Aus Sup to manage 30% of own funds in 5 yearsBY BEN COLLINS | MONDAY, 10 SEP 2012 12:40PMAustralianSuper has unveiled plans to manage up to 30% of its funds internally by 2017. |
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One of the lessons about preventing financial institutions running into problems is to be wary of rapid growth -- another doubling in size in a bit over 3 years? -- and the related diversion of management time and energy to 'growth' as distinct from managing the established business in the interests of the members. A single fund can become too big to be flexible and too much risk rides on a single mangement and investment team.
Super funds need clear open commitments to a set of institutional checks and balances -- and had these been in place in recent years either the word 'balanced' would not have been used to denote the default option or management would have ensured a more objectively balanced asset allocation in the default fund in the GFC context .