Active Super and Vision Super are now entering the home stretch of a drawn-out merger process that will create a new $29 billion fund with 170,000 member accounts.
The NZ Superannuation Fund has made half-a-dozen fresh investments over the previous few months across an eclectic range of strategies including US timber, a quant trend-follower and a life science specialist.
State Street launches Global Exchange for better data management
State Street has formed a new division, Global Exchange, which aims to provide clients with easier access to solutions – particularly in data management – and accelerate new product development. Jeff Conway, a 25-year State Street veteran, will head the new organization.
Conway, who is a keynote speaker at next week’s IO&C Conference in Shanghai, is currently Boston-based executive vice president and global head of investment manager services. He has also previously headed up various securities services businesses for State Street in Europe and Australia.
Global Exchange will include existing components from the company’s research and advisory, analytics, Currenex, Global Link and derivatives clearing capabilities.
He said: “In a survey we conducted last year with the Economist Intelligence Unit, the issue of data integration was at the forefront of clients’ operational challenges. Nearly half (46 per cent) of asset owners rated their ability to achieve a comprehensive look-through of their portfolio across all security types and investment structures as less than good.
“And over the next three years, almost two-thirds (63 per cent) of asset owners surveyed expected their data management challenges to increase. We believe we are assembling the right combination of technology, expertise and platforms to help solve these challenges.”
Conway will report to Jack Klinck, head of global strategy and new ventures. Klinck said clients wanted access to real-time data and analytics to better inform their investment and trading decisions because of regulatory reform, complexity and the desire for transparency.
“Our goal is to support clients. Trade lifecycle from investment decision to post-trade administration, minimizing trading and operational costs,” he said.
