POWERED BY MOMENTUM MEDIA
Qantas outsources FX to Russell
Qantas Super has moved to outsource its foreign exchange (FX) services with the appointment of Russell Implementation Services.
It is estimated that the move could deliver cost savings to members of the $6 billion Qantas Superannuation Plan of more than $1 million per year.
The arrangement will see Qantas Super outsource its FX trades for active global equities and alternatives to Russell’s global trading desk for execution and settlement.
Russell will manage operational risk and provide Qantas Super with comprehensive performance reporting tools.
Qantas Super chief investment officer Andrew Spence said the agreement demonstrates the trustee’s commitment to enhancing member returns while adhering to strict FX governance.
“We have undertaken extensive due diligence to quantify the costs associated with FX trade execution and to find a solution that delivers enhanced transparency and cost efficiency,” Spence said.
AUTHOR
Ashleigh McIntyre
Recommended for you
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.01 3 y p.a(%)
Add new comment