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Qantas partners with Parametric to manage investment in-house
Qantas Super will manage its global and Australian equities portfolios centrally after partnering with specialist after-tax investing firm, Parametric.
The initiative builds on a range of innovative investment strategies the fund has undertaken to achieve sustainable implementation efficiencies through better management of transaction costs, Qantas Super chief executive Andrew Spence said.
He said the overall program would save members of its default growth option 25 basis points.
"This new approach which involves managing our Australian and global equities portfolios centrally, will deliver a substantial proportion of those net savings," he said.
Spence said the move was timely considering trustee's increased obligations under Stronger Super including the consideration of the tax consequences of investing and evaluating outcomes on an after-tax basis.
Qantas Super chief executive, Jane Perry said, "All of our 33,000 plus members want to know their investments are being managed efficiently and effectively. Our imperative is to create and protect value for our members," she said.
Qantas Super implemented an agency foreign exchange program across its global equities and alternative assets in 2011 which it said saved members over $1.4 million to June 2012.
Parametric also provides after-tax reporting to Catholic Super.
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