POWERED BY MOMENTUM MEDIA
AusSuper a step closer to internal investment management
AustralianSuper has completed phase one of its five-year plan to build an internal investment management team.
Phase one has seen the implementation of the systems, processes and people required to support the internal management of Australian equities, direct property and infrastructure investments.
The announcement comes more than a year after the super fund announced the five-year plan, which it said would reduce costs and increase net performance for members.
“There are a number of significant benefits to this project, primarily a cost reduction of up to 15 basis points. The amount of savings will grow as the fund grows,” said Mark Delaney, AustralianSuper’s deputy chief executive and chief investment officer.
“Fifteen basis points on a $100 billion dollar portfolio is $150 million back into members’ retirement savings,” he added.
The first phase of AustralianSuper’s internal investment management project has seen the super fund hire 23 new staff, including investment managers, the trading staff, analysts and operational specialists including risk and compliance.It has involved increasing the infrastructure and property teams and establishing the direct management capability, as well as establishing an Australian equities portfolio management team, a trading and execution team and commencing trading.
“There has been a huge amount of work to ensure we have the right people, systems, technology, policies and processes to ensure the success of this project,” Delaney said.
“It has touched almost every part of the fund’s operations, not just the investment team, and I am very pleased to say it has gone to plan and been delivered on time and on budget.”
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
