SEATTLE, Dec. 18, 2012 /PRNewswire/ -- Parametric, a
majority-owned subsidiary of Eaton Vance Corp. (NYSE: EV), has been
appointed by Sydney, Australia
based Qantas Superannuation Limited (Qantas
Super), to provide an efficient implementation platform for
Qantas Super's listed Australian and
global equity portfolios.
Parametric has over 20 years' experience in managing equity
portfolios with after-tax returns as a key objective, and has the
technology, experience and skills, to systematically deliver
efficient portfolio implementation.
"At Qantas Super, we are committed to reducing investment costs
through the implementation of processes that increase savings
potential for our member base. Parametric's appointment was a clear
step for us in our drive towards greater transparency and more
efficient investing. We have long held the view that returns should
be measured and assessed on an after-tax basis because this is what
matters most to our members," said Andrew
Spence, Chief Investment Officer of Qantas Super.
Chief Executive of Parametric Brian Langstraat added,
"Australia is a very important
market for Parametric and we're proud to add an organisation of
such caliber to our growing portfolio of clients. We are fully
committed to building our operation and presence here, drawing on
our direct research and technology experience in the after tax
space."
Parametric will apply an agreed methodology to report both the
before-tax and after-tax returns of Qantas
Super's Australian and global equity portfolios, as well as
attributing the performance to pre-tax and after-tax returns.
After-tax returns can give a materially different view of the
real value that managers deliver to clients and the ranking of
these managers, compared to assessments made using pre-tax
returns.
Australia's retirement savings
("superannuation") industry is adapting to meet the Australian
government's new legislation coming into effect on January 1, 2014. In an effort to improve the
efficiency, competition and transparency of Australia's superannuation industry, the
legislation requires superannuation funds to promote the financial
interests of members, in particular net returns, which is the real
return after fees, costs and taxes.
About Parametric
Parametric is a Seattle-based investment management firm
focused on the delivery of rules-based, risk-controlled strategies,
including engineered alpha-seeking portfolios, options strategies
and customized equity and centralized portfolio management
implementation services. As of October 31,
2012, Parametric managed $53.4
billion in assets on behalf of institutions, high-net-worth
individuals and fund investors in the U.S. and
internationally. Parametric is a majority-owned subsidiary of
Eaton Vance.
About Eaton Vance
Eaton Vance Corp. is one of the
oldest investment management firms in the
United States, with a history dating to 1924. Eaton
Vance and its affiliates managed $199.5.billion in assets as of October 31, 2012, offering individuals and
institutions a broad array of investment strategies and wealth
management solutions. Eaton Vance's long record of providing
exemplary service, timely innovation and attractive returns through
a variety of market conditions has made it the investment manager
of choice for many of today's most discerning investors.
About the Qantas Superannuation Plan
The Qantas
Superannuation Plan is one of Australia's leading corporate superannuation
funds and is run for the benefit of current and former employees of
Qantas Airways Limited and its associated companies. The Plan
has been operating since 1939 and now has over 33,000 members and
assets of approximately AUD $6
billion.
SOURCE Parametric