Russell Investments has made two key additions to its global consulting division in the Asia-Pacific region.
Frank Russo has been appointed a senior consultant at Russell Consulting in Australia and will be based in Melbourne.
He joins from independent asset consultant Access Capital Advisers, where he served on the board of the AMP Infrastructure Fund of India and as the investor representative on several investment advisory committees. Russo previously held senior positions at Equipsuper and Westpac Banking Corporation.
In a second move, Trevor Persaud has been appointed as a practice leader for consulting and advisory services in ASEAN, India, Hong Kong and Taiwan. In his role, Persaud will lead the strategic development and delivery of investment consulting services for Russell’s clients in the region, encompassing investment advisory, asset allocation, strategic asset tilting, risk management and portfolio construction. He will be based in Singapore.
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.