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hedNo life after Madoff for ge fund Platypus

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Sydney hedge fund manager Platypus Capital Management shut down last month as insufficient scale and the difficulty of raising capital from offshore clients in a “post- Madoff world” made business as an independent Australian hedge fund unviable. Even though convicted US fraudster Bernard Madoff claimed to run a market-maker investment firm, not a typical hedge fund, his momentous crime hurt the hedge fund industry, whose managers have a reputation for keeping their strategies secret from investors.

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UniSuper’s $6 million Acurity overhaul

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UniSuper chief executive Terry McCredden has called on the expertise of an old colleague from his Telstra Super days as part of a $6 million project which involves remediation of the Acurity administration platform adopted by the fund in 2006. Helen Radatti, former chief information officer at Telstra Super, who worked with McCredden when he was the corporate fund’s chief executive officer, has joined UniSuper’s business systems committee as an independent member. The project is being managed by the self-administered fund’s technology division but supervised by the business systems committee, which oversees all of UniSuper’s business systems projects.


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UniSuper’s $6 million Acurity overhaul

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UniSuper chief executive Terry McCredden has called on the expertise of an old colleague from his Telstra Super days as part of a $6 million project which involves remediation of the Acurity administration platform adopted by the fund in 2006. Helen Radatti, former chief information officer at Telstra Super, who worked with McCredden when he … Read more

Celebration over, time to implement simple advice

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Funds are assessing the implications of the new simple advice relief, including further training for call centre staff, on the back of the Australian Securities and Investments Commission’s decision to allow super funds to provide limited personal advice to members. Last month, ASIC released regulatory guidance allowing licensed super fund trustees to give personal advice to members about their existing investment in a fund on certain limited topics.


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Celebration over, time to implement simple advice

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Aaspiring for perfection – but coming up a little in arrears

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AAS has migrated 15 clients to its new aaspire member administration platform, including the $14 billion REST in one of the largest data migrations in Australian superannuation history, but arrears reporting has proved a stumbling block, causing problems for many funds. The NSW Electrical Superannuation Scheme (NESS) was the first AAS client to transfer to the member administrator’s new system, an overhauled version of Atune.


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Aaspiring for perfection – but coming up a little in arrears

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AAS has migrated 15 clients to its new aaspire member administration platform, including the $14 billion REST in one of the largest data migrations in Australian superannuation history, but arrears reporting has proved a stumbling block, causing problems for many funds. The NSW Electrical Superannuation Scheme (NESS) was the first AAS client to transfer to the member administrator’s new system, an overhauled version of Atune.

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New performance data company to set up in Australia

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An internationally influential investment performance reporting company – eVestment Alliance – is to set up an Australian office from November, challenging the dominant position of Mercer Investment Consulting for the provision of analytics and information to the industry.

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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.

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