POWERED BY MOMENTUM MEDIA
Catholic Super appoints after-tax analyst
Catholic Super has appointed Parametric Portfolio Associates to provide it with after-tax performance services.
Parametric, a majority-owned subsidiary of UB-based Eaton Vance Corporation, will measure the after-tax returns for six of Catholic Super’s active Australian equity managers. Parametric will also construct after-tax indices for Catholic Super’s equity managers, so that the fund can observe the after-tax and stock selection alpha delivered by each manager.
Catholic Super chief investment manager Garrie Lette said the benchmark created for each manager would “reflect the history of each of their individual mandates”.
The fund had long held the view that returns should be measured on an after-tax basis because that is what matters to members, Lette added.
“The Australian superannuation industry is moving towards a greater emphasis on after-tax returns, with the Cooper Review recommending that fund trustees should have express regard for tax consequences,” Lette said.
Parametric chief executive Brian Langstraat said his company had 20 years experience in measuring after-tax returns for thousands of equity portfolios and custom benchmarks.
“Australia is a very important market for Parametric and we are fully committed to building our operation and presence here, drawing on our direct research and technology experience in the after-tax space,” Langstraat said.
Recommended for you
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
The fund has unveiled reforms to streamline death benefit payments, cut processing times, and reduce complexity.
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
