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”.
Mercer recruits for trust sales
(Pictured: Wes Palmer)
After 15 years in asset servicing and custody, Wes Palmer has transitioned to broader investment sales and marketing, taking up a position at Mercer as a principal in the financial services division.
The Melbourne-based position involves sales for the $17 billion Mercer super trusts, corporate super and administration.
Palmer, a former British army officer, spent the past five years at RBC Investor Services and the previous 10 years at NAB Asset Servicing, both as a senior sales executive.
RBC closed its Melbourne office last October and the staff who did not want to move to Sydney were made redundant. Palmer was retained, however, until the end of January to tidy up some loose ends with two new deals for the firm.
