Queensland-based Brighter Super will capitalise on the liquidity created by its recent mergers to lift exposure to infrastructure, renewable energy, private equity, and credit. Chief investment officer Mark Rider says take advantage of its size to chase deals bigger funds can’t.
Financial institution Northern Trust has appointed Caroline Higgins as head of global fund services in the Asia Pacific.
TAL will become the official life insurance partner of AFLW, the highest level competition for women’s Australian rules football, for three years.
Minister for Financial Services Stephen Jones has told the Retirement Conference in Canberra today that he will introduce draft legislation to enshrine the purpose of superannuation within months. It comes amid a push by the Albanese government to force the sector to lift customer service standards, especially on retirement income.
ASIC’s consumer-focused general financial advice website Moneysmart achieved almost 10 million users during the past financial year.
Industry super fund HESTA is now internally managing almost 10 per cent ($7 billion) of its portfolio in-house, eighteen months after it launched its internalisation strategy.
Superannuation executives who have embraced the dangerous occupation exemption (DOE), a carve-out from Putting Members Interest First (PMIF) legislation introduced three years ago, have voiced surprised so few peers have followed suit. Cbus head of insurance Noel Lacey said his fund had been able to provide 210,000 members with automatic insurance cover since April 2020.
Dixon Advisory director Paul Ryan will face civil charges for alleged breaches of director duties after ASIC alleges he made decisions that were to the advantage of Dixon holding company E&P Operations – where he was also a director – rather than the insolvent firm’s creditors.
The Albanese government has released a consultation paper examining the regulatory framework for Managed Investment Schemes to ensure it remains fit‑for‑purpose and effectively protects investors from unnecessary financial risk.
Industry super fund Cbus Super has appointed Leigh Gavin as head of portfolio strategies to help implement its five-year strategy to internalise over half its assets under management and improve global partnerships to gain access to more investments.
The federal government and opposition have squared off over suggestions that retirement savings could be utilised to take pressure of the ailing aged care system. While Minister for Financial Services Stephen Jones has indicated super could be part of the conversation about the “crisis of aged care funding”, Deputy Opposition Leader Sussan Ley said it would further undermine consumer trust in the super system.
Viridian Financial Group has acquired mortgage broker Smartmove Professional Mortgage Advisors.
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