With more and more money to invest every year, the megafunds think their future lies offshore. That leaves plenty of homegrown opportunities for the likes of the $32 billion Brighter Super.
Its outsized performance means that private credit is probably the asset class of the decade. But is that performance a real standout, or “more sizzle than steak”?
Megafunds might be thought of as lumbering beasts of the ASX, but taking advantage of market dislocations means moving pretty quickly. “Size, scale and power” in manager relationships helps.
India might be a matter of “when, not if” for Australian super funds, but the Maple Eight and other Canadian pensions are well ahead on investing in what will soon be the world’s third largest economy.
The big institutional investors that have thrown their weight behind the transition can’t get enough wind and solar. But that means a lot of money is now chasing a small chunk of global emissions, according to Kerogen Capital.
KPMG’s latest Super Insights report shows the future shape that the industry might take, with distinct cohorts of funds now emerging across size and service. But there’s little positive sentiment to be found about funds online.
It’s been one of the most disappointing regions in the world in terms of performance, but Pzena Investment Management thinks China’s bombed-out equity market presents “a real win opportunity”.
The chief of BNP Paribas’ local securities services division expects that the period of heated competition that followed the exit of NAB Asset Servicing will continue, with custody banks leveraging their offshore footprints and private markets capabilities in the fight for new business.
While Australian Retirement Trust thinks massive scale makes offshore investing a must, not every fund wants to join the jet set, and UniSuper thinks there’s still plenty of opportunities to be had at home.
Equities are surging as asset allocators come to grips with the market environment and private markets are going backwards, according to bfinance, while fears of an ESG “backlash” appear overstated.
