Industry Updates

Aware Super appoints operations GM 

Aware Super has appointed Winnie Huen to the newly created role of general manager strategy and transformation. 

Equity Trustees to take possession of ANZ’s will bank

Nearly 6000 wills, along with related estate planning documents currently held by ANZ Group, will be transferred to Equity Trustees for management and safekeeping.

REST calls for better super treatment for young workers 

Retail workers industry fund REST has urged the Australian Government to remove a rule that prevents most workers under-18 years old from earning any superannuation after research showed that the majority of Australians supported the change. 

Super for house deposit scheme to taxpayers billions: SMC

Allowing young Australians to tap into their super for a house purchase could cost taxpayers billions (even potentially a trillion) of dollars by the end of the century, a new modelling by Super Members Council shows.

AMP launches private debt option for super members

AMP has launched a debt strategy, which can be accessed by members invested in the MySuper or Future Directions options range.  

HESTA appoints chief financial officer 

Health industry super fund HESTA has appointed Natalie Kelly as its chief financial officer. 

ART and AvSuper complete merger 

Australia’s second-largest super fund Australian Retirement Trust has successfully absorbed the $2.5 billion and 4800 members of AvSuper. 

Prime Super names CEO 

Prime Super has appointed Raelene Seales as chief executive, commencing 3 June 2024.  

Insignia completes $36.8b MLC Wealth migration to Expand

Insignia Financial has successfully migrated over 94,000 client accounts holding $38.6 billion funds under administration (FUA) from MLC Wrap, MLC Navigator, and associated offers to its Expand platform.

Vanguard Super cuts fees

Vanguard Super has reduced its annual administration fees from 0.35 per cent p.a. to 0.33 per cent p.a. with the administration fee cap lowered from $850,000 to $300,000.  

Qantas Super commits $200m to agriculture play

Qantas Super has committed $200 million with agriculture investor GO.FARM to transform underutilised agricultural land into horticultural projects in NSW’s Riverina, northern Victoria and other parts of Australia. 

Two-thirds of Australians underwhelmed by super balances: ART

Research from Australian Retirement Trust has found 67 per cent of Australians don’t feel their superannuation balance is in a good position for their age.

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