government’;

Hedge Funds

Infrastructure needs super

A cap on both fund manager fees and investor returns is the key to overcoming state government caution on infrastructure deals, according to Garry Weaven of Industry Funds Management (IFM). Speaking to investors at an Australian Institute of Superannuation Trustees event in Sydney, Weaven outlined a proposal in which a fund manager, such as IFM, […]
Opinion

Chris Cuffe on the custodian council

The chair of UniSuper, Chris Cuffe, says Labor’s proposed custodian council should be an experienced, independent group with a long-term focus, the members of which should have no commercial interest in the superannuation industry. Cuffe commended the proposals recently announced by Bill Shorten, minister for superannuation and financial services, but said the concept could be enhanced, […]
CMSF

Board independence under Q&A microscope

Not unlike a typical edition of ABC’s Q&A, host Tony Jones moderated a robust discussion on yesterday’s Super Q&A panel. Opening CMSF 2013, the panel debated a potential leadership spill in Labor, super reform fatigue and executive pay disclosure. Perhaps most controversial was the debate on equal representation on boards, with Garry Weaven, chair of […]
Investment Strategy

Hedge funds wait for regulatory certainty

Uncertainty around the implementation of the third part of the Federal Government’s Investment Management Regime (IMR) legislation is creating a lack of clarity for the operations of global hedge funds in Australia, according to Ernst & Young’s Antoinette Elias. Speaking to I&T News after the release of a global survey of 100 hedge fund managers, […]
Investment Strategy

VFMC’s first quarter breaks benchmark

Victorian Funds Management Corporation, the fund for the state’s public authorities, increased its funds under management by $1.8 billion to $36.8 billion in the three months to March 31 after its stock, infrastructure and bond investments all performed well. The Melbourne-based fund said in a statement that half its assets are invested in shares in […]
Investment Strategy

Shorten, FSC spar over budget

Australia’s budget was a disappointment for asset managers, according to the Financial Services Council (FSC). The government disagrees, saying its policies have improved fairness, sustainability and efficiency in superannuation. Asset managers, like many who run companies, expected a tax cut in the budget, says Martin Codina, director of policy at the FSC. The lack of […]
Investment Strategy

Future Fund appoints David Gonski chairman

David Gonski, said by many to be the best-connected man in corporate Australia, will become chairman of the $73 billion Future Fund next month. Founded in 2006 to meet public sector superannuation liabilities, the fund has averaged 4.2 per cent returns per annum. The 58-year-old Gonski will assume the role at the Melbourne-based fund on […]
Investment Strategy

Steve Harker next Future Fund chairman

Steve Harker, who has been head of Morgan Stanley in Australia for 14 years, is to be appointed chairman of the $73 billion Future Fund, says a person familiar with the matter. The 56 year-old Harker has been head of the Wall Street firm’s Australian business since 1998. He joined New York-based Morgan Stanley from […]
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