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‘Costs and benefits’: APRA open to YFYS changes and more fund innovation

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The superannuation industry prudential regulator says reforms to the Your Future Your Super performance test should be made if the downsides of the test no longer outweigh the benefits to members. APRA chair John Lonsdale said the regulator aims to strike a balance between financial system stability and allowing the entities it regulates freedom to innovate, and that it is nearing the end of its inaugural system stress-testing program.

Herding, currency emerge as ‘systemic risk’ to super investors

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An Investment Magazine roundtable of senior super sector executives, in partnership with Northern Trust, has heard that the herding and peer ranking mentalities exacerbated by the Your Future Your Super performance test pose a risk to the long-term fiduciary thinking of investment teams. The conversation was informed by research on the systemic impact of ‘big super’ from The Conexus Institute and warnings from agencies including the Reserve Bank of Australia and International Monetary Fund.

ASIC, APRA reject ‘computer says no’ compliance culture

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APRA deputy chair Margaret Cole has praised super funds for experimenting with digital advice offerings ahead of the DBFO reforms, while ASIC Commissioner Simone Constant has urged industry leaders to push back against overbearing internal compliance officers. The comments reflect a change in tune from both agencies, which even extends to a possible ‘regulatory sandbox’ to promote innovation in financial services.

UniSuper’s Chun: Avoiding complacency in good times as critical as managing crises

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Leading an organisation when things are good is one thing; leading it when the entire organisation is under stress and scrutiny is something else. UniSuper chief executive officer Peter Chun, who has been named the 2025 FEAL Fund Executive of the Year, has experienced both scenarios since joining the fund and says good leadership demands adaptability.

Mental health an overlooked productivity-killer

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We are currently in the midst of an important national conversation about productivity and the inhibitors to growth ahead of the government’s Economic Reform Roundtable next week. The Prime Minister and Treasurer deserve much credit for putting the spotlight on ideas to propel Australia into a new era of prosperity so early in their new … Read more

How spotting pigeons on the runway helped an AI revolution at UniSuper

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UniSuper has developed an AI-enabled system for reviewing the currency and compliance of more than 113,000 digital assets in a matter of seconds, inspired by a presentation at an AI conference about airport safety in Singapore. But the $190 billion fund’s head of digital and customer experience, Brendan Donoghue, says despite the immense potential of AI within funds, they should never let technology define the process, or the customer experience.

Mulino mulls additional guardrails for super threats

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Minister for Financial Services Daniel Mulino says failures like Shield and First Guardian show the importance of regulatory guardrails and anticipates more concerning business models will emerge, even as he re-iterated full support for cutting red tape in financial advice.

Leveraging data and behavioural science to deepen member engagement

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Behavioural science is a powerful tool in improving the engagement of communication and supporting members to act and make better decisions. The benefits to funds are clear: engaged members are more likely to stay with their fund, and to recommend it to others, as well as being better off in the long-run and better prepared to deal with what life throws at them.

‘Misallocation and index hugging’: Minister confirms YFYS test examination

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Minister for Financial Services Daniel Mulino has confirmed that The Your Future Your Super performance test will be subject to further scrutiny and possibly changes as the Albanese government looks for new ways to boost economic productivity. The comments come as ASIC also announces a review into aspects of RG97.

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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.

We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.

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