One of three applicants to be a market licensee in competition with the ASX, Liquidnet, has welcomed the proposed transfer of financial market supervision to ASIC as a “positive first step”, which Minister For Financial Services, Chris Bowen, confirmed paved the way for new market entrants.
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Saved by the DTAs: itchy implemented clients forced to stay put
Deferred tax assets are stifling competition in the pooled superannuation trust (PST) sector, with at least one corporate fund having its intention to switch implemented consultants frustrated by the prospect of leaving the valuable intangible assets behind.
Multimanager ipac has signalled it won’t allocate to passive managers, but will aim to minimise redundancy among active managers as it nears the implementation stage in the review of its $4 billion Australian equities portfolio. Frontier lures UniSuper senior analyst
Frontier Investment Consulting has attracted some young talent from UniSuper’s 20-plus investment team.
Member engagement could hurt super returns: ISN
The Henry and Cooper reviews of the superannuation industry should consider the implications for portfolio construction of having too many active and engaged members, including the prospect of funds being forced to adopt a more conservative asset allocation which coud ultimately hurt their returns, a major industry body has argued.
State Street links Investor Services and Global Markets at the top
State Street in Australia has followed its European and Asian businesses by linking up the Investor Services and Global Markets divisions under the one head.
Former RBA chief gives crisis autopsy
The third annual conference of the Paul Woolley Centre for Capital Market Dysfunctionality – October 28-30 – will see a former Reserve Bank Governor discuss the topic: ‘The Crash of the Financial System: Bad Luck or Bad Structure?’. 
