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Industry Funds Management (IFM) has built an internal system to automatically evaluate the tax implications of its investment decisions – before trades are executed – across its active and passive Australian equities funds. Dubbed ATLAS, the after-tax listed Australian securities system draws on a database of trading data already stored by IFM to identify the impacts that trades will have on the franking credits and capital gains tax (CGT) liabilities tied to shareholdings. “We can analyse, pre-trade, the full after-tax consequences of a transaction,” Aidan Puddy, executive director – listed equities at IFM, said.
The funds management industry is in trouble. Of that there is little doubt. Head count among the major managers has been cut by at least 10 per cent, according to a Watson Wyatt report last month. Among hedge fund managers, the head count is down an average 20 per cent. And the worst is yet to come, from the funds managers’ business perspective. 
One of Ian Silk’s favourite quotes about the 2006 merger between STA and ARF is that “the planets were in alignment”. Perhaps a minor astrological miracle is what it takes for a super fund merger to get up these days, because nothing remotely comparable to the $20 billion get-together that created AustralianSuper has happened since. 
Working with doctors and administrators to improve the group insurance experience
