News

(Pictured: Dan Norman) In the world of fixed income, not since what is sometimes referred to as the ‘cult of equities’ got underway in the 1950s – thanks to Harry Markowitz’s Modern Portfolio Theory – has there been such demand and yet such limited supply of product. Everyone is searching for yield and everyone is wary…

(Pictured: Jonathan Green) The integration of back and middle-office functions at big super funds is having knock-on benefits, such as the reorientation for the fund operations management to also include implementation. And there are returns benefits. According to Jonathan Green, the general manager of investments at NSW Treasury Corporation, the new paradigm involves the recognition of…

(Pictured: Ashley Porter) The ‘value chain’ in funds management, currently worth about 100bps, will deflate by 70-90bps in the next five-10 years, according to Ashley Porter, the founder of the zero-fee SMSF admin company McLowd. He provided a shock-and-awe presentation to the industry on the Gold Coast last week. At the ‘My Platform Rules’ conference in…

(Pictured: Jason Clarke) Jason Clarke, the former managing director of the Lonsec Fiscal group and partner of Jeff Bresnahan in the development and expansion of the SuperRatings business, has joined administration company Recreo Financial Technologies as a director. He is known as a long-time critic of the service offerings of the big administration firms and system…

(Pictured: Paul Moore) Ben Skilbeck, a former investment banker with Merril Lynch and Credit Suisse, has become the new chief executive of Australian-based international manager PM Capital. This follows the departure of Chris Donohoe, the former chief executive, in December last. Skilbeck has started at PM Capital this month, most recently having worked at quant research…

(Pictured: Mavis Robertson) A lot has been written this past week since her untimely death, the result of complications from a fall. But Mavis Robertson’s early years, which defined her later career, are just as remarkable as her years in super, as a workers’ and women’s advocate. They are worth noting among all the tributes…

(Pictured: Matthew Brown) Matthew Brown, who has about 20 years experience in securities servicing, will replace Christine Bartlett as general manager of NAB Asset Servicing when she retires next month. Bartlett, who took on a non-executive directorship of property group Mirvac in December, has decided to pursue further such roles and depart NAB at the end…

(Pictured: Grahame Evans) A white-labelled platform used to cost over $250,000. Today, advisors can get one for a fraction of the price – that’s if they still want one, Grahame Evans* writes. He believes that the ‘power’ in the platforms space in the industry is shifting, thanks to technology and changing customer demand. It wasn’t that…

(Pictured: Nate Dalton) The benefits of boutiques are well documented. It’s mainly about size, nimbleness and staff ownership, leading to proven outperformance. But the disadvantages are not so well known. They’re mainly about succession. The problem has always been handling succession without losing the former benefits. Nate Dalton, president and chief operating officer of Affiliated Managers…

(Pictured: Jim McCaughan)  Keeping a watchful eye on valuations, Jim McCaughan, the chief executive of Principal Global Investors, says that it is probably not too late to lift an under-weighting to the US share market. “We think the US has another two or three years to go,” he says. On a visit to Australia last…

(Pictured: Andrew Bascand) Harbour Asset Management of New Zealand has launched a new wholesale global equities Portfolio Investment Entity (PIE) fund in association with Baltimore-based growth manager T. Rowe Price. While T. Rowe Price markets to larger institutions directly, Andrew Bascand, Harbour managing director, said the deal would give smaller-scale NZ investors tax-effective access to one…

(Pictured: Catherine Nance)  With the recruitment of David St John, the former UniSuper CIO and current super fund investment advisor, PwC has signalled its intention to expand its services to big super funds and fund managers in direct competition with the traditional asset consulting firms. The global accounting and advisory firm is looking to provide…