| Abstract: | We examine how executives from the Australian superannuation industry perceive and approach the choice between managing assets in‐house, versus outsourcing to external investment managers. We find that decision frameworks, as well as the perceived benefits and challenges of in‐house management, can be described in terms of four elements: costs, capabilities, alignment and governance. Industry participants address these four elements in diverse ways. This is reflected in a variety of decision approaches, aspects that are considered and emphasised in decision‐making, and implementation structures. |
