AustralianSuper calls for data protocols

Custodians and superannuation funds should establish clear protocols for the transfer of market data, says Jason Cotter, commercial manager of investments at AustralianSuper. Doing so will not only lead to reduced costs across the industry, but also prevent external companies from poaching business. Speaking at last week’s Investment Administration Conference in Sydney, Cotter said either […]
Investment Strategy

$5bn in BNP Paribas custody mandates go to tender

One week after becoming custodian to the $1.3-billion AvSuper, BNP Paribas is competing to keep two superannuation fund mandates totalling more than $5 billion. The $4.5-billion Australian Catholic Superannuation Retirement Fund (ACSRF), BNP Paribas’ second largest super fund client, and the $580-million Health Industry Plan (HIP) are assessing bids from custodians wanting to manage their […]
Investment Strategy

Custody isn’t all about price, says First State

Custodians should present information in a simplified way so that trustee fund boards can make decisions promptly, says Graeme Arnott, chief operating officer at First State Super. “Custodians must de-emphasise price and emphasise services,” says Arnott, a former custodian himself. Arnott says he wants “healthy competition” and isn’t fixated on price when deciding on custody […]
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

REST CEO Damian Hill contradicts Roy Morgan

REST Industry Super, the $21 billion fund for the retail industry, says its 2 million members are largely satisfied with the fund’s performance and its service, contradicting a Roy Morgan Research report that says “customer quality measures for REST are considerably lower than the industry average”. “That finding is not reflective of the benchmarking we’ve […]