The Australian Securities and Investments Commission (ASIC) will be taking a targeted surveillance approach to how superannuation funds undertake intra-fund advice, with particular regard to disclosure and transparency. The focus falls under the regulator’s facilitated-compliance approach as My Super kicks in at the beginning of July, according to Gerard Fitzpatrick, senior executive leader for investments … Read more
There are two things that drive the newly appointed global chief operating officer of State Street Global Advisors, Greg Ehret, in his bid to improve the client experience: the retirement business is a cause worth working on and the clients are the reason the business exists. Ehret was appointed to the new position at State … Read more
The Coalition has said it will delay the increase of the super guarantee from 9 per cent to 12 per cent if it wins the September federal election. “The measured change we announced last night helps us fund income tax cuts and pension increases without a carbon tax, which will leave most people better off … Read more
One of the best reasons for investing in infrastructure is the growing interest in the asset class from institutional investors worldwide. United States, British and Asian investors are all looking to grow the amount they put into this asset class and so those who hold the asset class now should benefit from the rise in … Read more
A limited range of asset classes held for the long term with little change in managers has generated 10-year average returns of between 7 and 9 per cent per annum for Commonwealth Bank Group Super’s investment options. Its returns and fees have won a steady trickle of awards, but the fund has not sought the … Read more
HOSTPLUS is inviting smaller funds to join them in a “soft merger” by giving access to its investments in a pooled superannuation trust. The fund is building a platform, which it hopes to have ready by the end of the year, that will give other fund and SMSFs access to each investment on a unit … Read more
The Superannuation Complaints Tribunal is seeing a greater number of grievances from retiring baby boomers querying their superannuation benefits, says chair Jocelyn Furlan. Specifically, Furlan says she’s seeing more complaints from baby boomers who have been in super a long time and, having retired from senior roles, feel financially vulnerable in retirement. Furlan said when … Read more
A framework for top-level decision-making on investment impacts, with particular regard to environmental, social and governance (ESG) investment, is in development by Media Super chief investment officer, Jon Glass. “It’s a way to help trustees think through ESG issues, and to evaluate whether they should make decisions that will then have an impact on the … Read more
What is bothering trustees? Investment Magazine conducted an online poll that attracted a substantial and impassioned response, with several respondents sending us emails in addition to the poll pointing out the absence of climate change and hedging to avoid the climate bubble in the choices given below. Another put forward environmental and social governance issues … Read more
In his seventh year as chair of Catholic Super in Victoria, Peter Bugden can comfortably say he’s witnessed notable growth in the fund. What first began in 1971 as a niche offering to Catholic school employees is now an Australia-wide public offer fund, with around $5 billion under management following a period of growth – … Read more
Frontier Advisors is to gain a global reach in its manager research after forming an alliance with a US firm and with the prospect of further deals with consultants in Europe, South America and Asia. It has initially teamed up with North American firm Segal Rogerscasey in a deal that will see it gain access … Read more
As the Australian superannuation industry and its large players grow, the industry should be rethinking its role in the system from a longer term perspective, said Richard Brandweiner, newly appointed director of investment services at First State Super. Speaking at last week’s ACSI conference in Melbourne in a session on ESG-themed investing, he said his opinion … 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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