Governance

Louise Davidson ACSI CEO (Photo: Matt Fatches)

Fund Governance

ACSI singled out in Fed proxy advice crackdown: Louise Davidson

The six-plus page Treasury consultation paper is clearly aimed at ACSI which is the only proxy organisation that is a membership organisation whose members are super funds, Davidson highlights.

Stewart HawkinsMay 10, 2021

Policy and Regulation

YFYS performance test tweaks to enhance accuracy, transparency

The inclusion of administration fees and benchmarks for unlisted infrastructure and property investments headline amendments to the Your Future, Your Super draft regulation. While flaws remain in the design, most believe the performance test has been significantly upgraded.

Tahn SharpeApril 28, 2021

Fund Governance

Funds are deep in listed benchmark comparison analysis: Frontier

Funds well ahead of the listed benchmark will have the luxury of continuing to focus on their CPI-plus or peer performance expectations and not be too concerned about the YFYS test in the near term, Frontier's Paul Newfield notes.

Matthew SmithApril 26, 2021

Fund Governance

Holistic equities approach needed for climate change action

Australia’s $2.9 trillion of superannuation assets are becoming an increasingly powerful force for action on climate change, but experts are calling for a more holistic approach to equities that covers the entire value chain.

Ben HurleyApril 16, 2021

Fund Governance

Funds are holding 100s of millions in excess reserves: Analysis

Some of the country’s largest funds have in some cases accrued more than nine-times the operational risk financial reserve requirement set by APRA with a handful of large funds bulking up their general reserves.

Matthew SmithApril 14, 2021

Fund Governance

APRA inaction likely contributed to performance test policy creation

A reluctance or lack of appetite by the Australian Prudential Regulatory Authority for enforcement against underperforming superannuation funds has likely played a role in the creation of the Your Future, Your Super performance test, a Senate Committee has heard.

Matthew SmithApril 7, 2021

Policy and Regulation

YFYS performance test: Implications for ESG

Strategies that have a lower alignment to the performance test benchmarks could become high risk for trustees as they could lead to failure of the test, over certain periods, despite longer-term outperformance, Mercer's Barlow points out.

Emily BarlowMarch 31, 2021

Fund Governance

How funds foot penalties and remediation still not clear

Even in cases where remediation programs have begun or actions have been taken and where remediation is possible, regulators and government remain unclear about how trustees can direct funds to pay without impacting member balances, a House or Reps committee has heard.

Matthew SmithMarch 29, 2021

<2of94>