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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Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
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 .