Catholic Super appoints after-tax analyst
Catholic Super has appointed Parametric Portfolio Associates to provide it with after-tax performance services.
Parametric, a majority-owned subsidiary of UB-based Eaton Vance Corporation, will measure the after-tax returns for six of Catholic Super’s active Australian equity managers. Parametric will also construct after-tax indices for Catholic Super’s equity managers, so that the fund can observe the after-tax and stock selection alpha delivered by each manager.
Catholic Super chief investment manager Garrie Lette said the benchmark created for each manager would “reflect the history of each of their individual mandates”.
The fund had long held the view that returns should be measured on an after-tax basis because that is what matters to members, Lette added.
“The Australian superannuation industry is moving towards a greater emphasis on after-tax returns, with the Cooper Review recommending that fund trustees should have express regard for tax consequences,” Lette said.
Parametric chief executive Brian Langstraat said his company had 20 years experience in measuring after-tax returns for thousands of equity portfolios and custom benchmarks.
“Australia is a very important market for Parametric and we are fully committed to building our operation and presence here, drawing on our direct research and technology experience in the after-tax space,” Langstraat said.
Recommended for you
The fund has strengthened its leadership team with three appointments to drive its next phase of growth and innovation.
ASIC and APRA have warned many trustees have failed to meaningfully improve retirement strategies despite the retirement income covenant being in place for three years.
Super assets and contributions increased in September to $4.5 trillion, though at a slower pace than the previous quarter.
The fund has delivered double-digit annualised returns across key options over its first three years since launching in 2022.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
211.16 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
121.06 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Smarter Money Long-Short Credit Investor USD
68.96 3 y p.a(%)
