The two major asset consulting firms which do not have related funds management operations, Frontier Investment Consulting and Watson Wyatt, made strong statements on fee reform last month. Frontier managing director, Fiona Trafford-Walker, emailed every manager in the firm’s database on October 21, setting out its support for a “flat dollar fee, with an annual inflation ratchet that simply covers the cost of managing your business (excluding inappropriately large salaries and bonuses)…then a performance based fee which aligns the interests of the manager with the client”.
The two ‘pure’ consultants lay down law on fees
The two major asset consulting firms which do not have related funds management operations, Frontier Investment Consulting and Watson Wyatt, made strong statements on fee reform last month. Frontier managing director, Fiona Trafford-Walker, emailed every manager in the firm’s database on October 21, setting out its support for a “flat dollar fee, with an annual inflation ratchet that simply covers the cost of managing your business (excluding inappropriately large salaries and bonuses)…then a performance based fee which aligns the interests of the manager with the client”.
Currency to crimp the master trusts’ comeback
The comeback of retail master trusts against industry funds in the performance stakes will face a headwind if the Australian dollar remains high, because their average strategic hedging level is much lower, according to data from Chant West Financial Services. “To the extent that anyone’s not 100 per cent hedged, they are suffering at the moment,” UniSuper’s chief investment officer John Pearce said last month, and master trusts will be suffering most of all given their average 27 per cent hedging level as at June 2009.
Currency to crimp the master trusts’ comeback
The comeback of retail master trusts against industry funds in the performance stakes will face a headwind if the Australian dollar remains high, because their average strategic hedging level is much lower, according to data from Chant West Financial Services. “To the extent that anyone’s not 100 per cent hedged, they are suffering at the moment,” UniSuper’s chief investment officer John Pearce said last month, and master trusts will be suffering most of all given their average 27 per cent hedging level as at June 2009.
Consultants’ Revival
Dynamic asset allocation, enhanced asset allocation, strategic overlay, stractical investing: call it what you like, there’s a new kid on the block and it’s occupying the minds of super funds, asset consultants and funds managers alike. With super funds beginning to value downside protection more than incremental return, asset consultants and multi-managers have seized the opportunity by offering a service that moves away from “set-and-forget” strategic asset allocation (SAA) by taking intentional tilts over a medium term time horizon. KRISTEN PAECH reports on the investment phenomenon that has given consultants a new lease of life.
Consultants’ Revival
Dynamic asset allocation, enhanced asset allocation, strategic overlay, stractical investing: call it what you like, there’s a new kid on the block and it’s occupying the minds of super funds, asset consultants and funds managers alike. With super funds beginning to value downside protection more than incremental return, asset consultants and multi-managers have seized the opportunity by offering a service that moves away from “set-and-forget” strategic asset allocation (SAA) by taking intentional tilts over a medium term time horizon. KRISTEN PAECH reports on the investment phenomenon that has given consultants a new lease of life. Consultants' Revival
Dynamic asset allocation, enhanced asset allocation, strategic overlay, stractical investing: call it what you like, there’s a new kid on the block and it’s occupying the minds of super funds, asset consultants and funds managers alike. With super funds beginning to value downside protection more than incremental return, asset consultants and multi-managers have seized the opportunity by offering a service that moves away from “set-and-forget” strategic asset allocation (SAA) by taking intentional tilts over a medium term time horizon. KRISTEN PAECH reports on the investment phenomenon that has given consultants a new lease of life. 
Health Industry Plan (HIP) has hired a new active extension manager for a $35 million mandate to better complement its existing long/short equities exposure. Pence turns up in new role
The chair of Women In Super for NSW, Suzanne Pence, has started a new role after departing her job as client relationship manager for State Street Investor Services.
Trinity gets chance to keep $850m
Investors with $850 million invested in Trinity Funds Management products have appointed KPMG to investigate the governance changes underway at the manager before deciding whether to put their mandates out to tender.
$20bn in custody on the line for JPMorgan WSS
Custody tenders sent to market by two large superannuation funds will put their incumbent provider, JPMorgan Worldwide Security Services (JPMorgan WSS), to the test.
