Sunsuper is expanding its investment team to help it take greater advantage of investment opportunities. The fund, which runs $28 billion in assets, is increasingly using its size to negotiate exclusive partnership deals with fund managers to purchase property, loans, infrastructure and private companies. Currently around 29 per cent of the fund is invested in … Read more
The most significant suite of changes to privacy law in over twenty years take effect on 12 March 2014. In order to comply trustees must have a privacy complaints process and a new type of privacy policy. Most importantly they must control how the personal information they collect is stored, accessed and used, or risk … Read more
The culture of performance and fee comparison that the MySuper product dashboard will bring about in the coming years, poses a grand opportunity for funds to advertise their relative successes. The Australian Securities and Investment Commission is closely watching for any misleading product comparisons, it would prefer if funds did not emphasise short term performance … Read more
The cost of Stronger Super compliance and product development has led Media Super to cut the role of chief investment officer. Jon Glass left the fund on Monday and the responsibility for the $3.8 billion investment portfolio will be assumed by chief executive Graeme Russell, who in his time at First Super also acted as … Read more
Sunsuper has increased the size of its investment team to 18 with the appointment of Lounarda David to the newly created role of investment operations manager. She joins from Mercer and will be responsible for reviewing the $26 billion fund’s risk management, performance reporting, unit pricing, custody operations, document management, legal and tax. David Hartley, … Read more
In QSuper’s bid to create mass personalisation of retirement outcomes it has created 36 different types of communication for members. Speaking at the Post Retirement Conference in Sydney, Michael Pennisi, chief strategy officer at QSuper, revealed how an attitudinal survey, along with age and gender had helped create the profiles. “With each of those profiles … Read more
John Brogden has asked politicians to think the unthinkable on post-retirement reform. Speaking at the annual Post Retirement Conference in Sydney, the chief executive officer of the Financial Services Council called for a rise in the preservation age to “at least” 62, a convergence of pension age and preservation age, restrictions in the ease with … Read more
Energy Super is offering to give self-managed super fund advice to members it sees at most risk of leaving to manage their own investments. Ben Moles, manager of member and employer services at the fund, told delegates of the Post Retirement conference in Sydney, if the fund was involved in the process of members leaving … Read more
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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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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