POWERED BY MOMENTUM MEDIA
Australian funds lead way on manager searches
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Australian investors, including superannuation funds, have led the way in seeking out investment management opportunities in recovering markets, according to new research released by Mercer.
The Mercer research, contained in its 2009 Global Manager Search Trend Report, looked at institutional investment manager hiring patterns and trends, and revealed that searches ran at considerably higher levels than in previous years, with assets placed reaching their highest ever levels.
The research revealed that manager searches were up 22 per cent on 2008 levels, and represented US$97.2 billion in assets placed by 406 institutional investors.
The research analysis said the most notable increases had been in Australia where the number of searches doubled on those recorded in 2008, while search activity had also risen in the United Kingdom and Europe.
By comparison, it said searches had risen by a comparatively small amount in North America and actually declined by a third in Asia.
The Mercer analysis said global equity remained the dominant search category, while searches for global fixed income had increased and there had been a decline in searches for domestic equity in most regions.
Looking specifically at Australia, the research found that search activity had increased to 120 in 2009 from 61 the previous hear, but that the amounts of assets placed had decreased in value from US$15.2 billion to US$7.7 billion, reflecting a trend for smaller placements.
It said fixed income had seen the largest increase in search activity, although there had also been increases in search for Australian equity and global equity.
AUTHOR
Mike Taylor
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