We address how investment management organizations might be built to successfully pursue long-term investing. A variety of recommendations and suggestions are put forward that address four building blocks: organizational; incentives; investment approach; and discretion over trading. A key message is the need to manage the principal-agency issues that occur across multi-layered operations, with the aim...

Three key advantages held by long-term investors include: the capacity to adopt positions where payoff timing is uncertain; the ability to exploit opportunities generated by the actions of short-term investors; and latitude to invest in unlisted and/or illiquid assets. These advantages provide access to a broader investment opportunity set than available to short-term investors. Strategies...

Australia’s MySuper default superannuation funds are compared against New Zealand’s range of KiwSaver funds. Some key points of contrast include: the relative maturity and larger balances of the Australian system; the majorityof MySuper providers are not for profit, whereas KiwiSaver is dominated by for profit providers; MySuper funds use a much broader range of assets...

This paper summarizes views on the superannuation system and its regulation collected through interviews of fund executives.

This report examines the Australian superannuation default fund landscape following the introduction of MySuper. The two main products are outlined – single strategy ‘balanced’ and lifecycle – including their underlying asset allocation and glide path strategies.