POWERED BY MOMENTUM MEDIA
AIST and HSBC Australia announce new partnership
As HSBC Australia continues its expansion into the superannuation sector, it has announced a partnership with the Australian Institute of Superannuation Trustees (AIST).
HSBC Australia would collaborate with AIST to help inform super fund members of key industry trends and insights that could assist with international mandates.
“Australian super funds’ increasing focus on offshore investment is absolutely the right strategic decision for their members given the projected size of AUM by the end of the decade,” said Nick Wheeler, head of markets and securities services for Australia and New Zealand, HSBC.
“Our knowledge of global markets combined with our suite of solutions including global asset management, securities services and access to public and private investments means we’re uniquely placed to assist asset owners and managers on their investments decisions and we believe AIST is the ideal partner and platform to deliver this insight to the industry.”
HSBC Australia was currently the largest sub-custodian in Australia with over $1.6 trillion in assets under custody. Through the partnership, it would look to expand its services with super funds in areas like asset management and securities services.
The new partnership followed a significant period of change within Australia’s super industry with funds pivoting to in-house investment and asset management decisions and investing in international public and private assets.
“We appreciate the support provided and value added for our member funds across the profit-to-member sector by our partners, particularly by HSBC with its global reach, broad service offering and expertise in offshore markets at a time when our member funds are increasing their global investments,” said AIST CEO Eva Scheerlinck.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist at Money Management and Super Review, with a focus on financial advice, investments, funds management, and superannuation. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
Recommended for you
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment