Sally Loane

How and when fund researchers and portfolio construction experts weigh in on appropriateness of fees and quality of investment outcomes will have a significant impact on the advice industry’s ability to build trust and progress its professional status. Experts and those at the coal face put some of the wholesale industry’s most enduring topics on the table to discuss: • Rebates and discounts on products in managed accounts • Margins in cash accounts & white-labelled products • Shelf space fees • Overpriced beta

ASIC senior executive leader Kate Metz outlines the regulator’s current and ongoing projects relating to investment products and hones in on the work ASIC has done as part of its ‘true to label’ investigations and findings.

Catch all categorisations fail to capture the nuance of style and approach. Further, mis-categorisations can lead to surprising and unexpected outcomes for investors and their trusted advisers. Researchers, consultants and product providers discuss how to foster innovation while overcoming common mis-categorisations drawing on examples from: • Growth/defensive labelling • The use of derivatives

With the actions of central banks pervading the performance of asset classes, portfolio construction experts are getting creative with growth and income requirements while thinking deeply about portfolio risk in light of ever-present geopolitical tensions and the rising spectre of inflation. Consultants and investment experts discuss the essential and perhaps surprising components in a contemporary portfolio mix.

An expert panel picks over the considerations for fund researchers and consultants looking at superannuation funds in light of new standards set by Your Future, Yor Super, the continuing internalisation of investment functions by some funds and the increasing prevalence of MySuper and Choice products in model portfolios and on recommended lists.

Client demand has forced advisers and researchers to play catchup understanding appropriateness of product, advice and services relating to ESG and in particular environmental and sustainability considerations. Hear perspectives from different parts of the value chain triangulate on where Australia is in its journey drawing on the overseas perspective and where to from here.

This session looks at the models and systems used to measure the different commitments to ESG, from exclusions, integration, impact and beyond. Researchers join funds to understand categorisations, measurements and the use of sustainable development goals to anchor outcomes and provide proof-points.

Each of the fund research groups as well as some consultants have designed their own approach to measuring ESG integration and measurement. Delegates split into groups to consider the current standards for in the wholesale space and propose ways for standards to be improved and shared.

While the continued growth and prominence of managed account solutions, its evolution towards tailoring outcomes for individuals and more specialised groups has only just begun particularly as retirement and ESG become pervasive issues. Those at the front line of tailoring outcomes using managed account structures share their views.

Change is the only constant, particularly in the wholesale research industry where funds research houses are morphing, independent consultants are deepening relationships with growing advice businesses and the licensee research function continues to evolve. Seasoned researchers offer their perspectives.