The Australian Securities and Investment Commission is urging superannuation funds to draft their own set of fee transparency guidelines ahead of its own updated guidance issued today. The regulator is targeting non-disclosure relating to investment in underlying investment vehicles, incorrectly disclosing fees net of tax and inconsistent disclosure of performance fees. Such inconsistencies have left … Read more
Executives in financial services and superannuation funds are “chronically stressed” and internal teams are showing wear and tear according to Kamal Sarma, a consultant and personal coach. “We’re seeing people struggle to keep up with level of intensity required of them. A lot of people are overwhelmed by it,” said Sarma, who provides coaching seminars … Read more
The group insurance market in Australia is under the spotlight. We are seeing a period of rising claims and premiums, increased regulatory requirements and heightened solicitor involvement. Recent media reports have questioned the sustainability of the current group insurance market in Australia. The word sustainability is something that gets talked about a lot. In fact, … Read more
Scott Hartley has pledged lower fees for Sunsuper members in a bullish statement on the fund’s ability to become top choice for corporate clients. In his first public utterances since becoming chief executive, Hartley’s pledge is in stark contrast to most other funds, who have held out little prospect of fee cuts in the face … Read more
With all its industrial might, should China be labelled an emerging economy? The second largest economy in the world is transitioning from one best known for its cheap clothes, plastic goods and household electronics to one that is helping developed and less-developed nations alike to build infrastructure. The bullet trains that took members of the … Read more
Pressure on the coalition government to reverse its decision to scrap the low income superannuation contribution (LISC) is growing from two campaigns to preserve the annual award to those earning under $37,000 a year. Women in Super through its website www.keepsuperfair.com.au has helped 13,000 people send messages of protest to their senators. This campaign estimates … Read more
A return to the stagflation that impacted many developed world economies in the 1970s is a growing fear of Dr Susan Gosling, head of investments at MLC. The 1970s were marked by commodity price spikes, a high US Dollar, bond yields climbing, high unemployment and equities flat lining, as the Dow Jones realised just 5 … Read more
Two of the most experienced analysts in the Australian equities market have warned of some of the most challenging conditions for 20 years. Martin Conlon, head of Australian equities at Schroders, who was speaking at the Frontier Advisors’ annual conference in Melbourne, sees a confluence of negative factors. These include the increasing dominance of financial … Read more
A little understood legal principle could turn your next outsourcing exercise into an expensive headache, says David Galloway, in house lawyer for a leading super fund. By sending out a request for submission or tender document the issuer will almost always create a side contract called a process contract, exposing it to legal action if … Read more
The NZ$25.5 billion NZSuper (AUS$23.6 billion) is intended to reduce the tax burden on future taxpayers to fund New Zealand Superannuation, the retirement benefit paid to eligible citizens by the Federal Government. The government is not scheduled to make withdrawals from it until 2029-30 and the fund will peak about the same time today’s four … Read more
The superannuation system is “condemned to fail” if it isn’t overhauled and made consistent with the aged pension by providing lifetime benefits rather than lump sums, warns a new Deloitte report. The Federal Government and the industry should be tasked with moving super to an annuitised and more flexible system or leave Australians woefully underfunded … Read more
Investors are going to find it harder and harder to place large sums of money with recommended Australian equity and small cap managers, according to Frontier Advisors. Many of the firm’s favoured managers are closed to new clients due to capacity constraints with their strategies, with some also closed to new cash-flows from existing clients. … 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.
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.
