The sheer weight of investment by superannuation funds in private markets and growing concerns about opaque valuation methodologies has stirred ASIC into action, with the regulator today outlining its planned work on regulatory settings, with a focus on valuation methodologies, particularly when asset values are under stress.
UniSuper has appointed Alec Cameron, Hazel Bateman and Rebecca McGrath to its board of directors.
Donald Trump’s second term as President of the United States will stress-test the established rules of politics, trade and investment like never before, and will pose far greater challenges to investors than they faced during his first term. The Investment Magazine Chair Forum heard that the boards and management of superannuation funds must be finely attuned to the coming policy shifts and their impacts.
Sustainability-linked bonds and sustainability linked loans have an image issue: capital need not be directed to specific “green” projects or activities, but instead can be used for any purpose. But even when they are linked to sustainability goals, targets are often unambitious and easily manipulated. It often beggars belief that these investments can credibly sit in “sustainable” investment portfolios.
New research has found menopause can mean an average $40,000 hit to women’s superannuation balance. Sometimes the symptoms associated with menopause and perimenopause are so bad, women are forced to leave the workforce permanently or temporarily. Even if they remain working, the financial effects are seriously impacting women’s later lives.
Almost nine years after the law changed, AustralianSuper still had not updated its business rules to automatically merge multiple member accounts. During that period, more than 90,000 members were overcharged by almost $35 million and missed out on more than $24 million of investment earnings. On Friday the Federal Court imposed a $27 million penalty on the fund.
Insignia Financial chief executive officer Scott Hartley’s ambition is to make the company the most efficient wealth management business in the country to compete against its retail and profit-to-member superannuation competitors. But a vaguely ridiculous situation in its master trust division illustrates the kinds of challenges the business has yet to overcome to improve efficiency and become an effective competitor.
The MoU was signed November 2024 and represents a commitment to set up a super portability scheme between the countries.
A delegation of industry superannuation fund and association leaders will arrive in the US next week to promote Australia as the world’s most reliable source of long-term patient capital. It is part of a collective approach by funds to compete effectively with giant pension funds in north America, Europe, the Middle East and Asia in unlocking global investment opportunities.
UniSuper has partnered with Ignition Advice to create a new digital advice platform which will be rolled out from June this year.
Investment Magazine can reveal that Aware Super’s retirement leader Jacki Ellis has jumped ship to AustralianSuper as its head of retirement. Her move comes as big funds race to lift their game in decumulation to both meet regulatory obligations and to retain members.
The rationale behind the creation of The Conexus Institute is even more pertinent on the think-tank’s fifth birthday, as the conversation around superannuation policy remains hopelessly partisan and contentious. The institute can take some credit for progress on better outcomes for Australian retirees – but there is much more work to do.
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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.
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