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AMP’s George: Superannuation arm in ‘a better position than expected’

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A focus on retaining existing customers has helped AMP to lift assets under management in its superannuation and investments division to $56.4 billion and to report an improved underlying net profit after tax. Chief executive Alexis George says that, while its retail super competitor Insignia has attracted significant private equity investor interest, AMP’s business is “very different” from Insignia’s and “far further down the simplification agenda”.

Former Coalition Treasurer backs Labor majority over hung Parliament

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Former federal Treasurer for successive Coalition governments, Joe Hockey, would rather Labor remain in power than a minority government with independents “governed by self-interest”. In a wide-ranging interview with Investment Magazine, the former Ambassador to the United States also elaborated on the future of global trade in the second Trump era.

Australia poised to be second-largest pension market by 2030

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Australia is tipped to become the second-largest global pension market by 2030 if it maintains its current growth momentum, even as large defined contribution (DC) markets pushed global pension assets to new heights in 2024, according to a new Thinking Ahead Institute study.

Ignore Grattan’s shot across the bow at your peril

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The Grattan Institute’s recent proposals to improve decumulation underscore the urgency for industry to take the lead on designing an improved system, before the government steps in with its own mandate, writes The Conexus Institute. Only an industry-led retirement system that delivers quality retirement products and services, and doesn’t facilitate laggards will suffice.

Retirement advice reform becomes ‘low hanging fruit’ for next government

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The Albanese government is expected to release draft legislation for the contentious second tranche of the Delivering Better Financial Outcomes reforms before the election despite almost no chance of getting the bill through Parliament. Industry consensus was reached at the historic Professional Planner Advice Policy Summit, with leaders and lobby groups now able to present a united front to the next government of either stripe.

New-look CFA Society Australia prepares to host global board

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Last year, Australia’s three CFA Societies united to form one community and one voice. The historic merger has catapulted CFA Society Australia to being one of only 10 CFA Global Financial Centres, elevating Australia’s global standing and influence. On February 19, the merged national entity will host the CFA Institute Board of Governors and hold its Investment Leader Forum.

APRA savages Cbus in court-enforceable undertaking, investigates possible SIS breaches

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The trustee of the $94 billion construction industry super fund Cbus, United Super, is under investigation by the regulator over whether it breached the SIS Act in making payments to the CFMEU, and has entered a court-enforceable undertaking to address behavioural, cultural and organisational issues that have plagued it since at least 2019.

Coalition rules out SG cut to 9 per cent, as Jones labels super an ‘essentially liberal’ idea

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Shadow Minister for Financial Services Luke Howarth has told the Advice Policy Summit theCoalition supports the superannuation guarantee at 12 per cent, and that under a Coalition government “superannuation is here to stay”. But his comments come at a time when new research shows Australians don’t believe either side of politics when it comes to taxing super. And as he departs parliament, Minister for Financial Services and Assistant Treasurer Stephen Jones has claimed a 12 per cent SG is “a damn good thing” and reflected on super as an “essentially liberal’ idea deserving of strong bipartisan support.

CEOs call for different strokes for different funds

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Four CEOs leading four very different super funds have cautioned that a one-size-fits-all regulatory model for delivering advice may not lead to the best member outcomes. Instead, regulation needs to recognise that funds must take different approaches to member needs, as long as the right guardrails are in place.

Three years on, RIC’s intersection of product and advice still evolving

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Delivering information, guidance and advice to super fund members at the scale that’s going to be required is too big a task to be tackled by any one part of the ecosystem on its own. The Advice Policy Summit has heard that it’s going to require connections, co-operation and collaboration between multiple players in superannuation and advice.

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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.

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