After a year that will live in infamy for the construction industry fund, Cbus has announced double digit returns across two of its products. Meanwhile, CIO Brett Chatfield is scrutinising the potential market impact of Trump’s policy agenda.
Jun Bei Liu and Jason Todd want to shoot the lights out with their newly-launched long-short hedge fund, but they also want to explore new distribution models and client segments as they strike out on their own.
Custody tender update: Cbus and IAG reviews
The review of custody for Cbus is understood to be close to a final decision, after several months of work with the help of specialist consultant Drew Vaughan of Dymond, Foulds & Vaughan.
Cbus, the A$20 billion fund for the construction industry, has been a long-time client of NAB Asset Servicing. One of the famously unusual parts of its investment administration involves the valuation and accounting for a major art collection.
The fund is also overweight property compared with other funds, which it uses as a marketing line to attract new members, who mostly work in the property industry. Cbus has its own property company and gets involved in major commercial developments.
It is understood that the fund is down to a shortlist of NAB and rival JP Morgan.
Meanwhile, a new tender has emerged for IAG Asset Management, the A$12 billion insurance fund manager. Mercer Sentinel is assisting, through consultant Matthew Heeney. Incumbent custodian is JP Morgan.
