The funds management industry is not known as a rapid adopter of
new technologies. It was slow to appreciate the power of the internet as a
marketing tool and as a way to streamline backoffice and other processes. After
a flurry of activity in the late 1990s, when some managers mistakenly believed
that a whole new class of investors was willing to buy retail managed funds
online, without advice, development slowed. The Y2K red herring diverted time
and resources, slowing genuine development further.
Keep it simple: it’s the internet
The funds management industry is not known as a rapid adopter of new technologies. It was slow to appreciate the power of the internet as a marketing tool and as a way to streamline backoffice and other processes. After a flurry of activity in the late 1990s, when some managers mistakenly believed that a whole new class of investors was willing to buy retail managed funds online, without advice, development slowed. The Y2K red herring diverted time and resources, slowing genuine development further.
Retrenched recently? Re-invention in the economic downturn
Career transition expert HUGH DAVIES has some suggestions for the growing number of financial services professionals who have been retrenched. And here’s a hint – they do not revolve around immediately trying to find a job and a pay packet to match your last one. Aside from taking the blame for recent economic travails, many executives and professionals in financial services firms have also had to live with being retrenched. For many this has been traumatic – and then their discomfort and confidence has been further impacted by the extreme difficulty landing another job like the last one, in a contracting market for financial services firms. How should you handle this situation – assuming of course that a return to well remunerated work is desired?
Retrenched recently? Re-invention in the economic downturn
Career transition expert HUGH DAVIES has some suggestions for the growing number of financial services professionals who have been retrenched. And here’s a hint – they do not revolve around immediately trying to find a job and a pay packet to match your last one. Aside from taking the blame for recent economic travails, many executives and professionals in financial services firms have also had to live with being retrenched. For many this has been traumatic – and then their discomfort and confidence has been further impacted by the extreme difficulty landing another job like the last one, in a contracting market for financial services firms. How should you handle this situation – assuming of course that a return to well remunerated work is desired?
Gloomy investors take a shine to gold
King Midas once said “everything I touch turns to gold” and in an environment of continuing market volatility, institutional investors are increasingly wishing they had the Midas touch – according to ETF Securities’ Nigel Phelan. Gold is enjoying a stellar run. A surge in the gold price has helped this precious metal overshadow most other asset classes. Gold retuned just over 29 per cent from 1 June 2008 through to 1 June 2009, versus a loss of 32 per cent in the broader market as represented by the S&P/ASX 200 Index. This recent performance tops a decade of strong returns – the value of an ounce of gold has increased almost four-fold in the past 10 years with the steepest ascent between mid 2007 and March 2009.
Gloomy investors take a shine to gold
King Midas once said “everything I touch turns to gold” and in an environment of continuing market volatility, institutional investors are increasingly wishing they had the Midas touch – according to ETF Securities’ Nigel Phelan. Gold is enjoying a stellar run. A surge in the gold price has helped this precious metal overshadow most other asset classes. Gold retuned just over 29 per cent from 1 June 2008 through to 1 June 2009, versus a loss of 32 per cent in the broader market as represented by the S&P/ASX 200 Index. This recent performance tops a decade of strong returns – the value of an ounce of gold has increased almost four-fold in the past 10 years with the steepest ascent between mid 2007 and March 2009.
Super funds man frontline in war on mental illness
As Australia’s unemployment rate continues to climb, depression and, tragically, suicide, threaten to become larger social problems.
Our superannuation funds stand uniquely poised to help – they are in direct contact with most of Australia’s working population, and as providers of life, TPD and income protection insurance, they benefit on many levels from combating mental illness.
Last month, Investment & Technology brought together a roundtable of super fund executives to both share their experiences in this effort, and learn more about the tools available to them – in particular, the Industry Funds Forum initiative, SuperFriend.
The executives also had the chance to learn from two generals in the war on mental illness, from the National Advisory Council on Mental Health and Lifeline. Comminsure, whose pioneering work with SuperFriend you can also read about below, kindly sponsored the event.
brought to you by:
Super funds man frontline in war on mental illness
As Australia’s unemployment rate continues to climb, depression and, tragically, suicide, threaten to become larger social problems.
Our superannuation funds stand uniquely poised to help – they are in direct contact with most of Australia’s working population, and as providers of life, TPD and income protection insurance, they benefit on many levels from combating mental illness.
Last month, Investment & Technology brought together a roundtable of super fund executives to both share their experiences in this effort, and learn more about the tools available to them – in particular, the Industry Funds Forum initiative, SuperFriend.
The executives also had the chance to learn from two generals in the war on mental illness, from the National Advisory Council on Mental Health and Lifeline. Comminsure, whose pioneering work with SuperFriend you can also read about below, kindly sponsored the event.brought to you by:
Going Passive
Insto investors question active management
Never before, or at least never in living memory, have super funds faced such uncertainty as in the past 12 months. But with signs of recovery emerging for both markets and the global economy, trustee boards are feeling that it is safe to get back into the water. Most have been sitting on cashflow build-ups and have recovered a good part of their Aussie dollar hedging losses from last year.
The big question now is: what to invest in? If you believe in the recovery and mean reversion then this could be the best beta play of all time. On the other hand, active managers claim the markets represent a stockpicker’s paradise. The old active versus passive debate has returned with a vengeance. SIMON MUMME and GREG BRIGHT report.
Going Passive
Insto investors question active management
Never before, or at least never in living memory, have super funds faced such uncertainty as in the past 12 months. But with signs of recovery emerging for both markets and the global economy, trustee boards are feeling that it is safe to get back into the water. Most have been sitting on cashflow build-ups and have recovered a good part of their Aussie dollar hedging losses from last year.
The big question now is: what to invest in? If you believe in the recovery and mean reversion then this could be the best beta play of all time. On the other hand, active managers claim the markets represent a stockpicker’s paradise. The old active versus passive debate has returned with a vengeance. SIMON MUMME and GREG BRIGHT report. Cbus puts risk back on the table… slowly
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The $13 billion Cbus is looking to gradually increase the amount of risk within its portfolio, hiking its allocation to equities over the next six to 12 months. Trish Donohue, investment manager at Cbus, said the fund had not yet reallocated the money redeemed from the international equities mandate terminated with AllianceBernstein earlier this year, however in line with its strategy it would be looking to “gradually increase exposure to equities over the next six to 12 months”. Cbus moved to a more defensive position in the lead up to the global financial crisis, increasing its allocation to cash and underweighting its allocations to equities.
Cbus puts risk back on the table… slowly
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The $13 billion Cbus is looking to gradually increase the amount of risk within its portfolio, hiking its allocation to equities over the next six to 12 months. Trish Donohue, investment manager at Cbus, said the fund had not yet reallocated the money redeemed from the international equities mandate terminated with AllianceBernstein earlier this year, however in line with its strategy it would be looking to “gradually increase exposure to equities over the next six to 12 months”. Cbus moved to a more defensive position in the lead up to the global financial crisis, increasing its allocation to cash and underweighting its allocations to equities.
