News

Kim Catechis “Nobody likes their index but ours is getting less meaningful,” says Kim Catechis, the head of global emerging markets for Martin Currie Investment Management. The common indices are no longer “fit for purpose” and they are about to be swamped by the inclusion of China, no matter how gradual the process. Catechis and…

Paul Hatfield  The global hunt for yield is having some interesting knock-on effects in corporate debt issuance, especially internationally and especially in Europe. ‘CCC’-grade issuance is at record levels because ‘the companies have been able to get away with it’. Here’s the opportunity. Paul Hatfield, the chief investment officer at the specialist credit manager Alcentra…

Mark Clancy  Cyber attacks on businesses, particularly financial services businesses, are grabbing big headlines with increasing frequency. Are the threats really so ominous? Mark Clancy provided an objective, almost calming, perspective in Australia last week. Clancy, the chief executive of the industry-supported initiative Soltra, was in Australia last week to speak at the regular Omgeo…

Jeff Bresnahan by Jeff Bresnahan* At the annual SuperRatings Awards dinner in Sydney last week, the research firm’s founder outlined four major issues the industry should address: fee obsession, insurance ‘ambulance chasers’, over-regulation of governance and forced fund mergers. This is an edited version of his speech. This is a night to celebrate the industry’s…

David Saunders by Greg Bright We’ve heard a lot about the recent stellar rise in demand for the so-called ’40 Act’ liquid alternatives funds in the US. Well, here is how the trend is playing out in Australia. Surprisingly, big super funds are beneficiaries. According to David Saunders, the founder and managing director of K2…

Brian Langstraat With most big super funds having to write out cheques to the ATO for the financial year just ended, for the first time since the global financial crisis, the topic of after-tax investing – forever it seems on the backburner – is coming again to the fore. But for Parametric Portfolio Associates, the…

Michael Monaghan State Super Financial Services is spreading its wings. The NSW Government-affiliated 160-planner advisory group, which has $16 billion in its investment funds and the country’s fourth-largest allocated pension, is looking for new like-minded ‘partners’. It has also changed its name. Now called StatePlus, the business is owned by the $35 billion closed defined…

Emilio Gonzalez and David Knox David Knox, the winner of the inaugural BTIM Retirement Innovation Award, credits a lot of people from a range of disciplines – “not just the actuaries” – for the successful construction of Mercer’s industry-first retirement product. The Mercer Lifetime Plus Longevity Solution is a pooled account-based investment option with income…

Paul Hennessy In what may be a sign of things to come in Australia, Capital Group has signed a distribution and product co-operation agreement with Samsung Asset Management in Korea. The US-based global manager has previously signalled its desire to aggressively expand its reach in Asia Pacific. Under the agreement announced last week, Capital and…

Tony Hildyard PIMCO’s man in New Zealand, Tony Hildyard, will leave the business by year’s end as the global fixed income firm ditches third-party distribution in Australasia. Adrian Stewart, head of PIMCO Australia and New Zealand, said Sydney-based Matthew McLenaghan would assume Hildyard’s NZ client responsibilities over the coming months. “Over the past year PIMCO…

A small Auckland-based superannuation scheme aimed at UK pension transfers has frozen after its eco-friendly investments turned nasty. According to its latest financial accounts, the GBP International super fund suspended all redemptions citing the inability to “access the valuation” of the underlying funds managed by Isle of Man-based investment firm the Premier Group. The GBP…

Bill Gross by Greg Bright The drama surrounding the PIMCO founder’s departure has resurfaced, revealing extraordinary excesses in pay and greed at the firm. Just when Bill Gross seemed to have settled into his new role at a little-known competitor, he has hit the company he founded with a US$200 million lawsuit. The detailed claim…