Editor's Choice
T. Rowe Price appoints local operations chief
T. Rowe Price, the global asset manager with over US$1.3 trillion in assets under management, has appointed a regional operating chief who will relocate to Sydney from the London office.
Vanguard backs current performance test
Vanguard has endorsed the current performance test methodology in a submission to Treasury, championing its effectiveness in eliminating underperforming investment options and improving member outcomes.
Sequoia chair steps down
The chair of Sequoia Financial Group, John Larsen, has resigned from the position and his replacement has been appointed.
Court approves $16m DASS settlement
The Federal Court has approved the settlement reached in the $16 million class action brought against Dixon Advisory & Superannuation Services (DASS) following a two-week delay.
Further Reading
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Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
Article should have quoted PC Finding 4.3 for balance. Should have mentioned most MySuper members are younger and have left MySuper by age 50. Their added value from higher growth options, both individually and collectively for the fund, compounded over time should be included in any assessment. Its is a very very big known issue that must be quantified in an outcome assessment and acting in members best interests. It is not a simple assessment on a funds own return, option return or just sequencing risk reduction. Some have got it, others are catching on, and the depth of the issue will evolve and be exposed over time particularly as the funds Outcomes Assessments are released. As an analogy, no fund would now exclude fund manager survivor bias - but it used to happen. A third of Mysuper funds have already moved to simple age only life-cycling, that will move on to better well-designed life-cycle defaults and more funds will then follow.