Australian superannuation funds achieved the fourth highest growth rate of funds under management worldwide between 2009-2014, according to Towers Watson. Only Chinese, South Korea and Norwegian pension funds achieved higher growth rates when measured in US dollars, while Australia overtakes Norway to move third when assets are measured in local currency. Chinese funds grew an … Read more
Trustees need to be providing a “chain of evidence” over key investment decisions that detail planning, implementation and risk management, according to Craig Roodt, head of investment risk for APRA. Roodt was speaking at the AIST ASI conference on compliance with SPS 530 which requires super funds to have in place a sound investment governance … Read more
To be a long term successful chief investment officer in a major super fund you need to excel in at least three major skill areas: investment management, people leadership not just management, and excellent stakeholder and communications skills. A fourth skill could be managing increasing complexity. Expectations for all these areas have grown as AUM … Read more
Motivated by making a difference and a passion for trustee education, founder of CIE and industry stalwart, Melda Donnelly has joined Conexus Financial as a senior advisor. Donnelly, who has served on various boards for 28 years, sees board governance and decision making as key issues to be improved in the superannuation industry. As the … Read more
Judging by the conversations in the breaks at the AIST ASI conference, these were the three sessions that stimulated delegates the most. Greater information will lead to the end of traditional asset allocation buckets In one of the standout presentations from the conference Jai Jacob, managing director and portfolio manager at Lazard Asset Management … Read more
First State Super will increase the use of multi-asset managers to 10 per cent of its $50 billion fund for reasons of liquidity, low fees and the high prices of alternative assets. In a case study at the AIST’s ASI conference, Dr Zoe McHugh, investment strategist at First State Super, told delegates of the soon … Read more
Mark Tinker, head of Axa Framlington Asia, gave delegates many persuasive reasons why they should not get caught up in the widespread fears of a Chinese meltdown and the impact of that on the global economy. Here is a summary of a paper he provided to delegates, in which he referred to the doubters as … Read more
AustralianSuper has achieved costs of only 9 basis points on its internally run domestic equities portfolio, two years after it first launched. In a presentation on internal management at AIST ASI on the Gold Coast, Peter Curtis, head of investment operations at the $90 billion fund, told how this figure would decrease once the global … Read more
Remuneration of CEOs in the ASX200, based on the estimates from the end of year financial reports, is underreported by millions of dollars. Australia’s 10 highest-paid chief executives collectively reaped $70 million more than reported in their companies’ FY14 annual reports, according to new research from the Australian Council of Superannuation Investors (ACSI). ACSI’s annual … Read more
The Future Fund has its highest cash weighting since the first years of its existence, but claims it is not highly defensive as the allocation has been made to offset the risk in other areas as part of its one-portfolio strategy. David Neal, chief executive of the Future Fund, said the increase in the cash … Read more
The Government’s abolition of the Low Income Super Contribution (LISC) is the single most retrograde and regrettable policy decision since the establishment of superannuation and will help cement the gender gap in savings if reforms to tax concessions do not occur, the Shadow Treasurer Chris Bowen said. The LISC was setup by the previous Labor … Read more
Funding the supply of housing stock to improve affordability for members who risk never being able to buy property is being weighed up by super funds such as Cbus. The proposal has been prompted by state governments contacting super funds about their interest in investing in social housing. David Atkin, chief executive of Cbus, said … 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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