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Super funds are at a critical juncture
in terms of investment strategy and the winners over the next decade will be those
who can take advantage of stress in the markets and buy assets quality assets
cheaply. Ken Marshman, head of investment outcomes at JANA, said whereas there may
have been two tailwinds over the last decade, there are now two serious headwinds
which could have a substantial impact on returns that are likely to be gained
from traditional asset classes. “The real question about the next decade is;
will it be a mirror of what has happened over the last 20 or 30 years, or are
we in quite a different paradigm?” he 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
