Sustainability-linked bonds and sustainability linked loans have an image issue: capital need not be directed to specific “green” projects or activities, but instead can be used for any purpose. But even when they are linked to sustainability goals, targets are often unambitious and easily manipulated. It often beggars belief that these investments can credibly sit in “sustainable” investment portfolios.
New research has found menopause can mean an average $40,000 hit to women’s superannuation balance. Sometimes the symptoms associated with menopause and perimenopause are so bad, women are forced to leave the workforce permanently or temporarily. Even if they remain working, the financial effects are seriously impacting women’s later lives.
Almost nine years after the law changed, AustralianSuper still had not updated its business rules to automatically merge multiple member accounts. During that period, more than 90,000 members were overcharged by almost $35 million and missed out on more than $24 million of investment earnings. On Friday the Federal Court imposed a $27 million penalty on the fund.
Insignia Financial chief executive officer Scott Hartley’s ambition is to make the company the most efficient wealth management business in the country to compete against its retail and profit-to-member superannuation competitors. But a vaguely ridiculous situation in its master trust division illustrates the kinds of challenges the business has yet to overcome to improve efficiency and become an effective competitor.
The MoU was signed November 2024 and represents a commitment to set up a super portability scheme between the countries.
A delegation of industry superannuation fund and association leaders will arrive in the US next week to promote Australia as the world’s most reliable source of long-term patient capital. It is part of a collective approach by funds to compete effectively with giant pension funds in north America, Europe, the Middle East and Asia in unlocking global investment opportunities.
UniSuper has partnered with Ignition Advice to create a new digital advice platform which will be rolled out from June this year.
Investment Magazine can reveal that Aware Super’s retirement leader Jacki Ellis has jumped ship to AustralianSuper as its head of retirement. Her move comes as big funds race to lift their game in decumulation to both meet regulatory obligations and to retain members.
The rationale behind the creation of The Conexus Institute is even more pertinent on the think-tank’s fifth birthday, as the conversation around superannuation policy remains hopelessly partisan and contentious. The institute can take some credit for progress on better outcomes for Australian retirees – but there is much more work to do.
Super fund CEOs at the Advice Policy Summit were united on the principles of preservation and compulsion as key parts of a retirement saving system which is considered to be the “envy of the world”. However, Brighter Super CEO Kate Farrar suggested there could be specific circumstances where exceptions to these principles might be justified, and where a contribution rate of 12 per cent might not be appropriate.
CSC has sold 50% of its investment in CDC Data Centres (CDC) to is existing co-investors, including Future Fund, locking in a return of almost 43 per cent a year since inception.
An interim report tabled by a Senate Economics Committee chaired by Coalition Senator for NSW Andrew Bragg addresses the contentious issue of who should foot the bill for fines incurred by superannuation fund trustees – trustees themselves, or fund members. But the report has been labelled as “unserious” by Labor Senator for Victoria Jess Walsh, and its proposals could plunge some trustees into insolvency.
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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.
We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
