The appointment of profit-to-member mainstay Robbie Campo to the CEO role at the $100 billion HESTA comes with the fund under increasing pressure relating to its relationship with Grow Inc. and the industry-wide acceleration of outflows to platforms.
More regulation is needed to address consumer harm arising from SMSFs and the Financial Accountability Regime should apply even to platforms that outsource their super trustee in order to close governance gaps, according to Insignia Financial CEO Scott Hartley.
Produced in partnership with Royal London Asset Management. Delays and multiple rounds of consultation on financial advice law reform stretching back more than three years have left the industry disillusioned, and a growing number of super fund members entering retirement in a state of uncertainty and without the full benefits of appropriate guidance, let alone … Read more
Assistant Treasurer and Minister for Financial Services Dr Daniel Mulino writes exclusively for Retirement Magazine that superannuation fund members deserve a dignified retirement, consistent with the objective of super, and it is well past time to move the public conversation from super providing a lump sum to it being the source of ongoing and reliable income.
The $335 billion Future Fund is hoping to find tens of millions in cost savings by consolidating arrangements with external data and tech providers and putting a number of roles under review as it reconsiders resourcing in a volatile investment environment that it “expects to endure”.
As artificial intelligence models become more sophisticated, gaining an edge over the market increasingly requires investors to tap into both human wisdom and information derived from technology. At FIS Singapore, investors from HESTA, Temasek and Pictet unpacked how they are rethinking portfolio construction in the age of AI.
The institutions managing long-term savings might not be built to respond at the speed the world now moves. The gap between knowing and acting – which, ultimately, is where all risk lives – is one they can’t afford to keep open.
Former GESB CEO Ben Palmer has taken up the top job at Affinity Funds Management after 13 years at the Western Australian super fund, joining the ranks of super fund executives who have headed to family offices, charities and asset and wealth managers following careers in the super sector.
A cooling-off period would be applied to inter-fund super fund switches and platform trustees would be on the hook for member losses incurred through fraud or theft under proposals contained in a trio of consultation papers released on Wednesday morning.
More and more super funds are pivoting to the TPA approach, but will need to confront the long-standing issues with accountability that come with it if they want that model to be sustainable into the future.
Some investors are “missing the point” of geopolitical risks by equating them to the disruptions from conflicts and wars, according to GIC chief economist Prakash Kannan, but in reality, geopolitical risk is no longer episodic or peripheral. This means investors need to think harder about inflation and country composition in their portfolio.
The Australian Council of Superannuation Investors, the proxy adviser serving a host of profit-to-member super funds, says it is “critical” the ASX address shortcomings identified in an ASIC review of its governance, capability and risk management frameworks.
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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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