A new report “from the coalface” of super fund investing has gone some way to quantifying the cost of shonky investment management, with members potentially losing out on hundreds of thousands of dollars.
Surging equity markets have driven the Future Fund’s return higher, but its prediction that inflation will be stickier than expected has been born out and it “remains conscious of the potential for significant deterioration”.
Perkins and Filippelis depart BNP, BNY Mellon
Two senior marketers have left their firms this month, Ian Perkins at BNP Paribas Securities Services and Phillip Filippelis from BNY Mellon Investment Management, both based in Sydney. Neither was free to comment last week.
Perkins had been with BNP Paribas Securities Services since early 2014, most recently as ‘head of asset owners’ for Asia Pacific, looking after big pension funds and sovereign wealth funds. He was a co-founder of Morse Consulting, in 2005, and led that firm’s expansion into Asia. Morse was acquired by Deloitte in 2016, after the firm had acquired the US-based investment management industry business consulting firm Casey Quirk a few months earlier. Prior to starting Morse, Perkins had senior marketing roles with the former RBC Dexia and State Street.
Filippelis was the Australia country head of BNY Mellon Investment Management since early 2015. Prior to that he was the managing director of Angelo, Gordon & Co, an American global credit and real estate manager, and prior to that a managing director and head of distribution for Asia Pacific at Societe Generale’s investment management arm.
Filippelis took BNY Mellon into the retail market in Australia in 2018 through a joint venture with Pinnacle Investment Management.
– G.B.
