Super funds may soon have to display industry average fund performance and fees on their MySuper product dashboards. Speaking at the AIST ASI conference in Alice Springs, Alex Purvis, senior manager for superannuation at ASIC, revealed consumer testing of the proposal had proved popular and that the Treasury would now decide on whether to require … Read more
QSuper used two sessions at the AIST ASI conference to explain its shift away from peer-benchmark investing, following its move to cohort strategies earlier this year. Greg Hall, portfolio manager at QSuper, spoke of how messages of future projected adequacy of income in retirement from the fund outweighed any other information members received. Research of … Read more
An alternative set of proposals for reducing costs and boosting competition to those in the Grattan Institute Super Sting report, were presented by Ken Marshman, chair of REST Super at the AIST ASI conference in Alice Springs. In a stirring and strident presentation which avoided an outright confrontation with Jim Minifie, the author of Super … Read more
A combined $4 billion Tasplan and Quadrant Super is to reassess all global equity managers on their willingness to screen out tobacco stocks. The two funds are in the closing stages of a due diligence process to begin a merger. Due to their relatively small scale, both invest in pooled funds which makes it harder … Read more
Talk of an economic crisis has dominated the front pages of newspapers ever since Joe Hockey delivered his budget speech on May 13. Many investors are exasperated at the impact this is having on markets, particularly as many view the Australian economy as healthy by global standards. Political commentators have called on the Coalition to … Read more
David Atkin, chief executive of Cbus has declared the growth in members of industry funds leaving for self-managed super funds at an end. The announcement comes the same day the scheme launches a member direct platform to cater for large account holders who want to manage their own investments. “Members moving to SMSF is an … Read more
John Pearce, chief investment officer of Unisuper, has a side bet with a member of his investment team that the Australian equity market is going to outperform the US equity market over the next year. When most people are talking about the end of the Australian boom, uncompetitive labour costs, an expensive currency and a … Read more
Anne-Marie Corboy is to leave HESTA at the end of February 2015 after serving 16 years as chief executive of the $29 billion fund. Corboy, who also sits on the boards of the Utilities Trust of Australia and Netball Australia, is now seeking to develop a portfolio of non-executive directorships, but is not ruling out … Read more
“It is clear…. that the banking system is considerably less competitive than the superannuation system, is systemically more risky and extracts a greater cost from the overall economy.” This extract from a submission sent by Greg Cooper, managing director of Schroder Investment Management Australia to the Financial System Inquiry, is perhaps the most damning put-down … Read more
There is a global pension underfunding crisis and yet Australians are set to lose $128 billion in savings because the Federal Government has tied up superannuation policy with the repeal of the mining tax. Superannuation policy should not be part of the political system and it’s time the industry did something about it. The Financial … Read more
The heads of investment operations at QSuper and Sunsuper, plus representatives from NAB Asset Servicing and senior consultants from Deloitte and Dymond Foulds & Vaughan met in July to answer the most common questions on securities lending. What is the additional workload created by an extensive securities lending program? The prognosis of both the head … Read more
CareSuper has announced Greg Nolan is to stand down from his role as general manager of investments at the end of the year. He will stay at the $8 billion fund in a part-time role on specific investment projects and the recruitment process for his replacement will commence shortly. Julie Lander, chief executive of CareSuper, … 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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