Unit Pricing Workshop Outline
After 50 years in Financial Services Kyle has recently retired from the role of Head of Investment Operations at QSuper. Kyle joined QSuper in 2010 to form the inaugural Investment Operations team to support the insourcing of the investment management function. In addition to authoring QSuper’s Unit Pricing policies and implementing their unit pricing control framework he has introduced QSuper’s securities lending program and has been instrumental in the development of a number of industry leading strategies including Lifetime Accumulation, tax segregation of assets and development of fund wide post-tax performance measurement methodologies. Kyle has previously provided consulting services to a number of major industry players and continues to do so during retirement. He has authored numerous articles in industry publications and continues to present frequently on a range of topics at conferences both in Australia and overseas.
Workshop Timing: 9:00 am – 4:45 pm
This workshop takes the participants through the rationale and practical implementation of each stage of a robust unit pricing governance framework. Presentation slides are available as templates for attendees where they feel this may add value their own organisation.
We go through the what, why, how and who of each stage to give participants an appreciation of the unit pricing big picture as well as a deeper dive into key issues.
We commence with the evolution of unit pricing since the mid-1980s and how governance has evolved over time. We review some of the objectives, strengths and weaknesses of the Guide to Good Practice We explore some major unit pricing issues, including arbitrage and tax provisioning. These sessions include real life examples of how things can and have gone badly wrong in the past and how such problems can be avoided going forward.
Then we move on to provide templates, practical examples of and reasons for the implementation of a ﬁve step unit pricing governance framework i.e. principles, policies, controls, monitoring and reporting.
We later take a realistic look at the politicians’ recent proposals (a) to tax the investment earnings of pension assets and why this may have a signiﬁcant impact on unit pricing and (b) changes to the transition to retirement pension.
The ﬁnal session of the day provide an insight into the recent announcements from two super funds re crediting a bonus to members on transition to pension phase and how this may impact unit pricing.
Principal, Athena IOC