In-house asset management in the Australian superannuation industry

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

Research output: Contribution to journalArticleResearchpeer-review

Abstract

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.

LanguageEnglish
Pages615-655
Number of pages41
JournalAccounting and Finance
Volume59
Issue numberS1
Early online date8 Feb 2017
DOIs
Publication statusPublished - Apr 2019

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Superannuation
Industry
Asset management
Assets
Governance
Alignment
Decision making
Perceived benefits
Managers
Costs
Outsourcing

Keywords

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

Cite this

Gallagher, David R. ; Gapes, Timothy M. ; Warren, Geoffrey J. / In-house asset management in the Australian superannuation industry. In: Accounting and Finance. 2019 ; Vol. 59, No. S1. pp. 615-655.
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In-house asset management in the Australian superannuation industry. / Gallagher, David R.; Gapes, Timothy M.; Warren, Geoffrey J.

In: Accounting and Finance, Vol. 59, No. S1, 04.2019, p. 615-655.

Research output: Contribution to journalArticleResearchpeer-review

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