Page 758 – Investment Magazine

British uni fund takes ESG lead, but mulls hedge fund application

07/02/201905/08/2009 by Staff Writer

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The £23 billion ($46.7 billion) Universities Superannuation Scheme is the UK’s second largest pension fund and a signatory to the UN’s Principles for Responsible Investment. Kristen Paech talks to the fund’s co-head of responsible investment, David Russell, about the role institutional investors are playing in effecting environmental, social and governance change – and the challenge of applying them to burgeoning hedge fund portfolios. Earlier this year, members of the Private Equity Council (PEC) in the US adopted a set of responsible investment guidelines to be applied prior to investing in companies and during the period of their ownership.

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The power of platforms in a consolidating world

07/02/201905/08/2009 by Staff Writer

A flurry of recent consolidation in the platform market raises questions over the power this new era of mega-platforms could wield over fund managers. KRISTEN PAECH reports. In the 1990s, US research firm Cerulli Associates famously predicted there would only be five major platforms in the Australian market by 2004. While this turned out to be premature, a bout of consolidation over the last six months has significantly boosted the market share of those who’ve gone on the offensive, and increased the dominance of the major market players.

The power of platforms in a consolidating world

07/02/201905/08/2009 by Staff Writer

Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} A flurry of recent consolidation in the platform market raises questions over the power this new era of mega-platforms could wield over fund managers. KRISTEN PAECH reports. In the 1990s, US research firm Cerulli Associates famously predicted there would only be five major platforms in the Australian market by 2004. While this turned out to be premature, a bout of consolidation over the last six months has significantly boosted the market share of those who’ve gone on the offensive, and increased the dominance of the major market players.

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A new model for industry funds

07/02/201905/08/2009 by Staff Writer

The future of industry funds lies in member segmentation akin to the financial planning model and sustainable value propositions that no longer focus solely on growth and price, writes KRISTEN PAECH.

A new model for industry funds

07/02/201905/08/2009 by Staff Writer

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Over to you, John Brogden… Gilbert’s legacy for IFSA – a group united

07/02/201905/08/2009 by Staff Writer

Richard Gilbert steps down at the end of August after 11 years at IFSA, the last six of which as chief executive. In that time, membership has doubled, the members’ total funds under management has risen two-and-a-half times and the association’s influence grown immeasurably. He speaks with GREG BRIGHT about the highlights and lowlights of his tenure. When Richard Gilbert joined the Investment and Financial Services Association (IFSA), as deputy chief executive, in 1997, the industry was divided. IFSA had resulted from the merger of three organisations representing managers and insurers – the Australian Investment Managers Association (AIMA), the Life, Investment and Superannuation Association (LISA) and the Investment Funds Association (IFA).

Over to you, John Brogden… Gilbert’s legacy for IFSA – a group united

07/02/201905/08/2009 by Staff Writer

Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} Richard Gilbert steps down at the end of August after 11 years at IFSA, the last six of which as chief executive. In that time, membership has doubled, the members’ total funds under management has risen two-and-a-half times and the association’s influence grown immeasurably. He speaks with GREG BRIGHT about the highlights and lowlights of his tenure. When Richard Gilbert joined the Investment and Financial Services Association (IFSA), as deputy chief executive, in 1997, the industry was divided. IFSA had resulted from the merger of three organisations representing managers and insurers – the Australian Investment Managers Association (AIMA), the Life, Investment and Superannuation Association (LISA) and the Investment Funds Association (IFA).

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Don Ezra’s three lessons for even better super

07/02/201905/08/2009 by Staff Writer

In a book he has just co-authored on America’s burgeoning defined contribution retirement system, DON EZRA finds plenty of inspiration to be drawn from Australia’s example. However, the co-chair of global consulting at Russell Investments also finds three big areas for improvement. Australia has the most advanced defined contribution (DC) superannuation system in the world. No other country with developed capital markets has such a high ratio of DC assets to GDP.

Don Ezra’s three lessons for even better super

07/02/201905/08/2009 by Staff Writer

Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} In a book he has just co-authored on America’s burgeoning defined contribution retirement system, DON EZRA finds plenty of inspiration to be drawn from Australia’s example. However, the co-chair of global consulting at Russell Investments also finds three big areas for improvement. Australia has the most advanced defined contribution (DC) superannuation system in the world. No other country with developed capital markets has such a high ratio of DC assets to GDP.

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Why super raters struggle with the long term

07/02/201905/08/2009 by Staff Writer

“If you had a retail fund PDS in front of you, what would it tell you about longterm performance objectives?” asks Warren Chant, principal at super fund ratings agency Chant West. “You’d get some waffly words, but no figures.” In their PDSs, industry super funds usually provide long-term investment objectives, for example consumer price inflation plus 3.5 per cent. But retail funds don’t. For example, according to the AXA Generations PDS, the manager’s Defensive multi-manager option targets “some growth in the short-to-medium term with smaller fluctuations in value” than the Moderately Defensive or Alternative Balanced options.

Why super raters struggle with the long term

07/02/201905/08/2009 by Staff Writer

Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} “If you had a retail fund PDS in front of you, what would it tell you about longterm performance objectives?” asks Warren Chant, principal at super fund ratings agency Chant West. “You’d get some waffly words, but no figures.” In their PDSs, industry super funds usually provide long-term investment objectives, for example consumer price inflation plus 3.5 per cent. But retail funds don’t. For example, according to the AXA Generations PDS, the manager’s Defensive multi-manager option targets “some growth in the short-to-medium term with smaller fluctuations in value” than the Moderately Defensive or Alternative Balanced options.

Pages: 1 2 3

Linked in: the perks and pitfalls of running ILBs

22/05/201905/08/2009 by Staff Writer

Inflation is coming, and with commodity prices and property valuations in decline, some investors are allocating to inflation-linked bonds, which are built to outperform once economic growth is hit and real yields fall. But ‘linkers’ carry illiquidity and volatility risks that can undermine their appeal. How should superannuation funds approach these assets? SIMON MUMME reports. … Read more

British uni fund takes ESG lead, but mulls hedge fund application

The power of platforms in a consolidating world

The power of platforms in a consolidating world

A new model for industry funds

A new model for industry funds

Over to you, John Brogden… Gilbert’s legacy for IFSA – a group united

Over to you, John Brogden… Gilbert’s legacy for IFSA – a group united

Don Ezra’s three lessons for even better super

Don Ezra’s three lessons for even better super

Why super raters struggle with the long term

Why super raters struggle with the long term

Linked in: the perks and pitfalls of running ILBs

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