AustralianSuper has been trimming its bond portfolio as a portion of total assets on the expectation that global interest rates have peaked. Head of fixed income, currency and cash Katie Dean says she draws on her background as an economist to meet the challenges of managing a $50 billion portfolio for the nation’s largest super fund.
Somewhat similar to Australia’s increasingly concentrated superannuation space, the $6 trillion Canadian pension market is dominated by the so-called Maple 8 public pension funds, whose model has long provided stellar learning materials for the world. But OMERS chief executive Blake Hutcheson, overseeing a Maple fund, questioned whether bundling them all together is appropriate.
Super funds have recouped some of the April losses in May and pushed the financial year to date (FYTD) return for balanced funds to 8.1 per cent, according to research house SuperRatings.
State Street has become the custodian and administrator of the $30 billion Brighter Super.
While it might not be enough to win government for the Coalition, the controversial policy allowing first home buyers to draw on super is emerging as a populist success that could reshape the ‘super wars’ forever. The industry needs to win hearts and minds on the concept of preservation or be willing to accept a more flexible retirement system.
The Fiduciary Investors Symposium in Toronto heard from four leaders who were instrumental in making the so-called “Canadian model” of institutional asset ownership what it is today. More than 40 years later, they are concerned the sound principles of the nation’s lauded pension system are under attack and need to be defended.
The Guardians of Kiwi sovereign fund NZ Super has appointed Alex Bacchus as acting chief investment officer amid Stephen Gilmore’s departure to CalPERS.
Scott Hartley, chief executive of Insignia Financial, the nation’s largest retail fund provider, has called for amendments to the fee deduction rules proposed by the government in its bill acting on the Quality of Advice Review. The government quietly made changes to the explanatory memorandum last week, but critics maintain the bill, as drafted, places additional supervision obligations on superannuation trustees and adds costs for members.
AustralianSuper and UniSuper are among the funds that have leapt at the opportunity to buy the Australian government’s first green bonds issue, as investors seek ways to further tap into the sustainable finance market.
Northern Trust has expanded its relationship with the NZ Super Fund to provide data services via its Data Warehouse Solutions offering.
The Future Fund and QIC have acquired an interest in the EastLink toll road network sold by New Zealand Superannuation Fund and Teachers Insurance and Annuity Association of America, advised by its investment advisor Nuveen Infrastructure.
Health industry fund HESTA has appointed Alissa Knight to the newly created role of general manager strategic planning, effective from 11 June.
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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