prime

Investment Strategy

Sole purpose test does not apply to trauma: Prime Super

Prime Super’s move to offer trauma insurance to members as an additional product alongside the fund’s investment options was not required to meet the sole purpose test because the fund was the distributor, not the manufacturer, of the policies. An I&T News story covering Prime’s trauma insurance offering, published in late July, drew responses from […]
Investment Strategy

Sole purpose test does not apply to trauma: Prime Super

Prime Super’s move to offer trauma insurance to members as an additional product alongside the fund’s investment options was not required to meet the sole purpose test because the fund was the distributor, not the manufacturer, of the policies. An I&T News story covering Prime’s trauma insurance offering, published in late July, drew responses from […]
Administration

BNP Paribas did its own thing…and now so will Citi

Citi is making a renewed bid for fund administration business in Australia, off the back of localising its Multifonds accounting platform as part of a worldwide middle-office deal with Dimensional Fund Advisors, and the relaxing of competitive tensions which occurred when BNP Paribas Securities Services Australia (another fund administrator) stopped using Citi’s global custody network […]
Administration

BNP Paribas did its own thing…and now so will Citi

Citi is making a renewed bid for fund administration business in Australia, off the back of localising its Multifonds accounting platform as part of a worldwide middle-office deal with Dimensional Fund Advisors, and the relaxing of competitive tensions which occurred when BNP Paribas Securities Services Australia (another fund administrator) stopped using Citi’s global custody network […]
Administration

The 85 bps that buys you control over hedge funds

Managed accounts are costlier upfront for hedge fund investors than traditional unit trust structures. How­ever, a war story from the start of the credit crisis illustrates that the structure may save an investor from catastrophic losses in the long run. In August 2007, Paris-based Capital Fund Management informed investors in its Discus managed futures fund […]
Administration

The 85 bps that buys you control over hedge funds

Managed accounts are costlier upfront for hedge fund investors than traditional unit trust structures. How­ever, a war story from the start of the credit crisis illustrates that the structure may save an investor from catastrophic losses in the long run. In August 2007, Paris-based Capital Fund Management informed investors in its Discus managed futures fund […]
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