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GBST Quant and S&P/ASX indices provide after-tax benchmarks for new Russell After-Tax Survey

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Published: 29/08/2012

GBST (ASX:GBT), the global provider of technology solutions to the financial services industry, today announced that its GBST Quant capabilities, based on the official S&P/ASX pre tax indices, are to be published in the opening Russell Investments new After-Tax Survey due to be launched this month. With over 100 fund manager portfolios now relying on GBST Quant for after-tax calculations, this latest agreement confirms GBST’s position as the largest provider of customisable after-tax benchmarking in the country.

GBST Quant will provide customised after-tax benchmarks based on S&P/ASX 200 index and S&P/ASX Small Ords index data  calculated on Russell methodology for the new Russell After-Tax Survey.

Russell Investments has designed the After-Tax Survey to provide fund managers with the ability to measure how various Australian Equities portfolios may perform on an after-tax basis and meet an increased level of interest from investor’s to assess their after-tax position.

The customisable after-tax benchmarks from GBST Quant, based on S&P/ASX Index data and methodology will allow funds to compare on an after-tax basis to some of the most commonly used S&P/ASX indices, based on the simple Russell methodology.

For Raewyn Williams, Russell Investment’s director of after-tax investment strategies, having GBST Quant be able to provide after-tax benchmark data for the very first release of the survey was a welcome inclusion.

Williams commented: “After being approached by many participants in the industry, we saw a need to provide this survey which complements our existing after-tax consulting and product offerings. We had intended looking at including benchmark provider data down the track but are delighted that we can include these benchmarks from GBST in this first release of the survey”.

According to Kathy Taylor-Hofmann, Head of GBST Quant Division, the provision of after-tax benchmark data for the Russell After-Tax Survey is broadening the level of information available in the After-Tax space. “This is highly positive as it will go further to encourage more tax-aware investing in the Australian investment space,” Taylor-Hofmann outlined.

“We are aligned to GBST’s after-tax custom index strategy,” confirmed Guy Maguire, Head of S&P Dow Jones Indices – Australia. “A universal approach to after-tax benchmarking may be useful under certain circumstances however we believe that the market is best serviced through the provision of robust custom built after-tax indices to accommodate for the specific reporting needs of fund managers and superannuation funds,” he said.

“GBST Quant already provide the calculations for the majority of after-tax benchmarks in use in the Australian market place. The addition of the Russell methodology- based benchmarks rounds out the overall spread of benchmark types that they already offer to the industry,” stated Maguire.

“We are delighted to be associated with an expert in after-tax investing, as we firmly believe that our customisable after-tax benchmarking data is key to making this more beneficial after-tax investment approach for investors more appealing to the industry as a whole. We feel very confident that many fund managers will see great benefit in participating in the new Russell After-Tax Survey,” Taylor-Hofmann concluded.

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