PwC

Hedge Funds

Benchmarking urged for internal teams

Funds managing assets in-house should report to their members on how these assets have performed versus properly constructed market based benchmarks, according to an advisor at PwC. David St. John, urged an audience of 37 institutional investors to raise their standards of reporting voluntarily, but said that if this did not happen then regulatory intervention […]
Hedge Funds

New proposal for defining a defensive asset

Defensive assets should be determined on an individual asset basis, rather than on an asset class level, delegates heard at the Conexus Financial Fiduciary Investors Symposium. Paul Caskey, chief investment officer of the South Australian work injury insurance scheme ReturnToWorkSA, presented a new formula for helping to determine which funds could be included in the […]
Investment Strategy

PWC sees tech as a threat to super

PwC “certainly” sees digital disruption as a threat to superannuation in a new age of digital business. Speaking on a panel at FEAL’s annual conference in Melbourne Chuck Lyman, partner at PWC, outlined how easy it has become to start a fintech, with the cost over the past five years dropping from $5 million to […]
Opinion

IOOF head admits issues of misconduct were withheld from the regulator

IOOF’s chief executive Chris Kelaher has confirmed the company did not lodge ASIC breach reports for a number of issues, despite evidence of misconduct inside its research division. Kelaher fronted the Senate Economics References Committee in Macquarie Street, Sydney yesterday, facing stiff questioning about his knowledge of alleged misconduct within its research division. The Senate […]
Hedge Funds

Definition of ‘growth’ distorts performance tables

Funds are being accused of gaming the success of their MySuper products by understating the level of growth assets. Analysis by PwC of the strategic asset allocations for 30 funds in the SuperRatings SR 50 Balanced (60-76) index per cent survey has shown a wide variety of interpretation for growth assets. The implications are large. […]
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