New ASFA head Mary Delahunty says the association will collaborate with other industry bodies and leverage its large operational knowledge base to create more value for the mix of retail and industry funds and service providers that make up its membership. But how many voices does super need?
The $170 billion super fund wants to be a lot bigger, and its teams are trying to get ahead of infrastructural demands from within the fund to win back basis points that can be returned to members.
The ups and downs of 2023 have shifted the fortunes of active managers in the eyes of the big institutional investors that hold the keys to trillions of dollars in retirement savings. But they’re still fretting volatility and valuations.
Big super funds still aren’t really involved in the large nation-building projects that could make Australia a renewables powerhouse. Getting them to “cross the Rubicon” will take initiative from infrastructure managers and leadership from Australia’s sovereign wealth fund.
The first chair of the Future Fund has rubbished “populist pleas” to use the money in Australia’s sovereign wealth fund for pet causes, saying that they are “infused with an unrealistic optimism of the likelihood of success”.
The market “ran hard” in the last quarter of 2023 and so did Australia’s sovereign wealth fund, making a cool $15.6 billion for the calendar year even as it effected sweeping changes to the portfolio.
Markets are “overly sanguine” about how easy it will be to achieve the last mile of disinflation. The Fed might not cut rates rapidly, and if they do we might not like the reasons.
Interest rates aren’t going back to what the current generation of investors consider ‘normal’ anytime soon, according to Oaktree’s Howard Marks, and different strategies will outperform in the years to come.
Global government-linked investment vehicles clawed back about US$1.4 trillion of 2022 losses by the end of last year on an expected path to more than US$70 trillion by 2030.
The Magnificent Seven stocks have investors sweating market concentration, but throughout history that concentration has been the norm. All the game is still in the few.