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In-house investment will become the norm: Jeremy Cooper
Bringing investment expertise in-house is a natural evolution for the superannuation industry, Jeremy Cooper, chairman of retirement income at Challenger said.
He said although the industry had started out as an almost completely outsourced model, the top super funds had already made dramatic changes to their internal investment capabilities.
"We're seeing this in the elite pack of super funds now, we've seen this happen quite dramatically, but it's not a road without bumps," he said.
Cooper said it was "absolutely a natural evolution", although some superannuation funds would have success while others would not.
VicSuper chief investment officer Oscar Fabian said the fund had experienced both internal and external investment teams.
He said there were arguments for both outsourcing the function and for bolstering internal investment expertise, but disagreed that in-house investment teams would become the standard for the superannuation industry.
"It's a lot easier to fire a fund manager than fire your internal staff, so there's many facets to it… I think it's horses for courses," he said.
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