Building scale and operational capability, and new regulations are driving the desire for more superannuation fund mergers, according to a recent report by State Street. The paper, ‘Super fund mergers: Benefits, challenges and keys for success’ features a roundtable debate with representatives from institutional super funds Prime Super, AustralianSuper and Media Super, and is contained … Read more
State Street Global Advisors (SSgA) has undergone a significant restructure, including a number of senior leadership changes, in a bid to position it for growth and product development. Head of Asia Pacific, Lochiel Crafter, will be responsible for Australia, and Rob Goodlad, senior managing director and country head, will leave the firm. Kevin Anderson, the … Read more
Some retail providers have deliberately held back their MySuper applications so as to differentiate themselves from industry funds, an analyst has claimed. Nigel Pittaway, managing director insurance and diversified financials research, Citi Research, said retail providers were under pressure as they were having to squeeze margins to compete with the low fees of industry funds, … Read more
Superannuation fund investors investing in property should be mindful of the increased focus on sustainable features in buildings, according to Anita Mitchell, general manager, sustainability at Lend Lease. Speaking at a Women in Super lunch on ‘Super and Sustainability’ last week, Mitchell said buildings that fail to keep up with sustainability demands will become obsolete, … Read more
The licensing of accountants to provide advice to SMSFs will help counter to the unreasonable leakage of superannuation members from funds, according to Nick Sherry, consultant at Citi. “There are far too many SMSFs that are sub-economic, that the operational costs cannot be justified. I see a level of mis-selling around property investment and I … Read more
This article is drawn from a State Street paper, ‘Evolving superannuation funds for the future’, which explores the challenges facing the industry today and how it is evolving in response. To download a copy of the full report, see here. Moderator Robert Goodlad, Senior Managing Director, State Street Global Advisors, Australia Panellists Lachlan Baird, Chief Executive Officer, Prime Super Alistair … Read more
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
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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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