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
Super funds are taking a step back to review the original purpose of insurance within super, in a bid to recreate a sustainable and relevant offerings for members, says AIA Australia’s newly appointed chief executive Damien Mu. Funds are responding after seeing insurance premiums rise from the third or fourth biggest cost to members, to … Read more
Sunsuper is one of a few industry superannuation funds declaring itself unafraid of a liberalisation of the default awards system. Graham Heilbronn tells BRENDAN SWIFT why he is confident. Sunsuper director Graham Heilbronn doesn’t want to rail against other sectors of the superannuation industry like some of his colleagues. Instead, he’s more than willing – … Read more
Equip is targeting retired ex-members in self-managed super funds (SMSFs) with its new MyPension product and also hopes to offer it on a white-label basis to others. In its first major product launch since MySuper, Equip has focused on meeting the needs of the high proportion of members in its fund who are approaching retirement … Read more
Investors should look beyond the largest hedge fund managers for diversification and lower fees, according to BlackRock Alternative Advisors. In a presentation to investors in Sydney and Melbourne, Mark Woolley, managing director at BlackRock Alternative Advisors, said fees as low as 1.2 per cent in annual management charges and 12 per cent of returns were … Read more
AustralianSuper, Cbus, Hesta, MTAA and Hostplus are conducting a review of their reliance on Superpartners as the sole source of IT for investment administration. The move comes after several years of concern at Superpartners’ overspend on IT projects that have under delivered or not appeared on time. A statement issued by a Cbus spokesperson said: … Read more
The Future Fund has begun a worldwide search for a new chief investment officer who can fit in with its ‘one team, one portfolio’ approach, after it was confirmed that David Neal would become the fund’s managing director. Neal, who has served as CIO since July 2007, has confirmed he is likely to hold the … Read more
Corporate super funds that are unwilling or unable to merge with others are being directly targeted with a newly enlarged trustee service from Equity Trustees, led by John Rodd, former chief financial officer of Equip. ChantWest estimates there to be around 60-70 corporate funds still with their own trustee operations that could be attracted to … Read more
Maritime Super is offering a managed volatility overlay to its growth and balanced options, a process it has described to members as ‘avoid jumping ship’. It has taken the move to prevent the damaging impact of members switching out of equities into cash during periods of market downturn. Milliman has been hired to apply futures … Read more
The chief executives of Unisuper, MTAA Super, Cbus and HOSTPLUS were among those who helped to raise $4.5 million for breast cancer research by participating in the Mother’s Day Classic event last month. However, the biggest single fund raiser was Michelle McLean, managing partner of law firm Cornwall Stodart who raised $55,000. McLean who lost … Read more
The global shift towards collective defined contribution (CDC) has gathered momentum after the UK government announced its intention to remove legal impediments to their set up last week. In March, Unisuper asked the Financial System Inquiry to consider how the best features of pension systems in the Netherlands and Canada could be emulated in Australia, … Read more
Paul Costello has been appointed as a employer representative director of the Qantas Super Board. He will join four other employer nominated directors all of whom are appointed for an indefinite period of time, subject to a formal performance assessment process every year. He joins following General Sir Peter Cosgrove’s departure in January, which led … 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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