- Evolving Trends in Superannuation Investment Performance
- Attributing investment Risk and Returns in a Total Portfolio Approach environment
- The Challenges of Perfecting TPA for investment risks and returns.
- Distinguishing between diversification and hedging with a traditional SAA approach
- Measuring the impact of TPA in investment performance attribution and how it differs to traditional SAA attribution
- Volatility and risk and why they may not be the same thing
- Currency attribution
- Investment Performance and Risk attribution. Getting the fundamentals right and where technology might assist
- Technology & Data Analytics in Performance and Risk
Early Invited Key Opinion Leaders Includes:
Speakers of The 13th Annual iPARM Australia 2025 Conference
Head of Performance Attribution, IPRA, First Sentier Investors
APAC Head of Product Management-Performance & Analytics, Private Markets, Investment Compliance, State Street Australia Limited
Head of Investment Data Management and Reporting at Aware Super
Head of Investment Analytics, Operations, Australia, Perpetual Group
Principal Consultant, Frontier Advisors
Marketing Director, Northfield Information Services
Manager, Investment Risk Analytics, Rest (TBC)
Executive Director, The Conexus Institute
Head of Performance Analytics and Investment Risk, Morningstar Investment Management (Invited)
Head of Performance Measurement & Risk Analysis, KBI Global Investors
Senior Director, Cutter Associates
Director– Legal, Risk and Compliance, Kaizen Recruitment
Partner-Superannuation and Investment Consulting, PricewaterhouseCoopers
Director, Flametree Technologies
Buyside Middle Office Senior Solutions Specialist, FactSet
Director, Actuarial Services at Ernst & Young
Senior Performance Analyst at AustralianSuper (Invited)
Associate Director, Performance & Risk Analytics, IFM Investors
Functional Head of Investment Control, Aware Super
Head of Performance, Aware Super
Partner, BDO Australia
Head of Performance Product - BNY Data and Analytics, BNY
13th Annual iPARM Schedule
Learn schedule, program and topics of the 13th Annual iPARM Australia - Investment Performance Measurement, Attribution & Risk Management 2025 Conference
KYLE RINGROSE
Principal Consultant, Athena IOC
• Evolution of Performance Measurement: How methodologies and metrics have changed over time, from simple return calculations to risk-adjusted measures and multi-factor attribution.
• Current Challenges and Best Practices: Addressing complexities such as data quality, benchmark selection, and the impact of technology in modern performance measurement.
• The Role of Technology and AI: Exploring how automation, big data, and AI-driven analytics are reshaping performance measurement and attribution.
• Future Trends and Innovations: Predicting the next frontier, including ESG performance metrics, real-time analytics, and the role of blockchain in investment performance reporting.
JOE KAVANAGH, CFA
Head of Performance Measurement & Risk Analysis, KBI Global Investors
• Emerging asset classes and their impact on performance measurement.
• ESG considerations in superannuation performance.
• Performance measurement in an era of sustainable and impact investing.
MODERATOR:
KYLE RINGROSE
Principal Consultant, Athena IOC
PANEL MEMBERS:
KENDAL MOGG
Head of Performance, Aware Super
REIN VAN ROOYEN
Head of APAC, Cutter Associates
DAVID CARRUTHERS
Principal Consultant, Frontier Advisors
IAN THOMPSON
Head of Performance Product - BNY Data and
Analytics, BNY
• The critical need to define risk from the investor’s perspective
• When market volatility does and does not drive risk, the importance of investment time horizons
• A deep dive into the ASFA/FSC Standard Risk Measure
• Possible alternative risk measures for superannuation fund members
DAVID CARRUTHERS
Principal Consultant, Frontier Advisors
• Issues with NPV
• Speed of revaluations in volatile markets
• Price discovery versus "last round" methodologies
• Inconsistencies in valuations between different managers
• Potential conflicts of interest
KYLE RINGROSE
Principal Consultant Athena IOC
11:00 Morning Coffee & Networking
• How does currency tenor impact in liquidity in periods of market stress?
• What are the YFYS considerations for tracking error of different tenors?
• How does spreading tenors impact absolute risk?
• What other risks are impacted? Ie counterparty and interest rate risk.
PAUL TIFFEN
Manager Investment Risk Analytics, Rest
12.40 NETWORKING LUNCH
• Decomposing Currency Returns
• Hedging Strategies & Performance Attribution
• Interaction with Asset Allocation & Risk Management
VEE VIEN TAN
Senior Performance Analyst at AustralianSuper
• Five purposes for CPI-plus objectives
• Why super funds have difficulty managing toward CPI-plus objectives
• Performance assessment under CPI-plus – is it meaningful?
• Framing of CPI-plus and other investment objectives in communicating with members
ASSOC. PROF. GEOFF WARREN
Research Director, Conexus Institute and Associate Professor, ANU
15:00 AFTERNOON TEA
• Defining the investment process
• Dovetailing the attribution framework into the investment process
• Decomposing the market, currency and risk attributes
• How automation can add integrity
• How to add the appropriate level of manual checks and controls
MODERATOR:
KYLE RINGROSE
Principal Consultant Athena IOC
PANEL MEMBERS:
MARK MACAROUNAS
Head of Performance Attribution, IPRA, First Sentier Investors
ASSOC. PROF. GEOFF WARREN
Research Director, Conexus Institute and Associate Professor, ANU
REIN VAN ROOYEN
Head of APAC, Cutter Associates
• Leveraging AI and machine learning for performance attribution and risk analysis.
• Big data analytics in improving investment decision-making.
• Technology solutions for real-time performance measurement and monitoring
MODERATOR:
NARESH SUBRAMANIAM
Partner-Superannuation and Investment Consulting, PricewaterhouseCoopers
PANEL MEMBERS:
RICHARD SITOSTA
Head of Investment Data Management and Reporting at Aware Super
AMIT MALGURI
Functional Head of Investment Control, Aware Super
Closing remarks from the chair
1 Hour Networking Drinks
KYLE RINGROSE
Principal Consultant, Athena IOC
What happens when real-world effects impact the Brinson attribution model?
Not all portfolios follow the clean assumptions of the Brinson attribution model. Sometimes, allocation decisions made at sector or sub-sectors levels may not match those made at higher levels. And what happens when a sector manager uses a different benchmark to the one advertised?
Questions such as these have become more important recently as managers are asked to measure the effects of such events. In this talk, Andrew Colin discusses topics such as benchmark mismatch, macro and decision-based attribution, explains the issues, and provides mathematical tools to measure and assess the impacts of such override decisions.
ANDREW COLIN
Director, Flametree Technologies
• Risk: What is it we are trying to measure and why?
• Risk models: How they go about it.
• Valuations: Do they matter?
• Valuations: How do risk models take valuations into account
IAIN PERRY
Head of Performance Analytics and Investment Risk, Morningstar Investment Management
• The need for tailored in house solutions to match the potentially unique investment approach
• Assessing the trade off in flexibility and costs with the outsourced model
• How can a generic performance attribution be made to work?
• The risks of making in house solutions more complex than absolutely necessary
• Is the use case different for private versus public markets?
MODERATOR:
AMANDA CHISHOLM
Director-Legal, Risk, Compliance and Executive Search, Kaizen Recruitment
SPEAKERS:
SIMON CAIRNS
Associate Director, Performance & Risk Analytics, IFM Investors
JAMES THOMPSON
Head of Investment Analytics, Operations, Australia, Perpetual Group
11:00 MORNING COFFEE
MODERATOR:
KYLE RINGROSE
Principal Consultant, Athena IOC
PANEL MEMBERS:
BIANCA BUCKMAN
Partner, BDO Australia
STUART HOY
Buyside Middle Office Senior Solutions Specialist, FactSet
SHWETA KRISHNA
Director, Actuarial Services at Ernst & Young
NICK WADE
Marketing Director, Northfield Information Services
12:40 LUNCH BREAK
• Principles behind assessment of RIS
• Assessing whether funds have the capabilities required to deliver a quality RIS
• Assessing member outcomes in retirement
• Issues with applying the YFYS performance test to retirement products
DAVID BELL
Executive Director, The Conexus Institute
• Defining investment risk in the context of the business
• Risk in the eyes of the investment manager and the asset owner
• The role of the asset owner in setting risk parameters
• The role of an outsourced service provider in risk attribution
MODERATOR:
KYLE RINGROSE
Principal Consultant, Athena IOC
PANEL MEMBERS:
DAVID BELL
Executive Director, The Conexus Institute
IAIN PERRY
Head of Performance Analytics and Investment Risk, Morningstar Investment Management
RHODRI ROBERTS CIPM
APAC Head of Product Management Performance & Analytics, Private Markets, Investment Compliance, State Street Australia Limited
Speakers:
RHODRI ROBERTSAPAC Head of Product Management-Performance & Analytics, Private Markets, Investment Compliance, State Street Australia Limited
DAVID BELLExecutive Director, The Conexus Institute
Iain PerryHead of Performance Analytics and Investment Risk, Morningstar Investment Management (Invited)
Kyle RingrosePrincipal Consultant, Athena IOC
• How AI is transforming traditional performance measurement methods, including real-time data analysis and predictive modelling.
• AI's role in enhancing risk-adjusted returns, attribution analysis, and benchmarking
• Practical use cases of AI in superannuation funds or asset management firms.
• Potential challenges in adopting AI-driven tools, such as data quality, integration with legacy systems, and compliance considerations.
• Future trends in AI applications for investment performance in the superannuation industry.
• Automation of performance measurement and reporting systems.
• Cost-effective solutions for performance attribution and risk management in superannuation funds.
• Improving governance in performance and risk management processes
Closing Remarks from the Chair
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