Strong super returns are about to encounter significant headwinds. And with the government prowling for more money, funds might once again foot the bill. It’s no secret that market conditions have been enormously supportive over the last decade – and that super has been one of the biggest beneficiaries of those conditions, particularly through 2020,…
Active manages have failed to heed changing times – and changing markets. But while Hyperion doesn’t do “concept stocks”, it’s got its eyes on plenty of disruptors. The great elephant in the room for active managers has been their inability to outperform the index long-term. Around 93.4 per cent of international equity managers and 86.3…
Boutique fund manager Pella has nabbed a trio of high-profile names for its advisory board as the ex-Pengana crew shop their proposition to the institutional market. Debbie Alliston, former chief investment officer for AMP Capital’s Multi-Asset Group and head of portfolio management, has joined the advisory board of Pella Funds Management. Alliston was with AMP…
It’s all coming up roses for the asset class, which is set to benefit from rising inflation and global spending programs. A boom delayed is still a boom. The delta variant stymied reopening plans and the fiscal stimulus expected to accompany them, but listed infrastructure investors will breathe easier as government spending finally goes ahead….
The trend towards super consolidation is continuing apace, but there will be fewer mega mergers. It’s now just a matter of mopping up. Mega fund mergers are likely to slow as boards realise the “significant transition planning and integration activity” required to pull them off – but the established mega funds will continue to gobble…
They might be behemoths at home, but Australia’s biggest super funds will be on the backfoot as they scour the globe for investment opportunities. NAB’s biennial FX Hedging survey is not only a good insight into super fund hedging strategies, but the state of the industry itself – particularly its growing interest in markets beyond…
A time of great change is upon global markets – and the ‘winners’ that everybody is backing might not be the winners at all. It’s essentially an orthodox view among fund managers that the incumbents in any industry will “win” the transition to green energy. After all, they already have the infrastructure in place, stable…
The backyard keeps shrinking. And as another big asset disappears from the public market, Australian listed infrastructure investors will have few options but to look abroad for their exposure. The sale of Sydney Airport has generated plenty of headlines about the might of big super funds; no shortage of acrimony about another of Australia’s sparse…
When Richard Elmslie and Nick Langley started RARE, listed infrastructure “didn’t exist”. They hit the ground running – but that doesn’t mean there weren’t speedbumps. “We started with no revenue and no people – it was an idea,” says Richard Elmslie, managing director and co-founder of RARE Infrastructure (now ClearBridge Investments, following its integration with…
With markets as frothy as they are, you need to find the misfits – and play your cards close to the chest. It helps to be away from the pack. It often takes an outsider to reveal the idiosyncrasies of Australian society. The same can be true of its financial services. Adam Leitzes, founder and…
