Leading insurers have warned there is a risk that future governments could decouple insurance from superannuation if it is not explicitly referenced in the legislated objective for the system, worsening under-insurance. But Minister for Financial Services Stephen Jones says insurance is “important”, but not core to super’s purpose.
Franklin Templeton has appointed Chenelle de Rozario Harding as a senior alternatives specialist.
Bravura Solutions has appointed Andrew Russell as group CEO and managing director following an extensive global search process.
Investment management firm T. Rowe Price has appointed Caroline Ramscar as an ESG investment specialist for the APAC region.
The nation’s two largest superannuation funds, AustralianSuper and Australian Retirement Trust, say the time has passed for a sweeping review of group insurance settings, as recommended by the Productivity Commission. The comments come as newly released official figures suggest a 136 per cent increase in super-related claims complaints in FY23.
Mandates with large employers contributed $648 million in net flows to Insignia Financial’s funds under administration in the last quarter of FY23. CEO Renato Mota says 11 of the ASX 30 are clients of the wealth giant’s workplace super business, and he wants to attract more of them.
The Bentham Global Income Fund has been added to the CFS First Choice platform.
Magellan Financial Group has appointed former Janus Henderson executive Andrew Formica as a non-executive director.
Pengana Capital Group has appointed Mercer as an investment adviser on the portfolio construction of Pengana Credit, its recently launched private credit arm.
After two years in the role, AMP chief investment officer Anna Shelley is seizing control of the investment function after years of reliance on AMP Capital. She is investing in private markets and asset allocation expertise, while simultaneously placing more business with specialist managers.
Global fintech GBST has nabbed Advice Intelligence after major investor Regal Funds Management withdrew its holding in the company.
Financial planning business coaching service Slipstream Group has appointed Nina Forbes as a business coach.
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