Fundies could face fee threat if super funds rethink equities mandates
Carving out CBA and other bank shares from industry funds’ active, fee-paying mandates means they cannot be underweight the ASX’s largest financial stocks.
Are some of Australia’s superannuation funds giving up on being underweight the banking sector by any margin?
It’s a real consideration, despite Commonwealth Bank shares’ ever-lofty valuation. And at least one industry fund is in talks with fund managers about overhauling its investment mandates to ensure it always has a market-weight position in Australia’s largest listed banks, people with knowledge of the matter told this column.
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Joyce Moullakis is an Associate Editor writing across company news, policy issues, investment banking, private equity and financial services. Connect with Joyce on Twitter. Email Joyce at joyce.moullakis@nine.com.au
