In-house asset management in the Australian superannuation industry

David R. Gallagher, Timothy M. Gapes, Geoffrey J. Warren

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)


We examine how executives from the Australian superannuation industry perceive and approach the choice between managing assets in-house, versus outsourcing to external investment managers. We find that decision frameworks, as well as the perceived benefits and challenges of in-house management, can be described in terms of four elements: costs, capabilities, alignment and governance. Industry participants address these four elements in diverse ways. This is reflected in a variety of decision approaches, aspects that are considered and emphasised in decision-making, and implementation structures.

Original languageEnglish
Pages (from-to)615-655
Number of pages41
JournalAccounting and Finance
Issue numberS1
Early online date8 Feb 2017
Publication statusPublished - Apr 2019


  • Governance
  • In-sourcing versus outsourcing
  • Portfolio construction
  • Superannuation funds


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