Claims that super balances of $1 million or more were needed for a comfortable retirement are causing unnecessary fear and concern among many older Australians, AIST and AustralianSuper have said. An AIST and Vilder Policy and Research (VPR) paper, entitled ‘Busting the $1 million retirement myth’, has been published to “debunk the myth that $ … Read more
BlackRock has identified finance companies as the strongest sector bet in a global equities market artificially inflated by quantitative easing. Ewan Cameron Watt, chief investment strategist of the BlackRock Investment Institute, who met with investors in Australia over the past few days, has flagged the impending rise in US interest rates as boosting profit margins, … Read more
Stephen Knight, chief executive of TCorp, has announced his resignation and will look to step down from his role within the next three months. The move comes two months after Knight completed the merger of the investment teams and operations for the State Super, Safety, Return to Work and Support and TCorp funds to create … Read more
In the first of a series of how to guides for super funds Alastair Adamson, consultant at Rice Warner, walks through the steps they need to take to ensure the lowest possible premiums when renegotiating their group insurance package. Over the last couple of years wholesale premiums have sky rocketed, and will continue to do … Read more
The creation of a single large Tasmanian superannuation fund is a step closer after the state treasurer Peter Gutwein announced he favoured a partial merger of RBF with Tasplan and Quadrant. The proposal still needs the support of all parties in the Tasmanian parliament and needs to overcome legal hurdles that show it will not … Read more
AON Master Trust has appointed its chief investment officer, Janice Sengupta, as its new head. Sengupta will continue in her role as chief investment officer while taking on the additional duties, as part of the fund’s strategy to be nimble and lean. “We are excited to have Janice spearhead the Aon Master Trust team, a … Read more
Equip’s MyPension product was designed specifically to reduce risks – including behavioural biases – for the vast majority of its members who would never see a financial planner, delegates heard at an Investment Management Consultants Association seminar. As Australians generally have very little financial literacy it was important to design a product that could be clearly communicated … Read more
A world-leading professor of finance has argued that hedge funds have retained a positive value proposition in the wake of the GFC. Professor Stephen Brown of NYU Stern School of Business also told attendees at a Centre for International Finance and Regulation seminar in Sydney this morning that operational due diligence can add 250bps per … Read more
The China Investment Corporation (CIC) has taken advantage of the low Australian dollar to purchase nine office towers in Melbourne and Sydney for $2.45 billion, making it reportedly the biggest direct real estate transaction in Australia’s history. A second announcement that has received less media scrutiny is the NSW government advertising campaign on how Sydney’s infrastructure … Read more
I have followed with great interest the debate that has been taking place in your magazine over recent weeks about the classification of “growth” and “defensive” assets for superannuation funds. This is an important topic, and the current discussion and debate is timely. The primary purpose of superannuation is to provide retirement income. By its … Read more
Two thirds of older workers are satisfied they have sufficient funds put aside to retire, a significant increase from 2012 where satisfaction levels with retirement savings were below 50 per cent, according to the Financial Services Council (FSC) – Commonwealth Bank of Australia’s (CBA) Older Workers Report 2015. The report also found close to three … 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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