Future Fund

As the biggest ETF provider in Australia, Vanguard has the right to crow about another knockout performance over active equity. But invective commentary is a red flag, especially when it’s based on something as changeable as recent market performance.

Australia’s sovereign wealth fund’s prediction of a tough year for investors didn’t come to pass, but they’re not the only well-resourced manager that missed the mark. For investors, this period is a reminder that investment patterns may exist, but markets certainly aren’t beholden to them.

The Future Fund’s decision to take risk off the table resulted in a lacklustre return and criticism from the super sector. But advisers know the journey matters as much as the destination.

Active management might be back in a big way but asset managers need to make sure they’re getting what they pay for: skill, not luck. Figuring out manager style and factor biases is key.

Lee Hatton has departed Suncorp as its chief executive of banking and wealth after just three months in the job. Hatton acknowledges that her departure is due to the impacts of the commute from Sydney to Brisbane on her family.Bruce Rush has been appointed as acting chief executive of banking and wealth until a permanent…