CareSuper continues to merge after Spirit Super tie-up
CareSuper and The Meat Industry Employees’ Superannuation Fund (MIESF) have entered into a Heads of Agreement to explore a member transfer into CareSuper.
UK unveils ‘Australian-style mega-funds’ ambition for pension system
The UK Chancellor of the Exchequer Rachel Reeves has pledged to turn the nation’s pension providers into Australian- and Canadian-style “mega-funds”, by supercharging consolidation with measures such as imposing minimum size requirements on defined contribution funds. But while there has been a positive link between scale and investment performance in the Australian market, mega funds have their woes and the UK may want to heed the cautionary tale.
Airlines keep flying through climate turbulence
Earlier this year a Dutch court found past advertisements by KLM Royal Dutch Airlines misled consumers and “falsely create the impression that flying with KLM is sustainable”. Marketing around the world regarding the sustainability of the aviation industry does seem increasingly at odds with reality.
Morningstar appoints director of manager research ratings for Australasia
Morningstar Australasia has hired Eva Cook as director of manager research ratings and new asset class lead in equities for Australia and New Zealand.
REST chief member officer resigns
REST chief member officer Deborah Potts has resigned from the super fund after a 9-year career with the fund.
Fok treads carefully in first major public test as Cbus CEO
In his first major public appearance since the start of the media and regulatory storm engulfing Cbus, chief executive Kristian Fok has strategically defended the fund’s much-scrutinised relationship with the construction union CFMEU, arguing that there has been “incredible value” working with the union, but remained tight-lipped on the nature of any future engagement. He also apologised to members about insurance claims delays, but blamed external administrator MUFG Pension & Market Services for having the bulk of the problems.
The art of politics and getting out at the top
At the peak of his popularity former WA premier Mark McGowan enjoyed approval ratings upwards of 90 per cent. When he quit politics last year it was a surprise to many, but it capped a 26-year political career and serves as an object lesson in how to quit at the top.
TCorp acquires interest in maritime operator Cyan Renewables
TCorp, the investment manager of NSW public sector, has acquired an interest in international maritime operator, Cyan Renewables.
Cbus woes mount as it faces ASIC in court over insurance
Troubled industry fund Cbus is being sued by ASIC for repeated failure to handle death benefits and TPD insurance claims which has caused an estimated $20 million loss to claimants. It’s sparked calls from consumer groups and the opposition for the government to ramp up oversight of the sector.
Why it’s difficult for members to have it all in decumulation
Super funds have a relatively simple problem in accumulation. Everything about investing during this phase has a two-fold goal: generating the best possible returns, and amassing as much savings as possible for members. But fiduciary investors could be negotiating as many as five dimensions of members’ needs in decumulation, and it’s difficult to meet all of them.
Rate adjustments rejuvenate investor interests in real estate
Investors are heading back into real estate as adjustments in interest rates start to come through. More asset owners are on the lookout for opportunistic investments in commercial property, but fewer have conviction in residential buildings due to perceived government policy instability and lack of return record.
Diversity of models the industry’s great strength
A range of investment operating models exist within the superannuation industry. The Fiduciary Investors Symposium heard that this may prove to be one of the industry’s great strengths, as long as the boards and management are sure that the model they operate under best suits their views of the world and how they want to serve members.
