Time is running out to keep warming to 1.5°C above pre-industrial levels, so it’s pleasing to see progress by listed Australian companies on net zero pledges and climate-related disclosures. But there are still big gaps on transparency and comparability.
Rich Nuzum, the global chief investment strategist at Mercer, says superannuation funds must resist pressure from government to bankroll national and social infrastructure. While some community projects such as social housing can stack up on pure investment grounds, investment teams and boards need to safeguard themselves against political risks.
Almost a year after the previous case was dismissed, the Federal Court has once again found in favour of CBA and CFS over alleged breaches of conflicted remuneration laws relating to distribution of MySuper product Essential Super.
Industry super fund Australian Retirement Trust is aiming to double the size of its sustainable investments team, with eight new roles planned.
Former Association of Superannuation Funds of Australia CEO Martin Fahy has joined technology and consultancy group Accenture as managing director for strategy and consulting.
GBST’s acquisition of Advice Intelligence will help leverage the digital advice provider’s services to the institutional market amid growing expectations that super funds provide more advice.
Institutional investors have broadly welcomed the advent of a mandatory climate disclosure regime, but the reality is they face a slew of new and complex governance, risk management, planning and testing requirements. It is little wonder HESTA CEO Debby Blakey has called the net-zero push the “biggest transition any of us will be involved in”.
TelstraSuper will raise the ages for member exposure to growth assets for its MySuper lifecycle products.
Robo-adviser Stockspot has received a major strategic investment from asset manager Mirae Asset Global Investments.
Challenger says inking deals with super funds to provide guaranteed income products to members remains a priority, as it reports institutional sales of $5.4 billion in FY23 and partnerships with Telstra Super and Aware Super. About half of super trustees are believed to have a longevity solution in place for members, with that number expected to grow as they race to meet their obligations under the retirement income covenant.
Research house CoreData says members with high account balances are starting to leave funds if they are not getting the level of service they expected. The data on member switching comes as regulators and the federal government pressure funds to improve customer service.
ASIC is inviting industry feedback on a proposal to extend the operation of the ASIC Corporations (Design and Distribution Obligations Interim Measures) 2021/784 instrument for a further five years.
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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