
Raewyn Williams
Director of Research & After-Tax Solutions, Parametric™ Australasia
Director of Research & After-Tax Solutions, Parametric™ Australasia
Part 1 of this article looked at the ways in which superannuation funds and other institutional investors build “multi-manager” equity portfolio structures in an attempt to spread the benefits of diversification within, and not just across, asset classes. We noted that, astonishingly, the performance track records of managers are typically compared only on a pre-tax…
For large superannuation funds and other investors with institutional-sized portfolios, a common practice is to spread the allocation to a particular asset class among a number of managers within a “multi-manager” structure. This provides the benefits of diversification not only across asset classes, but also within key allocations like Australian and global equities. The aim…