The asset consultant will modify its team composition in response to shifting client demand and build out its younger ranks as it executes on its new five-year plan.
It’s temping to dismiss the super for housing debate out of hand. But if funds and trustees refuse to engage with that debate it will inevitably be settled without them, with a deleterious impact on retirement savings.
BNP Paribas’ securities services division has had a big win after being brought in to keep the preferred candidate honest on price during the tender process for MLC.
A panel of experts has pointed to energy, illiquid assets and retirement income as three areas where super funds need to lift their game, with stakeholders expecting the “huge amount of capital” now in the system to contribute to Australian society.
Following a significant technology and systems uplift, Rest feels it’s ready to do global equities in-house. That doesn’t necessarily mean its roster of external managers will lose out.
From little things big things grow, and the $75 billion industry fund hopes the impact investment commitments it and other funds have made will expand beyond their initial targets in the same way renewables did.
The outgoing chair of Australia’s sovereign wealth fund has come out swinging against “self-styled experts” with “foolhardy schemes” to spend the $200 billion it manages, warning that winding up the Future Fund will leave the government – and future generations of Australians – worse off.
For the last decade, equities (repackaged and otherwise) have reigned supreme. But in a market where everything might soon start to break, investors have to be more nimble.
The “well-intentioned and genuine” claims super funds made about their sustainable bona fides have landed them in the regulators’ crosshairs. They’re going to have to figure out how to actually follow through on them if they want to win the battle for members’ retirement savings.
The $75 billion industry fund is creating an “active, fundamental stock-picking” internal global equity capability and has lined up a former Comgest portfolio manager to oversee it.
