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Future Fund looks to slash external tech spend in cost-cutting drive

Future Fund looks to slash external tech spend in cost-cutting drive

The $335 billion Future Fund is hoping to find tens of millions in cost savings by consolidating arrangements with external data and tech providers and putting a number of roles under review as it reconsiders resourcing in a volatile investment environment that it “expects to endure”.

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Why funds need to deal with TPA’s ‘free rider’ problem 

Why funds need to deal with TPA’s ‘free rider’ problem 

More and more super funds are pivoting to the TPA approach, but will need to confront the long-standing issues with accountability that come with it if they want that model to be sustainable into the future.

Geopolitical risks rewire asset allocation ‘operating system’: GIC

Geopolitical risks rewire asset allocation ‘operating system’: GIC

Some investors are “missing the point” of geopolitical risks by equating them to the disruptions from conflicts and wars, according to GIC chief economist Prakash Kannan, but in reality, geopolitical risk is no longer episodic or peripheral. This means investors need to think harder about inflation and country composition in their portfolio.

ACSI says ASX must work hard to ‘rebuild trust’ following governance inquiry

ACSI says ASX must work hard to ‘rebuild trust’ following governance inquiry

The Australian Council of Superannuation Investors, the proxy adviser serving a host of profit-to-member super funds, says it is “critical” the ASX address shortcomings identified in an ASIC review of its governance, capability and risk management frameworks.

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Leadership
Lessons from the middle: Leadership, resilience and the courage of conviction

Lessons from the middle: Leadership, resilience and the courage of conviction

The principles of high-performance leadership – whether in business or sport – remain remarkably consistent and include the ability to maintain clarity, integrity, and conviction under immense pressure. Former Australian test cricketer Usman Khawaja told the Fiduciary Investors Symposium, held by Investment Magazine sister publication Top1000Funds.com, that the only time you really lose is when you stop trying.

Profiles
‘Not afraid of the size we are’: NGS pushes ‘alternative scale’ as churn slows

‘Not afraid of the size we are’: NGS pushes ‘alternative scale’ as churn slows

NGS Super is on a mission to reduce its member churn with a bid to lean into its “alternative scale” as a small player in a superannuation landscape dominated by increasingly mammoth funds. Chief executive Natalie Previtera says the transition to Grow – which she calls the Ferrari of admin systems – is one of the first crucial steps.

What the super industry can learn about leadership under pressure

What the super industry can learn about leadership under pressure

A willingness to make tough decisions in difficult circumstances characterises the careers of both former Western Australia Premier Mark McGowan AC and the neurosurgeon Dr Charlie Teo, and will provide the Investment Magazine Insurance in Super Summit with insights into the secrets of effective leadership in a challenging environment.

Member engagement
Podcast: Pension Policy Series Ep 2

Podcast: Pension Policy Series Ep 2

The Conexus Institute executive director, Dr David Bell, and research fellow, Dr Geoff Warren, discuss key legislative reforms currently in the pipeline that need to be expedited by the government to support funds in their development of better outcomes for members.

Governance
Third HESTA exec heads for the door in less than 12 months

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.

Building better super boards: the essential skills mix

Building better super boards: the essential skills mix

What does an effective superannuation fund board look like in today’s complex and competitive landscape? Nicolette Rubinsztein draws on almost 10 years of board experience across superannuation and other sectors to outline seven key insights into crafting the optimal combination of skills on super fund boards.

Industry and regulation
Funds face new discretion under plan to block abusers from death benefits

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
Future Fund boosts active equity program with new EM manager

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.

Why markets won’t go back to normal after Iran

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.