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Super fund trustee agrees to landmark deal to remediate Shield clients

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Macquarie will purchase the holdings of Shield clients on its superannuation platform, returning millions of dollars to investors, and will aim to claw back what it can from liquidators but foot the remainder of the compensation bill itself. But whether other trustees will be as proactive as Macquarie remains to be seen, with Equity Trustees seemingly unlikely to budge on its position that it fulfilled its fiduciary duties.

Life in the old dogs: why ditching legacy systems is not always the IT answer

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Legacy IT systems get a bad rap, often being blamed for holding super funds back on efficiency and service delivery. If they’re well-maintained, legacy systems can continue to work for years after their presumed use-by date, but because they’re not shiny and new they often get neglected.

Data, investments and a total portfolio approach

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As a total portfolio approach to managing members’ money gains popularity, some super funds may find their plans to move in this direction thwarted by inadequate or incomplete technology. But those who can build the right foundations will be far better equipped to act – not just react – as the investment world keeps shifting.

NZ Super co-CIOs chart TPA vision, hunt for new alpha sources

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As NZ Super works through growing pains in processes and technology, it has made decisions to change its governance route. Among them is the appointment of co-CIOs – Brad Dunstan and Will Goodwin – who will lead the investment team, with collaborative decision-making and shared accountability. In a wide-ranging interview, Dunstan and Goodwin explain the fund’s “co-delegation” model, how its total portfolio approach will evolve under their leadership, and where it is hunting for new alpha sources.

Trustees had plenty of reasons to decline hosting Shield, First Guardian funds: ASIC

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Being unable to detect fraud is not a sufficient excuse for platforms that hosted the Shield and First Guardian master funds, according to the regulator, who have said there were enough easy-to-detect red flags in the products.

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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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