Funds Management Research
The program's objective is to directly assist Australia's global
financial centre aspirations and the efficient management of its
savings flows by facilitating more and better research aimed at
monitoring the performance, effectiveness and efficiency of the
Insurance and Managed Funds Industry. In March 1999 this sector
managed almost $1.5 trillion of funds and is forecast to grow by
as much as 238% in the years to 2015, making it one of the largest
and most expansive sectors of the financial system.
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Database for Funds Management Research
Research Program
Objectives
The program's objectives focus on improving the efficiency, performance
and security of the Superannuation and Managed Funds industry through
research involving analysis of:
- Benchmarking and Asset Pricing Models Impact of Performance
- Reporting and Financial Reporting
- Performance Ratings
- Risk Management Procedures
- Market Transparency and the Flow of Information
These objectives will be achieved in association with numerous
industry partners. A further product of the program's operations
will be an improvement in the quality and the detail of research
data in this area.
 Current
& Future Research Programmes
- Analysis of asset pricing models and various benchmarks which
can be used to assess managed fund performance, including comparative
evaluation of the published performance metrics and ratings utilised
within the industry
- Analysis of bond pricing models, bond portfolio evaluation metrics,
duration based measures and immunisation techniques, plus other
metrics for managing bond portfolio risk
- Analysis of venture capital industry and opening and long-run
performance of initial and seasoned equity offerings
- Investigation into the role of performance reporting and financial
reporting in the insurance and managed fund industry in the broader
context of corporate governance, corporate financial policies
and policy-holder interests
- Investigation of the risk management techniques within the industry,
hedging techniques, portfolio exposure, Value at Risk and other
metrics for assessing hedging requirements
- Analysis of the framework of regulation and compliance standards
within the industry
Impact on Industry
Various research activities conducted by the program draw directly
on industry data thus producing a comprehensive and detailed review
of the performance as well as strengths and weaknesses of the Australian
superannuation and managed fund industries.
Partnerships
The Funds Management Research program has established a strong
working partnership with ASSIRT Rating agency, a subsidiary of BourseData.
Other industry partners and research sponsors include GMO, William
M Mercer and CharlesSchwab, it is seeking to establish further relations
with firms and associations operating in the industry.
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