NGS Super has invested $500,000 in a social benefit bond run by Social Ventures Australia and is planning to launch a broader, more diversified ethical option for its members by early 2014. NGS chief executive Anthony Rodwell-Ball said the new bond ticked all the boxes from an investment perspective, and he believes there’s a reasonable … Read more
Sunsuper will launch its MySuper product on October 5, introducing a lifecycle derisking strategy for the 55-to-65-year-old age bracket. The product was designed based on feedback from its members, who said that they wanted their investment risk wound slowly down as they approach retirement. Andrew Nicholson, general manager of product at Sunsuper, said: “We tested … Read more
The charter group for the Labor government’s proposed council of superannuation custodians has begun public and private consultation with the superannuation industry, with Jeremy Cooper at the helm as chair. Cooper said the primary task for the group, appointed in May by Minister Bill Shorten, is to deliver a coherent report on the role of … Read more
Pension funds or any investor holding a slug of long-term fixed income needs to factor in some capital losses soon, says Princeton academic and former vice president of the Federal Reserve, Alan Blinder. “The timing is difficult to predict, but three or 15 months, it doesn’t matter. It is predictable,” he says. “The unpredictable part … Read more
Gary Clifford is taking time out from a road trip when he takes Investment Magazine’s call. Surrounded by karri trees as tall as 90 metres in the Valley of the Giants near Walpole in Western Australia, he’s a man who favours raw simplicity. Clifford sits on the board of the Fire and Emergency Services Super … Read more
The Australian Prudential Regulation Authority (APRA) has provided its much-awaited clarification on the reporting requirements for regulated superannuation entities (RSE). While it reduces some of the burden of earlier drafts, the reporting requirements are still very significant and present some serious challenges to funds, their administrators and custodians. However, in many respects, some of the … Read more
Lochiel Crafter, Asia Pacific head of State Street Global Advisors, interviewed the chief investment officer of Sunsuper, David Hartley, about super funds bringing investment management in house. The discussion focused on key drivers as well as what funds need to consider before making the move – and why Sunsuper does not yet undertake significant inhouse … Read more
There should be net benefit for members or advantages in terms of internal management for superannuation funds considering taking investment inhouse, according to Sunsuper chief investment officer David Hartley. He said funds should be prepared for the impacts internalisation could have on culture and processes. In an exclusive interview with State Street, published in its recently released … Read more
A growing understanding of how smart beta works is exposing the way some managers are charging high fees for the same product and labeling it as active, claims Towers Watson. The remarks were made in a presentation to leading institutional investors at the Conexus Financial Fiduciary Investors Symposium in the Blue Mountains, by Hugh Dougherty, … Read more
In the 22 years since its inception, Industry Funds Credit Control (IFCC) has secured more than $1 billion of unpaid superannuation guarantee (SG) contributions from employers. David Gibson, general manager of IFCC, says that between July 1, 2007 and June 30, 2011, the IFCC secured about $400 million of missed SG payments; in the 2011-12 … Read more
Mention any asset class to John Pearce and he will doggedly set out the good and bad thinking around it. A common source of his ire is the sight of investors herding around a belief based on a lack of rigorous thinking. Good practice for him involves standing up to accepted thinking or at the … Read more
Chair of the Superannuation Complaints Tribunal, Jocelyn Furlan talks to Amal Awad. What’s an average day like for you? An average day for the chairperson is a mixture of working on the business and working in the business. Since I’ve been chair we’ve undergone a huge change process at the tribunal to try and really make … 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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