AustralianSuper, the A$42 billion (US$44.58 billion) superannuation fund, is examining whether to move more assets in-house.
“If the numbers stack up, we’ll look at managing more money internally,” said Peter Curtis, head of investment operations at the Melbourne-based fund.
Mr. Curtis said AustralianSuper will be analyzing its investment decisions throughout the next year.
“We’re going to examine the value we’re getting from our external managers minus the cost we pay, against how else we can deliver that net benefit,” he said. “If we can get a better net return for members we’ll look at managing money internally.”
Innes McKeand, formerly head of equities at AEGON Asset Management in the U.K., will become AustralianSuper’s new head of equities, effective Sept. 12.
Mr. McKeand will be working with the fund’s head of fixed income, property and infrastructure and Chief Investment Officer Mark Delaney to assess the fund’s investment decisions.
AustralianSuper manages A$24 billion in stock investments. Nine Australian equity managers manage its investment in Australian shares; 11 non-Australian firms manage its international equities portfolio.
Brett Cole writes for I&T News, Sydney.