The boss of the near-$100 billion health industry fund has issued an apology to members negatively impacted by a seven week limited service period earlier this year while saying that the administration transition that required it will set the fund up for success in the future.
More super fund members than ever now know they have insurance in super, but their understanding of what it covers and how to claim remains lacking. The Insurance in Super Summit has heard that developing systems to help members through the claims process is the next step in engagement.
Cbus CEO Kristian Fok has issued a mea culpa to members affected by claims handling delays and said that the fund and its administrator have worked hard to improve service and upgrade its technology since. Meanwhile, deputy CEO Marianne Walker is set to depart the fund.
Mark McGowan, Western Australia’s historically popular former premier, says that super funds need to pay more attention to politics and build connections on both sides of the aisle to succeed.
Complaints about super fund service are trending downwards but consumer advocates fear that misconduct might rise if regulators turn their attention away from the sector. APRA and ASIC want funds to know that’s not going to happen.
CC Capital will pay $4.80 per share to acquire all of Insignia Financial, ending a bidding war that emerged just over half a year ago. In his first public comments about the acquisition since the first bid was announced last December, CEO Scott Hartley tells Investment Magazine that private ownership will make executing their corporate restructure and vision a simpler process.
The Labor government is pressing ahead with plans to introduce standardised sustainability labels for investment products in superannuation and managed funds in a bid to support consumer decisions and curb potential greenwashing. The public consultation marks Daniel Mulino’s first policy move as the financial services minister despite the industry’s hope that DBFO reform would take precedence.
Strong investment performance for the year ended 30 June 2025 is in keeping with three decades of performance by super funds during which negative 12-month returns have happened only five times. But the factors that drive short-term performance are not the same as those that drive long-term returns, and chief investment officers tell Investment Magazine it’s important to remember the difference.
Sovereign wealth funds are rushing back to active equity management as they try to negate the risks arising from index concentration, geopolitical fragmentation and macro and political volatility.
Super Consumers Australia has called on the federal government to fully review the implementation of insurance in super after Australian Retirement Trust only agreed to pay a member’s mental health claim when the consumer advocacy body took an interest in the case. The call comes ahead of CEO Xavier O’Halloran’s appearance at the Investment Magazine Insurance In Super Summit next week.
MLC Super is launching a new retirement income product through its advised channel before it’s made available to master trust members in a sign of the growing importance of advisers to both retirement and member retention.
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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.
