News

Hedge funds struggled again in 2023 as aggregate mediocre performance coincided with net outflows, a new report reveals, while most remain well below the global equity index over the last five years.

Even the biggest fund managers have to change with the times, and the US$750 billion Fidelity is staring down a world that’s moving beyond the traditional investment landscape in which its business was built.

A dearth of member data is “hindering progress” against the retirement income covenant and more than $145 billion of member money might be better off in guaranteed lifetime income products, according to new research.

The $85 billion industry fund has picked up a new head of stewardship with a “wealth of experience” from BlackRock as it looks to double down on its ESG goals.

The prudential regulator will undertake another review of how superannuation funds treat their unlisted assets, with a special focus on “valuation and liquidity management practices” as they come to account for larger and larger chunks of the portfolio.

The former chairman of IFM Investors and Industry Super Australia has been appointed to the Future Fund Board of Guardians as the government looks to “maximise” the role Australia’s sovereign wealth fund plays while preserving its independence.

The $160 billion industry fund has found a new head for its $90 billion public equities portfolio in an alumnus of passive investing giants like Vanguard and BlackRock. It’s also pulled the trigger on promotions in the public equities team.

It’s a narrow path to a Goldilocks financial environment with steep drops on either side. Should markets tumble off the edge, big investors could cast their eyes back over macro hedge funds, long-short strategies and gold.

Biodiversity is under rising threat around the world, with potentially disastrous economic and social consequences, while water-related risks are likely to strain insurers and government budgets.

The $13 billion Mine Super might have had Chant West’s top performing growth option for the calendar year, but CIO Seamus Collins questions whether many default growth products are doing enough for young members who are “temporally diversified”.

Wealth management firm Alteris has selected JANA as its new investment consultant, bringing its assets under advice in the wealth space to more than $10 billion as it looks beyond its traditional client base for growth.

The CIO of the $10 billion Australian Ethical wants to triple its funds under management by 2030. Getting on that growth trajectory could mean offshore partnerships or acquisitions to augment its in-house investment capabilities.