debt

Investment Strategy

Super funds to act as Australian lenders

Super funds could join the big four banks as a major lender to Australian companies over the next few years. The impact of Basel II reforms, which require banks to hold greater amounts of capital for their riskier loans, has encouraged banks to seek partners for certain loans which have come up for re-financing since […]
Investment Strategy

Equity markets fair value at current prices

Two of Australia’s biggest institutional investors have called current equity markets fair value despite a year-long spike in prices. Both AustralianSuper and the Future Fund acknowledge the susceptibility of markets to bad news around high government debt in developed markets, but are not nervous about valuations. Innes McKeand head of equities at Australian Super, said: […]
Hedge Funds

Economic growth no proxy for equity performance

Two emerging markets specialists have explained why developed market equities are outperforming countries such as China. Anne Richards, global chief investment officer at Aberdeen Asset Management, said economic growth was not a proxy for equity market performance, with the MSCI Emerging Markets Index severely underperforming the MSCI World Index in the last 12 months despite […]
CMSF

“EU will survive no problem”,
US in recovery

The European Union will survive and the US economy will bounce back, according to international experts speaking at a CMSF plenary session. Andreas Huebner, senior managing director of Lazard, said the “EU will survive no problem” but acknowledged there was a long way to go, with economic fundamentals still weak. He sees the real problem […]
Retirement

REST survey calls for super rethink

How we look at retirement is due for government review, says REST Industry Super chief executive Damian Hill, as new research shows a generation of Baby Boomers grossly underprepared for the next phase. “The government has certainly flagged that it wants to engage in that sort of conversation to paint that part. We’ve been very […]
Investment Strategy

IFM: Infrastructure-debt opportunities abound

Attractive spreads of more than 300 basis points above the bank-bill swap rate have seen increasing interest from investors in infrastructure debt, according to Industry Funds Management’s (IFM) head of debt investment, Robin Miller. Miller’s team recently finalised a $90-million debt investment in a senior secured-debt facility to refinance the debt of ConnectEast, owner and […]
Investment Strategy

Private equity beats the stock market

Private-equity returns have outperformed investments in the stock market over the past decade, according to Cambridge Associates’ Australia Private Equity and Venture Capital Index. In the 10 years to December 31, 2011, Australian private-equity net returns were 7.5 per cent per annum. The S&P/ASX 300 Accumulation Index rose 6.1 per cent per year during the […]
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