POWERED BY MOMENTUM MEDIA
ACS gives Parametric $60 million mandate
Australian Catholic Super (ACS) has awarded Parametric with another $60 million to manage under its tax-managed indexing (TMI) strategy, as the fund re-commits to the strategy it began in early 2016.
The original agreement saw ACS offer Parametric a TMI mandate for part of its international equities portfolio with the intent of offering fresh solutions to boost members’ net returns.
“We wanted a stronger focus on net returns, as opposed to gross returns, as we know this is what improves members’ retirement incomes,” ACS chief executive, Greg Cantor said.
“We pride ourselves on being an innovative fund that is always looking to find fresh ways to improve member returns, and the TMI strategy reflects this approach.”
Parametric’s Australasian CEO, Chris Briant, welcomed the mandate, which reaffirmed the Australian relevance of the TMI strategy that was prevalent in the US.
“To be recognised by ACS for our after-tax and implementation skills was important to us, so we are enormously pleased that two years on, ACS has decided to re-commit to the strategy,” he said.
“Parametric has been managing passive portfolios with an after-tax focus in the US since 1992, and we firmly believe that Australian super funds need to balance their appetite for more passive investment styles with a genuine after-tax investment focus.”
Recommended for you
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
