The Retirement Income Review is seeking facts from the industry which can be difficult to distinguish from beliefs in a complex retirement system, says David Bell, executive director of the Conexus Institute.
As more superannuation funds invest offshore, billions of dollars of foreign exchange transactions could be exposed to settlement risk.
The corporate watchdog has shored up its position as Australia’s top conduct cop in superannuation, with increased powers to tackle misconduct in a toughening regulatory environment.
The prudential regulator has warned trustees of superannuation funds that flashed red or amber on its controversial MySuper heat maps late last year that they should act now to improve performance and reduce fees.
Assistant Minister for Superannuation Jane Hume has slammed the $2.9 trillion superannuation industry for its “complacency and inertia,” saying poorly-performing funds have “no place to hide” and that small funds should consider merging.
Australia’s $168 billion Future Fund is looking to add more money to its $22.6 billion hedge fund program where it can find managers with spare capacity, to help protect the portfolio against a sell-off in the equity market.
The $31 billion fund has set up a service that prioritises the requests of members who are fighting the fires that continue to burn across Australia or are helping local communities.
Michael Rice has been made an Officer of the Order of Australia in Sunday’s Australia Day honours. He was recognised for his “distinguished service to business and economics, particularly to the actuarial profession, and through advisory roles.”
An increasing number of super funds are looking to invest sustainably across their portfolio but a yawning data gap for private equity and until recently, sovereign bonds, has held them back.
Cbus Super’s high-profile infrastructure specialist Diana Callebaut has jumped ship to take on a similar role with the investment arm of the New South Wales state government.
A Bill presented late last year granting the regulator increased powers to intercept phone calls is waiting on amendments before it goes before the house and senate.
The $65 billion VFMC has appointed former Vanguard executive Keli Saville to run digital and technology and the high-profile Talieh Williams to head up investment stewardship.
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