According to the old adage, the customer is always right, but that’s no longer the case, says Angela Baker, general manager of customer experience and insights at ME Bank. “The focus now is not so much on the customers being right all the time and delivering an experience that delights customers, but actually just getting … Read more
AustralianSuper’s aspiration to move 30 per cent of its assets inhouse has prompted a review of its governance environment to ensure it can accommodate those internal investments. The fund attributes about 86 per cent of its risk to portfolio strategy, investment operations, strategy and asset allocation, according to head of investment operations, Peter Curtis, and … Read more
Whether facing the enemy, or the first day of a conference, something will go wrong and you must have people within your organisation who can adapt and overcome, according to retired Lieutenant Colonel of the US Marine Corp, Dan Mori. Mori, who had a 28-year career in the US Marines including defending David Hicks before … Read more
A leading equity manager persuaded delegates of the virtue of relatively high equity holdings in superannuation portfolios. At the start of this session, Justin Wood of Vinva Investment Management asked delegates to consider if members’ investments outside of super should be considered when setting a default investment strategy. The initial feedback from the audience was … Read more
Disengagement in superannuation funds is caused by members’ fear of loss, confusion over decision making, and embarrassment at small savings levels, a behavioural economist told delegates. The findings came from interviews with 1500 super fund members carried out by market research firm, the Leading Edge. It found 67 per cent had no interaction with their … Read more
Not unlike a typical edition of ABC’s Q&A, host Tony Jones moderated a robust discussion on yesterday’s Super Q&A panel. Opening CMSF 2013, the panel debated a potential leadership spill in Labor, super reform fatigue and executive pay disclosure. Perhaps most controversial was the debate on equal representation on boards, with Garry Weaven, chair of … Read more
The European Union will survive and the US economy will bounce back, according to international experts speaking at a CMSF plenary session. Andreas Huebner, senior managing director of Lazard, said the “EU will survive no problem” but acknowledged there was a long way to go, with economic fundamentals still weak. He sees the real problem … Read more
The winner of the trustee of the year award used his acceptance speech to take a swipe at over-regulation, which he said only served to make his duties harder. Gary Clifford, trustee director of the Fire and Energy Services Superannuation Fund, whose colleagues knew he was receiving the award but had not told him, said … Read more
The Stronger Super reforms aren’t aimed at pushing out smaller funds, says Ross Jones, deputy chairman of the Australian Prudential Regulation Authority (APRA). Speaking on a panel with the commissioner of the Australian Securities and Investments Commission (ASIC), Greg Tanzer, Jones responded to concerns about the impact of reform on smaller funds. “The issue with scale … Read more
There have been a number of studies that look at the after-tax returns of investment managers and conclude that for individual taxable investors, most managers do not generate enough excess return to cover the tax bill caused by the resulting capital gains tax. Superannuation funds have a lower tax rate than individuals, but the tax … Read more
In today’s digital world, super funds are under increasing pressure to provide mobile and tech-savvy members with a greater range of online tools and capability. At the same time funds are grappling to balance a range of other priorities, including regulatory change and pressure to deliver superior member outcomes. Over the past eight years, we’ve … Read more
The world economy will grow this year and there will be positive GDP growth most likely next year, says George Siguler, managing director and founder partner of private equity investment firm, Siguler Guff. Speaking ahead of his appearance at the Conference of the Major Superannuation Funds (CMSF) in Brisbane this week, Siguler said there are … 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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