Asset consultants influence to grow amid industry changeBY MARK SMITH | FRIDAY, 16 NOV 2012 11:10AMDespite pressure on fees from a consolidating super industry, a combination of regulatory reform, increasing demand for less conventional assets and a rise in the amount of money going into super savings will magnify fund managers over-dependence on asset consultants. |
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Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
How else do you explain that in markets which abound with opportunities returns are low and often about index, simply its because most managers are Index Managers and they are often taking fees for services they are not providing. Everyone happily sledges the Hedge Funds but at least you know you wont have a low tracking error. How can an Asset Consultant recommend a trading fund that has a low tracking error , because they do. Either they don't understand the maths or they simply like the big is beautiful mantra and neither generates above index returns.
Asset Consulting actually requires a reasonable amount of mathematical ability yet very few AC 's have the intellectual capital that can handle the maths required.