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ART says ‘inferior’ proposed YFYS changes increase systemic risk

ART says ‘inferior’ proposed YFYS changes increase systemic risk

The $370 billion Australian Retirement Trust says that the proposed introduction of a CPI+X benchmark for “emerging asset classes” or the move to a simple reference portfolio in the Your Future Your Super performance test would heighten system-wide risk without improving investment outcomes.

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Frontier gets ‘final piece in puzzle’ for OCIO solution

Frontier gets ‘final piece in puzzle’ for OCIO solution

Frontier Advisors has locked down a custodian for the outsourced investment service it created through a lift-out of State Super’s investment team and says that it is ready to start shopping its services to the 20-plus targets it has already identified.

Super funds fail to turn the page on claims handling 

Super funds fail to turn the page on claims handling 

Every time the superannuation sector attempts to flip the script on insurance and death benefit claims handling, it somehow keeps getting dragged back into the spotlight for all the wrong reasons.

What a brief encounter with Elon Musk taught me about the limits of capitalism 

What a brief encounter with Elon Musk taught me about the limits of capitalism 

A brief encounter with Elon Musk in 2013 showed that he would not flinch at rolling the dice, writes Conexus Financial founder and managing director Colin Tate AM. But SpaceX’s mega-IPO demonstrates that citizens, regulators, capital allocators and advisers need to decide whether they are comfortable with who is holding those dice.

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Profiles
GESB CEO calls time: ‘Past regime of default super’ no longer sustainable

GESB CEO calls time: ‘Past regime of default super’ no longer sustainable

GESB chief executive Ben Palmer is set to leave the Western Australian government super fund, ending a 13-year tenure after steering the fund through the most significant change in its history. In a rare interview, Palmer examines the past, present and future of super and explains why GESB is treating platforms, not profit-to-member funds, as its benchmark.

Why HESTA’s ‘joined-up thinking’ is one of its CIO’s favourite things

Why HESTA’s ‘joined-up thinking’ is one of its CIO’s favourite things

Sonya Sawtell-Rickson joined HESTA as the health industry workers’ super fund was taking steps towards investment internalisation and a total portfolio approach. She says the moves have been vindicated not only by member returns but in the “joined-up” conversations the now-$96 billion fund has with the companies it invests in.

Member engagement
‘The brain never retires’: Superannuation’s medical moment

‘The brain never retires’: Superannuation’s medical moment

Neurologist Professor Matthew Kiernan says a rewarding, fulfilling and dignified retirement has as much to do with what goes on inside a member’s head as it does with money. But with funds conditioned to focus on the financial aspects of retirement, issues such as brain health aren’t getting the recognition or support they need, and members are the potential losers.

Governance
Super complaints expected to reach 8000 in 2026: AFCA 

Super complaints expected to reach 8000 in 2026: AFCA 

Superannuation complaints to AFCA are on track to exceed 8000 this year, a second consecutive year of around 30 per cent increases. Heather Gray, who is retiring in May after six years as lead ombudsman for superannuation, told the authority’s Member Forum that the answer to reducing complaints lies in empowering funds’ IDR teams and communicating with complainants and AFCA early. The forum heard that handling unreasonable people is a critical skill.

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.

Investments
How Cbus built its new Australian equity strategy from scratch

How Cbus built its new Australian equity strategy from scratch

Ryan Riedler, head of ASX core strategy, Australian equities at Cbus, says the fund will look to generate alpha locally through engagement and that internalisation will help it strengthen its connection with other market participants, as well as its brokers and service providers.

Herding, currency emerge as ‘systemic risk’ to super investors

Herding, currency emerge as ‘systemic risk’ to super investors

An Investment Magazine roundtable of senior super sector executives, in partnership with Northern Trust, has heard that the herding and peer ranking mentalities exacerbated by the Your Future Your Super performance test pose a risk to the long-term fiduciary thinking of investment teams. The conversation was informed by research on the systemic impact of ‘big super’ from The Conexus Institute and warnings from agencies including the Reserve Bank of Australia and International Monetary Fund.