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 two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
