Managed fund attributes and performance : Australian evidence

This cross-sectional study goes beyond the traditional performance evaluation of managed funds and extends the literature to consider fund-specific attributes that influence performance. Using a sample of 168 Australian open-ended equity funds, the risk adjusted performance is measured using three alternative evaluation techniques. We find that funds with higher management fees and long fund history have contributed to the underperformance. Along with the traditional attributes identified by the literature, market capitalisation of the security held by the fund is included as a unique attribute with significant results, indicating that funds targeting small capitalisation companies display superior performance.

Managed fund attributes and performance

This cross-sectional study goes beyond the traditional performance evaluation of managed funds and extends the literature to consider fund-specific attributes that influence performance.. Using a sample of 168 Australian open-ended equity funds, the risk adjusted performance is measured using three alternative evaluation techniques. We found funds with higher management fees and senior in age have contributed to the underperformance. Along with the traditional attributes identified by the literature. market capitalisation of the security held by the fund is included as a unique attribute with significant results indicating that funds targeting small capitalisation companies display superior performance.

An analysis of the antecedents of satisfaction for superannuation fund members

The factors influencing the satisfaction of superannuation fund members are poorly understood at present, due to a paucity of research. This study looks at the relative influence that five key aspects of the offering of a mid-size Australian Superannuation Fund have on overall satisfaction. Despite the long-term nature of the product and efforts to educate members to think otherwise, short-term financial performance remains a strong influence on member satisfaction. With financial returns varying annually and to a large degree being out of the control of fund managers, the focus on this aspect as the main influence on satisfaction levels is problematic. The evidence suggests that shifting the focus of members towards longer period assessments (eg returns over the past five years) and towards aspects of the funds' offering that are points of differentiation (eg enquiry handling) is the only way to prevent large fluctuations in satisfaction levels and possible defections.

SCLOPE: an algorithm for clustering data streams of categorical attributes

Clustering is a difficult problem especially when we consider the task in the context of a data stream of categorical attributes. In this paper, we propose SCLOPE, a novel algorithm based on CLOPErsquos intuitive observation about cluster histograms. Unlike CLOPE however, our algo- rithm is very fast and operates within the constraints of a data stream environment. In particular, we designed SCLOPE according to the recent CluStream framework. Our evaluation of SCLOPE shows very promising results. It consistently outperforms CLOPE in speed and scalability tests on our data sets while maintaining high cluster purity; it also supports cluster analysis that other algorithms in its class do not.

History and attributes of selected Australian multi-tenure reserve networks

The need for conservation planning across the landscape, regardless of tenure, is widely recognised. In Australia, attempts to coordinate the management of conservation lands are characterised by models such as Biosphere Reserves and Conservation Management Networks. This paper outlines the history behind the formation and development of three networks in Australia—the Bookmark Biosphere Reserve, the Gippsland Plains Conservation Management Network, and the Grassy Box Woodlands Conservation Management Network—with particular emphasis on the tenure and protection attributes of the various components within these networks. Despite having a similar number of components, the total area represented in the networks varied markedly. There were few similarities in the proportion of components of various tenures and protection mechanisms among networks. Composition of networks is likely to be strongly influenced by both historical factors (degree of subdivision, land ownership and remaining vegetation) and contemporary factors (aims of the network and willingness of landowners to participate). Continued research into both the evolution and the physical and social dynamics of multi-tenure reserve networks enables a better understanding of their operation, and will ultimately assist in improved conservation planning across the landscape.

Public land use planning using bioregions and other attributes : determining the study area of the VEAC river red gum forests investigation

In order to plan for the best use of public land at a regional scale the determination of an appropriate regional boundary is important for ecological, resource use and recreational reasons. The study area for the Victorian Environmental Assessment Council's (VEAC) River Red Gum Forests Investigation incorporated bioregional boundaries, modelled pre- I750 vegetation distribution, recent public land use investigations, and the distribution of public land. This paper outlines how ecological attributes and past land use studies were used to inform the boundary for this major study of public land along the Murray River in northern Victoria.

Ecological attributes of strategic land acquisitions for addition to Victoria's public protected area estate : 2004-2005

The development of a comprehensive, adequate and representative reserve system is the key objective of the National Reserve System, and is supported by all Australian States and Territories. In Victoria, the purchase of private land for incorporation into the parks and reserves system assists in the protection of some of the State’s most endangered ecosystems. This article outlines the ecological attributes of private land purchased for addition to the Victorian public protected area system between 2004 and 2005.

Walkability of local communities: using geographic information systems to objectively assess relevant environmental attributes.

Geographic Information Systems (GIS) can be used to objectively measure features of the built environment that may influence adults’ physical activity, which is an important determinant of chronic disease. We describe how a previously developed index of walkability was operationalised in an Australian context, using available spatial data. The index was used to generate a stratified sampling frame for the selection of households from 32 communities for the PLACE (Physical Activity in Localities and Community Environments) study. GIS data have the potential to be used to construct measures of environmental attributes and to develop indices of walkability for cities, regions or local communities.

A Euro-American-Australian study of the mechanical engineering profession as a foundation for the study of mechanical engineering attributes

The increasing attribute focus in the formation (engineering education, training, work-based learning and experience) of engineers now being adopted by engineering education accrediting bodies is based on meeting the perceived needs of professional practice. Related to this is an increasing expectation of new graduates being work-ready rather than relying on work-based learning and experience to develop many of the essential professional practice attributes.

The scope of the mechanical engineering profession is broad and practitioners contributing to debate on attribute requirements have their own individual views of the nature of the profession, largely influenced by their own professional formation. As a foundation for detailed study on attribute requirements for effective Australian professional mechanical engineers, in this paper we provide a concise study of the development of the established scope of practice and knowledge base of the profession over the last two centuries. Formation practices in Europe and the United States played significant roles in the 19th century.

We conclude with a discussion on the impact of the considerable changes currently affecting mechanical engineering practice in the UK, US and Australia, including organisational, technical and societal expectations, industry profile, and educational factors.

Using shopping mall attributes to revitalise Australian small town retailing

As has occurred in many smaller rural communities in America, Europe and Canada much of inland Australia has experienced population decline involving both a net loss of people a disproportionate ageing of the population and low average family incomes. Some Australian country towns have ceased to function as retail and administrative centres while other rural areas are faced with the prospect of losing critically important retail outlets and service providers. Australian rural towns are under threat from residents outshopping at nearby large regional centres leading to the loss of businesses and services in small service towns. This paper explores the possibility of how and why retailers and service providers in Australian country towns can and should emulate certain attributes of shopping malls in an attempt to stem the rise of outshopping. Using data collected in one small Australian rural community the paper comments on residents' perceptions of the strengths and weaknesses of retailing and the provision of services in their local community and what respondents thought should be done to diminish retail leakage from their town. Based on their responses it is clear that to remain competitive, retailers in smaller rural towns need to learn from the experience of shopping malls with whom they must now compete to survive. In this paper, it is argued that in certain areas this is not only possible, but essential if retailing is to remain viable in Australian country towns.

Loyalty program attributes and their influence on retail customer satisfaction

This paper empirically examines the extent to which loyalty program attributes explain variations in satisfaction with the retail offer. Two dimensions of loyalty program attributes are introduced including hard attributes and soft attributes. Store satisfaction is examined in terms of the elements of the retail offer. The results suggest that emphasis on hard and soft attributes enhance customer satisfaction with a retailers’ merchandise, trading format, customer service and customer communication. Additionally, hard attributes have a more significant influence than soft attributes on satisfaction with all elements of the retail offer excluding merchandise.

Case study research into Australian mechanical engineer attributes

The 1996 Johnson report on Australian engineering education recommended the development of a limited number of broadly defined attributes in engineering graduates as well as a broader based engineering
education. Within a year the Institution of Engineers, Australia responded by switching the focus of its engineering course accreditation to graduate attribute outcomes. It was to be the role of engineering school advisory panels to give greater definition to those attributes, but the scope of engineering is broad and the views of advisory panel members are largely influenced by their own often unique professional formation.
This paper presents a single discipline case study approach to identify the relative significance of a wide range of attributes required for the most common mechanical engineering roles in those industries that employ the greatest number of Australian mechanical engineers. Six industries were
identified that between them employ more than half of all Australian mechanical engineers, and most frequent or generic mechanical
engineering roles within those industries were studied.
Key findings of this research are then reviewed in the context of changing global engineering environment and educational practices.

Online student portfolios for demonstration of engineering graduate attributes

Engineers Australia is the Australian professional body that accredits undergraduate engineering programs. It espouses an ‘outcomes-based’ program accreditation philosophy, but imposes mandatory ‘process’ requirements for off-campus programs that are in addition to the requirements for conventional on-campus programs. The focus on off-campus engineering study raises the question: how can learning outcomes, regardless of mode of study, be effectively measured? The current answer appears to be ‘graduate attributes’. The literature reveals a range of sophistication in approach to graduate attributes from identifying desirable graduate attributes, through to evidence-based certification of individual student attainment of graduate attributes. Many engineering accrediting bodies around the world identify student portfolios as a strategy for demonstrating student attainment of graduate attributes. The increasing use of online technology by students and educators alike, including as part of assessment, means that many of the reported applications of student portfolios are online portfolios. The effectiveness of online student portfolios will depend on them being embedded in day-to-day educational practice, rather than being an optional extra given a low priority by busy students. This paper presents a survey of the related literature and briefly outlines a project in progress at Deakin University to trial an online student portfolio.