Some funds are “throwing money out of the window” on alternative assets, by not working out clear objectives for their allocations, according to a senior strategist at QIC. Speaking at the Conexus Fiduciary Investors’ Symposium on the Mornington Peninsula, Tony McKenzie, chief strategist for global multi-asset, told of a widening gulf between funds with highly … Read more
Vision Super has stated a desire for a “transformational leader” in the appointment of the general manager of Super SA as its new chief executive. Stephen Rowe, who joins in January, will take over from Peter Rowe who has acted as interim chief executive of the $7bn fund since August 2012. Rowe was chief executive … Read more
The timing of Kevin O’Sullivan’s appointment is auspicious. A technocrat, an actuary and a maintainer of outsourced schemes at Russell Investments, he has arrived after most of the work around Stronger Super had been put in place at UniSuper. Well placed to do the assessments around product development, he would appear to be chosen for … Read more
Cbus has been commended for its bold move to disclose board salaries in the Australian Institute of Superannuation Trustees’ 2013 awards for excellence. The fund won the award for best annual report, the judges describing the information provided to members as reporting and acting with integrity. The report highlights the $111,000 salary given to board … Read more
A group of 30 superannuation funds have received a net promoter score of +5 from members, in an annual survey from the Fund Executives Association (FEAL), together with academics and a consumer research organisation. The net promoter score (NPS) is derived from survey responses to the question “how likely are you to recommend”, and is … Read more
There are many reasons to applaud the discussion paper issued by Treasury on better governance and transparency in superannuation, but its ownership by someone without an in-depth knowledge of retirement planning is worrying. That Arthur Sinodinos, the minister for financial services and assistant treasurer, also has a background in banking and thus a clear bias … Read more
The $27 billion industry superannuation fund REST will push the button and go live with its internal, actively-managed Australian equities strategy in December, expanding on its established funds management capabilities in infrastructure, fixed income and cash. REST, which has been internally managing money for over 16 years, has been running a paper Australian equities portfolio … Read more
The pace of increase in internal investment teams at superannuation funds is increasing, according to an Investment Magazine survey. Feedback from 19 chief investment officers at some of the largest super funds found that 40 per cent are planning on adding internal capacity over the next three years. A year ago the same survey found … Read more
In a bid to protect members’ data and money from hackers, First Super is considering the practicality of completely isolating its member database from the internet. Under its plan, no terminal that can access the master database will be connected or connectible to the internet. This might seem far fetched and some in the industry … Read more
Industry superannuation fund members have gained the ability to appoint a financial adviser to manage their superannuation and invest on their behalf, using the UBS Direct to Member platform. In a move that sees the industry and corporate super funds more closely replicate the benefits and features of a self-managed superannuation fund, members can appoint … Read more
Jana Advisers has seen three quarter of its recommended active equity managers outperform against their benchmarks over the past year. Steven Carew, head of research at the firm, says the success rate of 75-80 per cent is attributable to near ideal conditions for stock pickers. “The dispersion between and within markets is quite wide so … Read more
Funds should start preparing for a steady growth in member activism over investments before portfolio disclosure requirements come into force on July 2014, says Danielle Press, chief executive of EquipSuper. While the numbers of members targeting funds is low, the impact could be greater owing to the way replies to questions are being posted online. … 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.
