Equities
Future Fund boosts active equity program with new EM manager
Australia’s sovereign wealth fund has added an active equity strategy from a local boutique manager to its emerging markets allocation and dropped one of its existing providers after signaling it had identified “inefficiencies” in the space.
Investments
Private credit managers say investor concerns are overhyped
Investment leaders in private credit have dismissed concerns about the asset class, arguing the real issue is a mismatch between the liquidity of the asset class and the expectations of non-institutional investors.
Investments
‘Not an ATM’: Sicilia shrugs off private credit liquidity fears
The chief investment officer of the $150 billion industry super fund says that Hostplus’ portfolio will weather the ongoing downturn in software companies and that moves by a number of large private credit managers to gate their funds are a result of the asset class being offered to retail investors who should not have assumed the funds would be liquid enough to get money out when everybody else is trying to do the same.
Governance
Third HESTA exec heads for the door in less than 12 months
The departure of the $100 billion HESTA’s chief operating officer Stephen Reilly follows those of chief executive Debby Blakey and chief risk officer Andrew Major, and is part of a shake-up among the broader senior ranks of Australian super funds.
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21 July, 2026
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19 August, 2026
Retirement Leaders Summit
Investments
Realities behind the SaaS sell-off
The roughly US$2 trillion ($2.8 trillion) sell-off in the global software sector since September 2025 is, while a painful drawdown for growth investors, also a timely reminder that asset owners should be more alert to stock-specific dispersion and hidden concentration risk inside portfolios, writes JANA head of research execution, Matthew Gadsden.
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Rest eyes changes to lift its investment team ‘from great to greater’
The $100 billion profit-to-member fund Rest Super is mulling an expansion and upgrade of its investment team as it seeks new ways to invest a growing pool of assets and continue to generate competitive performance for its 2.1 million members. The fund’s newly appointed chief investment officer Michael Clancy tells Investment Magazine that staying connected to the fund’s membership is an important part of the job.
Profiles
First Nations’ inclusion in super hinges on fairness
First Nations people continue to be excluded from participating fully and effectively in superannuation by both legal and organisational barriers. First Nations Foundation managing director Leah Bennett says funds themselves can do much more to help, but change must start at the top.
Member engagement
Super funds urged to lift member outcomes despite reform delays
Australia faces similar demographic challenges to other developed economies in providing a high standard of living to retirees in an ageing population. But we have weakened our system through blocking access to financial advice and delaying reforms to reverse the roadblocks, superannuation industry leaders told the Retirement Policy Outlook 2026 roundtable, hosted by Investment Magazine sister publication Retirement Magazine in partnership with Acenda. The roundtable also featured insights from ASIC Commissioner Simone Constant; APRA deputy chair Margaret Cole; Resolution Life founder, chief executive and chair Sir Clive Cowdery; and Dr David Bell of The Conexus Institute.
Governance
Super switching paranoia drives misinformation campaign
The Super Members Council representing profit-to-member funds claims younger and lower-balance Australians are being transitioned by advisers to “risky” platforms and SMSFs, while the Financial Services Council has fired back with data suggesting it is mostly older, wealthier consumers being advised to switch their super. Aleks Vickovich writes the truth, as usual, is probably somewhere in between.
Governance
Mandating super for nation-building risks flight to SMSFs: Pearce
Directing super funds to invest in nation-building projects could see money flow from the APRA-regulated system and into SMSFs, according to UniSuper CIO John Pearce, who also suggested that super funds were hitting portfolio limits for unlisted assets.
Industry & regulation
Funds face new discretion under plan to block abusers from death benefits
The Albanese government is exploring legislative options to stop domestic violence abusers from gaining control of their victims’ superannuation through death benefits. While this could give trustees greater discretion in assessing a deceased member’s circumstances, complicated cases may add further strains to an already stressed payout process.
Investments
Why markets won’t go back to normal after Iran
The war in Iran heralds a period of prolonged market and economic disruption rather than a “short, sharp shock”, according to BlackRock. But investors can’t afford to tear their eyes away from market shifts already underway before the war began.
Fixed income
AustralianSuper pares back bonds in favour of growth assets
The $410 billion AustralianSuper has been dialling back its fixed income allocation in favour of growth assets as it positions for a “constructive” economic environment, but the asset class remains a critical portfolio stabiliser and an important tool in complementing the fund’s risk objectives. Head of fixed income and currency Katie Dean talks scale and internalisation advantages.
