Policy and Regulation

Rubin: bed down reforms

The superannuation industry has to bed down the raft of regulatory reforms, says Elana Rubin, former chair of AustralianSuper. “I appreciate that government undertakes regulatory reform with the very best intentions, but from a member perspective, it can often reduce confidence in the system. And while it may not affect them directly, they read about […]
Investment Strategy

The custodian of the future is already here

In the so-called Year of Big Data, the “custodian of the future” is already here and working in the Australian market, according to Northern Trust country head, Rohan Singh. Singh, whose firm has $140 billion under custody and administration across Australasia, says that custody has already changed from a commodity to a value-added service, and […]
Investment Strategy

Link snaps up administrator PSI

Link Group has acquired PSI Superannuation Management in a private transaction that makes Nationwide Superannuation Fund a new client of its administration business, Australian Administration Services (AAS). The eight shareholders in PSI, which are based in New South Wales’ Hunter region and have owned the superannuation administrator since 1987, sold instead of improving the business […]
Investment Strategy

Super funds seek J. P. Morgan advice

When Robert Bedwell was talking to J. P. Morgan Chase about a new job that would help manage relationships with the bank’s biggest asset management customers, he was concerned that he would not get the cooperation of the 1,400 people in Australia and New Zealand working for the company. Bedwell fears have not been realised. […]
Investment Strategy

Superpartners CEO to quit

Greg Camm, the chief executive of Australia’s biggest superannuation back-office company, says he will quit at the end of August, the Australian Financial Review reported. Citing a letter written by Camm, the newspaper says the CEO is leaving when his contract expires as he is unable to commit to another four or five years at […]
Investment Strategy

Oversight lacking in fund outsourcing

Asset managers have outsourced a lot of functions but in many cases have not gleaned the efficiencies they had hoped, says Geoff Hodge, chief executive of financial software firm Milestone Group. “Outsourcing takes more resources than initially thought,” says Hodge. “Some fund managers thought they had outsourced 100 people but have found they have got […]
Investment Strategy

AAS targets state super funds, mutual trusts

Link Group is seeking to win the administration contracts with state superannuation funds and retail master trusts may be future customers for its administration services unit AAS. After investing about $150 million in its technology systems, the Retail Employees Superannuation Trust, a $20 billion fund with 1.9 million members, renewed its administration contract with AAS […]