The imposition of independent trustees could be the trigger for some corporate superannuation funds to close. Bruce McBain, chief executive of the Corporate Superannuation Association, has written to Treasury urging them not to impose a quota of independent trustees onto boards of his member funds. The association believes the extra costs of employing independents could … Read more
Higher data disclosure should be seen as an opportunity for funds to compete, rather than a burden, according to software firm DST Global Solutions. The firm has been assisting super funds with Strong Super data compliance over the past year, but is now increasingly helping create online access for daily updates on member’s account balances. … Read more
A quarter of the $15 billion in assets held by the HOSTPLUS superannuation fund is held in unlisted property and unlisted infrastructure, and it is keeping a keen eye out for more. While others might hold back on the temptation to buy a share in an airport or an office block, due to cash-flow fears, … Read more
AUSCOAL Super has joined the growing number of funds adopting a dynamic active currency management program. State Street Global Advisors is to manage a dynamic currency hedging strategy for AUSCOAL Super’s $1.6 billion international equities portfolio, after it ran a passive overlay for the fund for the past seven years. Michael Berry, senior portfolio manager … Read more
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Chant West, in partnership with Conexus Financial, publisher of Investment Magazine, will present the second annual superannuation and pension awards on May 21, at the Ivy Ballroom in Sydney. Both companies have a common vision of improving retirement income solutions and producing better outcomes for members and in the process calling industry participants to account … Read more
Case studies in innovation are being offered at the Fund Executives Association Ltd (FEAL) forum at the Park Hyatt, Melbourne next Thursday, March 6. The annual forum, which focuses on the themes of innovation and product development, will feature an interview with Peeyush Gupta, chair of State Super Financial Services on how his fund has … Read more
The advent of MySuper has led to a convergence in fees between non-profit funds and actively managed retail funds. Chant West’s Super Fund Fee Survey shows fees for non-profit funds increasing from 97 to 101 basis points on average, while fees for actively managed retail funds have fallen from 146 to 132 basis points. The … Read more
Providers of post-retirement products are seeing soaring growth in assets under management as the number of baby boomers entering retirement grows. Challenger saw a 38 per cent growth in fixed term and lifetime annuities for the six months to the end of December 2013. Colonial First State, the leading provider of allocated pensions, has seen … Read more
AustralianSuper is to renegotiate its group insurance on an annual basis, a move leading figures in the sector believe will become the norm for other superannuation funds. The appetite for writing new group insurance business has shrunk after one of the three big reinsurers, RGA, stopped pricing any new TPD business, while Swiss Re is … Read more
Unisuper has added an IT specialist to its leadership team in recognition of the important role it plays in the creation of new products and the delivery of Stronger Super compliance. The move is an initiative of new chief executive officer Kevin O’Sullivan who wants more energy put into product development following several years focusing … Read more
“The Actuaries Institute would like to see retiring Australians have increased choice in relation to the retirement income products they are offered and considers the removal of current impediments to product innovation as an essential element of such a review, as well as ensuring that appropriate safeguards are in place to protect consumers and safeguard … Read more
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