The government is to enshrine the objective of superannuation in legislation. What would that wording look like? TOM GARCIA, chief executive of the AIST, has a suggestion. Imagine if an ASX-listed company was asked by its shareholders “What is your purpose?” and the response was “We are not sure”? Do you think the stock might … Read more
Stephen Dunne, the former chief executive of AMP Capital, is to become chair of the investment committee for the $31 billion construction workers industry fund Cbus. Dunne, who oversaw the development of AMP Capital to become a $156 billion funds management operation, will bring the expertise and know-how to help nurture the increasingly ambitious ideas … Read more
With its 10th birthday approaching, the Future Fund is entering its next incarnation complete with a new investment team structure. Investment Magazine spoke to Raphael Arndt, Stephen Gilmore and David Neal. When David Neal, the inaugural chief investment officer of the Future Fund, became its managing director on August 4 last year, his previous role was split … Read more
Dick Shearman, chair of NGS Super talks to Investment Magazine about investment governance, some niche impact investments – and how the fund is progressing without a chief investment officer. In 2013 the Australian Prudential Regulatory Authority (APRA) warned that trustees would no longer be able to excuse any unsuccessful investment decision by stating their consultant had advised them to do it. This … Read more
The long-term equity risk premium (ERP) has a much higher degree of volatility than established thinking holds to be true, according to new research by Drew, Walk & Co. It claims while the average ERP in Australia is around 6 per cent (though it has been below its long-term average since 1990) the wide distribution … Read more
Funds SA chair, Dr Helen Nugent, will step down from her position on December 8, 2015. Nugent has served 15 years as chair of Funds SA. During this period, funds under management have increased five-fold with current funds now at over $26 billion. The super fund said investment returns have been a significant contributor to this … Read more
The Australian Institute of Superannuation Trustees (AIST) has used its annual awards to highlight the strides many not-for-profit super funds are taking in the use of targeted marketing, social media and in increasing women’s super balances. At last night’s 2015 Awards for Excellence, both funds and individuals were recognised. Equip was a double winner at … Read more
The biggest disruption to superannuation and its associated industries comes not from innovative technology companies, but from the government, according to JANA. Speaking at the Investment Management Consultants Association (IMCA) annual conference, John Coombe, executive director of JANA, said it doesn’t matter how it is looked at, the superannuation industry only exists because it was … Read more
First State Super is rolling out a venture capital strategy to increase the likelihood that it will be an early investor in technological solutions which could disrupt businesses, including superannuation. The $52 billion super fund has already invested $110 million in Blackbird Ventures (a venture capital firm established in 2012 to nurture the development of … Read more
The deadline for entries for the Conexus Financial Superannuation Awards 2016 has been extended to November 27. The awards celebrate excellence in the Australian superannuation industry and aim to encourage all funds, their staff and suppliers to strive towards the best possible outcomes for members, in all aspects of their activities. Nominations are open for … Read more
Greg Fernance will step down from his role as head of investment and capital management at the $1.4 billion University of Sydney investment portfolio. Fernance, who has held the role for 12 years, is looking to stay in the endowment investment space either at an operational level or a trustee level. A replacement is expected … Read more
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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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