A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
T. Rowe Price opens in Melbourne
(Pictured: Murray Brewer)
T. Rowe Price has expanded its Australian business with the opening of an office in Melbourne, which will be staffed by David Frazer, who joined last year as institutional relationship manager, and Heath Branigan, as business development manager on the retail side.
Branigan has been with T. Rowe Price for three years, concentrating on the adviser-directed clients from the Sydney office. His role in Sydney will be taken over by Jonathan Ross, who has joined after similar roles at MLC and NabInvest.
Murray Brewer, the head of relationship manager for Australia and New Zealand, said the expansion followed a successful year for the firm, with inflows across the range of T. Rowe Price strategies, including global equities, Aussie equities, Asia ex-Japan and emerging markets equities as well as global fixed income.
Frazer joined T. Rowe Price last April after about three years as Australian country head for Ashmore, a UK-owned emerging markets manager. He has also worked at other big managers including MLC, where he was head of fixed income, BT, Wellington Capital and Western Asset Management.
