If an applicant for a chief investment officer position is equipped with a temperament suited to leadership, trustees and chief executives should feel comfortable that the person in question need not necessarily be the smartest member of the investment team. This was one of the seeds of information planted in the minds of delegates at CMSF this month by former CIO Jack Gray, now an … Read more
Tom Garcia, chief executive of AIST talked to David Rowley, editor of Investment Magazine about tax, policy, education, campaigning and events. How is tax reform going to impact super? We are going to use the government’s tax white paper to think deeply about what ideas and solutions we can put forward, that delivers greater fairness, adequacy and sustainability. That means we are going to have … Read more
One of the more sensible recommendations from David Murray’s Financial System Inquiry is to enshrine the purpose of superannuation in legislation. Despite our compulsory super system having been around for more than 20 years, there is still no clear consensus on the key objective of super. There is a broad understanding that super is about funding retirement, but to what extent is it meant … Read more
The Superannuation Complaints Tribunal (SCT) is unable to perform key and fundamental functions as it has yet to fill the role of chairperson after the acting-person, Jocelyn Furlan, departed 21 days ago. The Superannuation (Resolution of Complaints) Act 1993 enshrines the role of the chair as a statutory position, conferring extensive powers and functions upon … Read more
At least four major super funds including AustralianSuper, Cbus, HESTA and HOSTPLUS have joined bank ME in launching co-branded banking cards and a mobile bank app. The banking app has been specifically designed to enable data to be aggregated, which will facilitate “data triggered” engagement with members. One of the cards, named Frank, has a … Read more
Joe Hockey’s proposal on housing is politically popular and the industry shouldn’t “kid itself” about this warned Nick Sherry, senior advisor of superannuation and pensions at Citi and former superannuation minister. One of the few asset classes in Australia that has not been commoditised by the funds management industry is residential housing, and if funds … Read more
David Hartley, chief investment officer of Sunsuper, has challenged the industry to publish for members the costs of running their fund alongside the cost of direct fund management fees and an estimate of trading fees. He believes not only do trustees have a fiduciary responsibility to disclose fund costs as a proportion of fees to … Read more
Shortlists for the Conexus Financial Superannuation Awards have been released. The funds recognised as having the best MySuper defaults, the best member engaged services, the best pension funds and those that have created the most far reaching innovation in the past year have all been named in advance of the awards ceremony at the Ivy … Read more
The key players in the merger between AGEST and AustralianSuper revealed some of the secrets of the deal to delegates. AustralianSuper took four years to earn back the $11 million costs of its merger with AGEST it was revealed in a session entitled ‘To Merge or Not To Merge’ at CMSF 2015. The figure was … Read more
The number of global equity teams trading from Australia has risen to nine, in part driven by the growing pool of assets in superannuation. The most recent addition are two funds from Antipodes Partners run by Jacob Mitchell, former deputy chief investment officer of Platinum Asset Management and a portfolio manager of the Platinum International … Read more
Stern of manner, speedy in delivery, Helen Rowell, member at APRA, stopped CMSF delegates from feeling too pleased about themselves, by pointing out areas in which funds must do better. Change management Rowell warned that with much regulatory change ahead from the government reaction to the tax review and the Financial System Inquiry the ability … Read more
Sunsuper’s new data scientist wowed a large audience at CMSF with a case study of how predictive modelling helped successfully allocate staffing to achieve a member campaign to roll over legacy accounts. Kirill Eremenko, a trained mathematician with a background in analysis at Deloitte, told delegates how Sunsuper has conducted five separate targeted member SuperMatch … 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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