Hostplus CEO David Elia said that the Labor Party’s return to power in last Saturday’s election is “incredibly positive” for the superannuation sector for the certainty it will provide around preservation. The fund also sees more opportunities to work with the government in energy transition and housing and lauded its plan to make Australia a major critical minerals supplier to the world.
The emphatic return of the Albanese Labor government to power should provide comfort to the superannuation sector, especially profit-to-member funds that had become a key target of the now depleted Dutton opposition. But they would be wise to avoid any complacency over the repudiation of right-wing populist approaches to super.
Labor will return to power with an expanded mandate and presence in the federal Parliament, but there are questions over its commitment to financial advice reform, following the retirement of Stephen Jones.
The departure of Brett Chatfield from Cbus and Damian Graham’s shift from Aware Super CIO to its head of international are clear examples of a renewal and refreshing of investment teams taking place across the Australian industry and across the globe. Some changes are proactive, reflecting changing markets and investment environment; others plug gaps left by resignations or retirements. Either way, renewal is healthy.
Calls for a more flexible superannuation system are emerging as a mainstay of Australia’s populist Right, with minor parties doubling down on the Coalition’s push for super to be opened up to first home buyers. It’s a sign the ‘super wars’ are taking on a Trumpian hue with implications far beyond Saturday’s election.
Improving super fund member services will be underpinned by a firm grip on member data and the effective use of technology to innovate. But innovation can only flourish in organisations where it’s encouraged from the top down, putting the onus on trustee directors and fund executives to understand how technology is being used and the partners the fund is working with.
Generative AI might not yet be perfect but the key to successful implementation is to start today, because waiting for perfection could mean missing out on significant gains. But when AI is paired with thoughtful implementation and human oversight, its potential to solve real-world problems in financial services is improving rapidly.
The recent bout of tariff-induced chaos has reminded funds of the importance of good investment data, and Aware Super is investing heavily into its internal operating platform to make sure its teams have what they need to respond to a more volatile market environment.
The past two years have been a challenging time for private equity investors thanks to low deal activities, falling distributions and tough exit environment. At FIS Singapore, a panel of investors examine how secondaries can help alleviate the asset class stress in portfolios.
As the $100 billion Cbus Super continues its push to 50 per cent internal management, deputy chief investment officer Leigh Gavin says the fund applies the same benchmarks to its internal team as to external managers – and the same pressure to perform.
Jefferson Airplane singer Grace Slick once tried to help a US president to view the world a little differently when she plotted to spike President Richard Nixon’s tea with LSD. Today, scores of clinical trials for psychedelic drugs are underway around the world to help treat depression, trauma, chronic pain, and many other disorders and ailments. And there are opportunities for investors.
The $88 billion profit-to-member fund for health workers is effectively offline as it changes out its administration provider. But a projected six-week limited-service period has members scratching their heads.
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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.
