Industry Updates

Federated Hermes establishes partnership with GASP

Investment manager Federated Hermes has partnered with The Global Alliance for a Sustainable Planet (GASP) in the leadup to COP28 in the United Arab Emirates. 

CFS Edge adds Morningstar managed accounts

Colonial First State (CFS) has expanded investment choices on its CFS Edge platform with a range of managed accounts from Morningstar.

AustralianSuper wins Origin Energy campaign

Shareholders in ASX-listed Origin Energy have rejected a takeover bid by a consortium led by private equity giants Brookfield and EIG.  

Rest appoints CFO

Rest has appointed John O’Sullivan as its chief financial officer, after he led the division during the recruitment process.

Integro Private Wealth makes pair of appointments

Western Australian advice Integro Private Wealth has appointed Adam Pontague as a private wealth adviser, aligned with the firm’s continued expansion and heightened demand for private wealth services.

NZ Super Fund appoints acting CEO

The Guardians of NZ Superannuation, the crown entity that manages the $65 billion NZ Super Fund, has named Paula Steed as acting CEO, moving from her current role as general manager of strategy and shared services.  

AMP appoints two non-executive directors to board

AMP has appointed Kathleen Bailey-Lord and Anna Leibel as independent non-executive directors to the board.

Drawdown knowledge gap exists among retirees: Survey

A study has found that among retirees who drew down their super at the minimum legislated rate last financial year, 19 per cent thought the number was a government recommendation, highlighting a gap in understanding about the requirements among the public.

OnePath penalised $5m for fees for no service

The Federal Court has ordered superannuation trustee OnePath Custodians to pay a $5 million penalty for making false or misleading representations about its right to continue charging fees, and for failing to provide services to members efficiently, honestly and fairly due to its misleading conduct and by deducting fees when not entitled to do so.

Allianz Retire+ released updates to longevity solution AGILE

Allianz Retire+ has updated its longevity solution Allianz Guaranteed Income for Life (AGILE), introducing two new options, Age Pension+ and Spouse Insured.

Inflation erodes Australians’ retirement confidence: MFS survey

More than half (59 per cent) of Australians said inflation has changed the way they think about retirement in the past 12 months, with 54 per cent opting for a more conservative investment approach, according to the 2023 MFS Global Defined Contribution Survey. 

Over half of Australians unsure of their retirement options: Research

Close to two in three Australian non-retirees don’t know about existing retirement income products offered by their super funds, according to new research by Investment Trends and life insurer TAL. 

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