This multi-faceted analysis of institutional investment defines ‘fiduciary finance’ institutions as the third pillar of the financial system, alongside banks and insurers. It documents the role played by investment funds and the money management industry during the recent financial crisis,...

This article discusses new index-based investments known as quot;geared betaquot; strategies. These strategies employ derivative instruments to achieve dramatic outperformance of market returns.Mutual funds which use enhanced indexing strategies can be classified as follows: those that employ...

This research paper provides a brief introduction to Exchange-Traded Funds (ETFs), and describes the features that distinguish ETFs from other investment instruments (such as index mutual funds, active mutual funds, listed investment companies/trusts and share baskets).The paper explains how...

This article discusses an innovative enhanced indexing strategy known as quot;portable alphaquot;. A portable alpha strategy, in essence, involves overlaying the return from an external fund or internal strategy that has consistently generated alpha with a derivatives-created index exposure. A...

This book is concerned with the corporate governance aspects of managed investment funds, in particular the role and legal obligations of institutional investors in corporate governance and the legal duty of prudence imposed on fund managers and other market participants that have been entrusted...

SRI investments in Australia now exceed AUD1.9 billion. A number of high profile superannuation funds have recently embraced SRI strategies, and strong growth is forecast. This momentum, however, has not been matched with a robust legal framework for appraising SRI strategies.The Report...

Transporting the alpha generated from an active strategy to an index-tracking fund is gaining global acceptance. It is a concept that challenges the conventional notion that the bulk of portfolio returns are derived fom asset allocation.In this article published by the Securities Institute of...

This article discusses an innovative enhanced indexing strategy known as quot;portable alphaquot;. A portable alpha strategy, in essence, involves overlaying the return from an external fund or internal strategy that has consistently generated alpha with a derivatives-created index exposure. A...

This article explains the structure of Exchange-Traded Funds (ETFs), and describes the proposed Australian ETFs, as well as the ETFs that have been launched in the United States, the UK and Europe, and Asia. The article also considers the key issues under Australian law confronting fund...