As the financial services sector of the share market heads back towards its 1980s share of about 10 per cent of total market capitalisation, compared with the peak of 40 per cent in 2006, one could be forgiven for wondering about the fundamental value proposition presented by banks, funds managers and insurers. It is well documented that funds managers as a whole do not add value; that’s why there are index funds. But a sufficient number do and their names change often enough for that industry to expand.
When the cure may be worse than the illness
As the financial services sector of the share market heads back towards its 1980s share of about 10 per cent of total market capitalisation, compared with the peak of 40 per cent in 2006, one could be forgiven for wondering about the fundamental value proposition presented by banks, funds managers and insurers. It is well documented that funds managers as a whole do not add value; that’s why there are index funds. But a sufficient number do and their names change often enough for that industry to expand. Nothing ‘socialist’ about bailout opportunities for super
There’s been a lot of comment this extraordinary month about whether the American model of capitalism is dead. I don’t think there’s anything red about the opportunities that Wall Street’s implosion will present for those who can provide liquidity. The desperation to replenish balance sheets could be felt in talk doing the rounds last week that a certain local institution, ravenous for new capital, had resorted to issuing paper into its own cash funds.
Nothing ‘socialist’ about bailout opportunities for super
There’s been a lot of comment this extraordinary month about whether the American model of capitalism is dead. I don’t think there’s anything red about the opportunities that Wall Street’s implosion will present for those who can provide liquidity. The desperation to replenish balance sheets could be felt in talk doing the rounds last week that a certain local institution, ravenous for new capital, had resorted to issuing paper into its own cash funds. Super fund salaries: How they stack up
The ‘brain drain’ is the sociological phenomenon typically associated with developing nations, in which a country’s best and brightest leave home to seek opportunities and fortunes abroad. The so-called ‘diaspora’ of talented Australians, that has been lamented in the arts and sciences, can now be observed in financial services; it is no secret that literally hundreds of aspiring finance professionals have been lured by the global centres of New York and London.
As the current generation of superannuation executives approach retirement, recruiters have expressed concern that the unglamorous salaries of industry and public-sector super funds might not be enough to seduce the world’s top investment professionals, Australian or not,into stewarding the nation’s retirement assets. While it is generally agreed that Australia’s superannuation system is the envy of the world, the remuneration of its executives is anything but.
Super fund salaries: How they stack up
The ‘brain drain’ is the sociological phenomenon typically associated with developing nations, in which a country’s best and brightest leave home to seek opportunities and fortunes abroad. The so-called ‘diaspora’ of talented Australians, that has been lamented in the arts and sciences, can now be observed in financial services; it is no secret that literally hundreds of aspiring finance professionals have been lured by the global centres of New York and London.
As the current generation of superannuation executives approach retirement, recruiters have expressed concern that the unglamorous salaries of industry and public-sector super funds might not be enough to seduce the world’s top investment professionals, Australian or not,into stewarding the nation’s retirement assets. While it is generally agreed that Australia’s superannuation system is the envy of the world, the remuneration of its executives is anything but. Perignon takes funds management skills to the bank
The Sydney arm of a global investment bank has attracted Matthew Perignon away from Challenger Financial Services, to become a director of its securities division.
Big opportunity for Aussie LPT managers as NZ fund searches
The ASB Community Trust, an Auckland-based philanthropic foundation with NZ$1.1 billion under stewardship, wants to increase its property allocation by 150 per cent.
Russell imports new asset consultant
Russell Investments has expanded its asset consulting team with a recruit from South African financial services business Alexander Forbes.
BTIM product managers walk to competitor
Three resignations have been submitted to BT Investment Management (BTIM) amid a recent restructure that terminated 10 roles.
Intech attracts more QICers, pushes dynamic asset allocation
Intech Investments has hired BT Investment Management’s former head of quant analysis to run a new dynamic asset allocation capability, while a husband-and-wife team of senior QIC investment professionals has also joined the fold.
Hedge fund-of-funds swoops on displaced execs
Investment banks shedding staff has helped the $15.5 billion hedge fund-of-funds manager, Gottex Fund Management, pick up three senior executives this year.
