A new report “from the coalface” of super fund investing has gone some way to quantifying the cost of shonky investment management, with members potentially losing out on hundreds of thousands of dollars.
Surging equity markets have driven the Future Fund’s return higher, but its prediction that inflation will be stickier than expected has been born out and it “remains conscious of the potential for significant deterioration”.
Milestone builds APAC capability
(Pictured: Enrique Gonzalez)
Milestone Group, the Australian-owned global fund processing firm, has continued its expansion path with the appointment of Enrique Gonzalez to head up product management for the APAC region, based in Sydney.
He will have overall responsibility for the alignment of Milestone’s product line to key client segments, including repatriating globally developed solutions back into the Australian market and across the Asia Pacific region.
Gonzalez has more than 25 years of experience in the international asset-servicing industry having worked in Luxembourg, London, Dublin and Sydney. Most recently he worked in Paris for BNP Paribas where he was integral in developing and expanding the bank’s global custody offering.
His appointment follows that of Robert Caporale, recruited from JP Morgan in the US, to head up the group’s North American operation based in Boston.
Mark Neary, Milestone’s managing director for APAC, said: “The funds industry is at an interesting point in its maturity where it continues to grow, but under constant margin pressure and increased regulatory scrutiny. Product complexity is now a key feature of the global landscape and we are fortunate that Enrique brings such a breadth and depth of experience across products and markets.”
