thirds believed they needed to be blended with other funds, even though the whole point is that the vehicles are balanced but with asset allocations which change with time , thus designed to be used as default options.
Australia’s ‘regional hub’ dream stymied by tax system
Australia’s vast distance from the world’s financial centres and its complicated taxation system are strong barriers to offshore fund managers setting up an office here to pursue their growth strategies in Asia-Pacific markets. Surveying managers attending the Opportunity Australia conferences in London, New York and San Francisco, law firm Henry Davis York (HDY) found that 36 per cent of respondents planning to set up an Asia-Pacific office were undecided as whether they would choose Australia as a regional base. Asked about the barriers to doing business in Australia, respondents said the distance from major financial centres, its time zone, complicated tax system, high tax rates and the costs of setting up a business were influential factors.
Australia’s ‘regional hub’ dream stymied by tax system
Australia’s vast distance from the world’s financial centres and its complicated taxation system are strong barriers to offshore fund managers setting up an office here to pursue their growth strategies in Asia-Pacific markets. Surveying managers attending the Opportunity Australia conferences in London, New York and San Francisco, law firm Henry Davis York (HDY) found that 36 per cent of respondents planning to set up an Asia-Pacific office were undecided as whether they would choose Australia as a regional base. Asked about the barriers to doing business in Australia, respondents said the distance from major financial centres, its time zone, complicated tax system, high tax rates and the costs of setting up a business were influential factors.
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the quick red red fox jumps over the brown lazy dog. the quick red red fox jumps over the brown lazy dog. Why Cbus needs its Government man
Chief executive of the $13 billion Cbus, David Atkin, has outlined the specific causes on which the industry fund’s new executive manager of policy and government will aim to provide value to members.
Superpartners winds down Syncsoft relationship
Superpartners is in negotiations with the provider of its new administration platform, Synchronised Software, which are expected to result in the administrator taking greater control of the platform’s further development, while the revelation that Superpartners is also seeking a ‘tier one’ systems integrator to help it complete the project have placed a question mark over the future involvement of India-based Tata Consulting Services.
How sweet it is: JP Morgan gets to flick NAB
Laurence Bailey is a patient person. He first expressed interest in buying ANZ Custody, on behalf of the then Chase Manhattan Bank, about nine years ago. Last year he put in what would probably have been a winning bid only to see the ANZ business withdrawn from sale. Last week he was, at last, successful. TWU Super buys more hedge fund-of-fund exposure
The $2 billion TWU Super has reinforced its commitment to hedge funds by investing a further $100 million in the strategies, and flagging further mandates in 2010.
Solaris nets $100m for starters with FirstChoice
Solaris Investment Management gained an up-front $100 million mandate for being grouped into a multi-manager product on the Colonial First State (CFS) FirstChoice platform, as a growth boutique was ousted in the manager swap.
BlackRock’s ex-marketer lands new job
Jean-Luc Ambrosi, the former head of marketing at BlackRock, will soon begin work at another funds management giant.
Fortis foregone: Insto clean sweep for BNP Paribas Investment Partners
The chief executive of Fortis Investments Australia, and his two insto sales lieutenants, have failed to secure ongoing positions following the merger with BNP Paribas Investment Partners Australia, part of the global sale of Fortis Bank to BNP Paribas.
BlackRock's ex-marketer lands new job
Jean-Luc Ambrosi, the former head of marketing at BlackRock, will soon begin work at another funds management giant.
