Firetrail executive joins RIAA panel
Firetrail head of investment strategy Anthony Doyle has joined the certification assessment panel of Responsible Investment Association Australasia.
APRA finalises standard on operational risk
The Australian Prudential Regulation Authority (APRA) has finalised a new prudential standard to ensure banks, insurers and superannuation trustees better manage operational risks and respond to business disruptions.
ESSSuper named top-performing balanced fund in FY23
Emergency services industry fund ESSSuper was the top-performing balanced super fund for the 2022-23 financial year, returning 13.3 per cent for its balanced growth option, according to researcher SuperRatings.
Nanuk appoints portfolio manager
Sustainable investment-focused fund manager Nanuk Asset Management has appointed John Lobb as a portfolio manager. Lobb has over 32 years of experience as an equities analyst and portfolio manager. Before joining Nanuk, he was a global equities portfolio manager and senior analyst at Insync Funds Management. Previously, he held key investment positions at Orion Asset … Read more
‘Great outcome’: CFS reaches $100m settlement with FirstChoice members
Colonial First State will pay $100 million to settle a lawsuit claiming damages from grandfathered commissions and fees for no service. The outcome has been welcomed by applicants in the class action, despite the former CBA wealth arm not admitting any wrongdoing.
Signs of strain in APRA’s engagement with super trustees
An independent review of APRA’s oversight of the superannuation industry, led by former Macquarie CEO Nicholas Moore, has recommended the prudential regulator improve its communications with trustees and proactively plan for systemic risks, such as valuation of unlisted assets. It comes as research shows super trustees are less satisfied with APRA than their banking and insurance peers.
MA Moelis expands equity research team
MA Moelis Australia has appointed Paul Hissey and Tom Tweedie as executive director and vice president of its equity research team, respectively.
APRA told to increase efforts to identify superannuation risks
The Financial Regulator Assessment Authority has handed down a report into the effectiveness and capability of the Australian Prudential Regulation Authority. It found the prudential regulator plays a key role in ensuring Australia has a safe and stable financial system. But it also made five recommendations for APRA to improve its resolution function. The recommendations … Read more
Future Fund repositions portfolio for ‘stickier inflation’
Australia’s sovereign wealth fund is bullish on private equity and renewable energy, but its CIO office is getting nervous that inflation and volatile markets will make it “extremely difficult” for the fund to meet its stated investment objective. Here’s how it is preparing for the next five to 10 years.
Australian ETF industry breaks $150b barrier
The Australian ETF industry reached $150 billion in funds under management during June 2023, according to analysis of security exchanges ASX and CBOE by Betashares.
Don’t over-estimate trustee demand for financial advice: IFS
While some industry super funds are interested in expanding their advice offering post-QAR, many others are wary about meeting any potential further expectations to give advice and would rather steer clear of it.
ASFA urges closure of retirement savings gender gap
Peak body ASFA is calling for the government to close the gap in retirement savings between women and men.
