But when the Queensland Investment Corp of Brisbane, Australia, pension fund used internet technology in the process of selecting a manager for more than $300 million in assets earlier this year, it marked the first time that new economy techniques had been applied to a long-unchanged market practice.
Rather than filing through numerous proposals from a range of money managers, the fund used technology to streamline the process of narrowing down the field to a short-list of candidates that suited the performance goals and investment preferences of the portfolio’s trustees and investors.
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