outsourcing

Industry View

An operational revolution

The Australian superannuation industry has been placed under tremendous pressure from a variety of directions. In recent years it has suffered countless government inquiries into fees charged to members. As guardians of national wealth, some of this attention is expected. In response, industry funds now have an opportunity to prepare for the future and end […]
Hedge Funds

Internal management to become the norm at large funds

No pension fund in the world has yet insourced the entirety of its fund management or is planning to do so, shows analysis from JPMorgan. Benjie Fraser, managing director and global pensions executive at JPMorgan, speaking at an Investment Management Consultants Association (IMCA) seminar tracked the steady growth in the world’s largest pension funds to […]
Investment Strategy

Lally looks back at Sunsuper

Tony Lally has resigned from his position as chief executive of Sunsuper, citing the desire to pursue non-executive director roles following six years at the helm. He told Investment Magazine that he achieved everything he’d set out to. “When I joined it was very much a run-of-the-mill industry fund, but the work I’ve done over […]
Custody

The incredible expanding world of custody

A central, if often overlooked feature of Australia’s super funds is that they have, for a very long time, worked closely with external service providers in their pursuit of world best practice. In relation to custody and securities services, this is a very sensible approach. The scale, geographic reach, and massive investment in technology of […]
Investment Strategy

Perpetual, Bain trimming costs

On the 16th floor of Perpetual’s Sydney headquarters there are about a dozen people seeking to find ways to produce “further meaningful cost reductions” at the trustee and asset manager, says a person familiar with the matter who spoke on condition of anonymity. The cost reduction team, made up of about six people each from […]
Investment Strategy

Perpetual CEO Geoff Lloyd’s iron fist in a velvet glove

Perpetual Ltd. chief executive Geoff Lloyd was listening patiently to a homophobic rant. Henri Aram, who says he is “close to 90” years old, was railing against “same sex marriage.” “It’s a very, very substantial problem,” says Aram, who arrived in Australia in December 1938 to escape the Holocaust. He says he has held stock […]
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 […]
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