The roles of super funds in retirement strategies was thrown into the spotlight with the Retirement Income Covenant recently passed into law. ANU associate professor, Geoff Warren, examines whether these roles should be as fiduciaries, product providers, or both.
Most industry funds are now considering their position on the need to levy members to build up reserves to cover any fines incurred by trustees in the light of recent legal amendments. Glenda Korporaal explains the impact of the changes and how funds are responding.
Controversial regulations on proxy advisers, seen in some circles as targeting the industry superannuation fund-backed Australian Council of Superannuation Investors (ACSI), have been rejected by the Senate. The regulations had officially come into force only three days earlier. The necessary approval by the Senate on Thursday was thwarted by a move to have the regulation … Read more
It’s inevitable industry fund members will end up paying for changes to trust deeds that enable a right to remuneration designed to protect trustees against fines incurred for breaches of Commonwealth law. But the key is transparency, according to Dr Scott Donald, associate professor at UNSW.
The $450 monthly threshold to be earned by workers before employers contributed to their super has been removed by Parliament at the same time as it passed legislation to embed the Retirement Income Covenant into law.
HESTA CEO Debby Blakey sees engaging members, educating them about their super and providing support for long-term financial planning as being front-of-mind issues, writes John Durie.
The thinking and process behind the recent acquisition of GeelongPort by Spirit Super provides an insight into the mindset and investment strategies of mid-sized super funds reports Mal Chenu.
The milestone of reaching $200 billion, with no additional capital since starting with $60.5 billion, would not change the Future Funds outlook which would “remain robust with a neutral setting to a range of scenarios”, according to CIO Sue Brake.
Regulations requiring proxy advisers to get a new Australian financial services licence and for them to provide same-day reports to the companies they are commenting on come into effect on February 7. Some see it as part of an agenda by the Morrison government to curb the potential influence of the industry fund sector on the boardrooms of corporate Australia, Glenda Korporaal reports.
Sports origins fire his belief in mentoring for executives, the former QIC and AMP Capital executive, Brian Delaney, says.
Super funds know what to expect in 2022 with regard to regulation but the investment market offers green shoots “there for the taking” despite still being uncertain. David Bryant, Mercer president, Pacific region & CEO, Australia, gives his take on the top five investment priorities for funds for this year.
Chiefs of some of the country’s largest institutional investors have sought clarity on any new regulations for financial advisers from lawmakers ahead of a likely May Federal election, while superannuation and financial services minister Jane Hume is also keen to “remove the grit from the wheels of the merger process” for smaller super funds.
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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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