The $70 billion super fund has appointed WTW as asset consultant to its board and board investment committee as it internalises a substantial chunk of its funds under management.
Active management might be back in a big way but asset managers need to make sure they’re getting what they pay for: skill, not luck. Figuring out manager style and factor biases is key.
Systemic risk is difficult for investors to grasp because it’s no big deal – until it is. And unless investors adopt a “vastly different” mindset about pricing, it’s going to get a lot worse.
Much of the work Willis Towers Watson does for Australia’s largest allocators is now around investment governance. But the tyranny of distance means the local scene can be a bit of an “echo chamber”.
The Kiwi secretariat provider has named former WTW global head of governance consulting Tim Mitchell as chief executive to replace long-time head Simon Tyler. But it has another vacancy to fill with the looming exit of Paul Bevin, general manager investments.
A small handful of new benchmarks would make alternative strategies viable under the YFYS performance test and once again allow funds to take advantage of their diversifying characteristics.