JANA Investment Advisers has enjoyed a strong year of growth with a host of client wins that have helped it secure its place as the country’s biggest asset consultant in value terms.
JANA executive director David Holston confirms that the company now advises on assets of $46 billion and that the number of its clients has jumped from around 37 to 45 over the past year.
JANA started this year off with about $40 billion in assets, but Holston says figures can be misleading because of changes in market values.
JANA’s latest win is the $185 million Legal Industry Superannuation Scheme (LISS). According to LISS fund secretary Andrew Proebstl, LISS replaced Mercer with JANA after an extensive tender.
JANA’s other recent wins include the $320 million rural AustSafe industry fund, the $619 million Brisbane-based City Super, and the AMP Officers’ Provident Fund. JANA also fought off stiff competition to retain the $4.6 billion Retail Employees Superannuation Trust (REST) as a client.
Holston attributes JANA’s growth to an increased market awareness of the consultant and what it does, its enhanced reputation and a realisation of how important good research is during challenging investment markets.
JANA clients have also been delivering strong returns to their members. Indeed, clients Host-Plus, REST, FinSuper, ARF, CARE and equipsuper were among SuperRatings’ TOP 10 best performing funds for 2002-03.
Holston, however, is loath to take all the credit, noting: “Many of our larger clients have highly competent investment teams and boards of their own.”
