Internalisation has gone the full circle say CIOsBY DARREN SNYDER | FRIDAY, 5 JUN 2015 12:50PMSuperannuation funds are being further driven to internalise their operations as pressure continues in an environment working towards reducing member fees. Related News |
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Cost containment is indeed a moral imperative for all funds. However, the greatest problem I see with internalisation is that employing people from the same local and limited talent pool leads to very heterogeneous ways of thinking which will ultimately negatively impact portfolio diversification. Concentration risk is already a major- and widely overlooked-, including by the regulators, problem for scale managers.