Australia is no longer the top retirement system in Asia Pacific – the first time that has happened since the Mercer CFA Institute Global Pension Index started tracking and ranking the competence of pension systems around the world. Mercer partner and lead author of the report, David Knox, said superannuation can do better in areas like providing retirement income projection and unisex annuity rates.
Shadow Treasurer Angus Taylor has invoked the US 401(k) scheme in comments about the controversial ‘super for housing’ policy, raising eyebrows about a broader Coalition push for voluntary super. Though likely a throwaway line, Aleks Vickovich writes the reference may also signal aspirations of the party rank-and-file to overturn a landmark Labor achievement.
Cbus Super chief investment officer Brett Chatfield said the $94 billion fund has built a “small, long” position in Chinese equities, diverging from a generally bearish outlook among its asset owner peers about the world’s second largest economy.
Super funds had a strong September with the median growth fund (61 to 80% in growth assets) up 1.2 per cent for the month, according to Chant West.
ASIC has made two appointments to its executive leadership team, covering its regulation and supervision, and enforcement and compliance divisions. The regulator announced that following an international search, Peter Soros has been appointed executive director regulation and supervision. Soros will join ASIC from the Australian Transaction Reports and Analysis Centre (AUSTRAC), Australia’s financial intelligence and … Read more
New research reveals pension funds destroyed value relative to benchmarks in the 2023 calendar year, to the tune of an average of 140 basis points. The two main reasons were a drag on performance in private markets and real assets.
Despite stringent disclosure requirements, members are still confused about the fees they are paying to their super funds. New research commissioned by Vanguard Australia found only 1 per cent of Australians can identify the multiple types of fees being charged to their accounts. SuperRatings insights manager Joshua Lowen said it’s on both funds and members themselves to solve the challenge.
AustralianSuper has made its first investment in the US data centre market, injecting $2.2 billion in DataBank alongside the company’s existing investor DigitalBridge.
Housing Australia and super fund Australian Retirement Trust will invest in the delivery of 604 new affordable and social housing across South East Queensland, with the support from state government.
Complex member communication could deter people from engaging with their retirement savings, but for super funds, maintaining simplicity in their messages has become one of the most difficult things to do. Utilising behavioural science and understanding consumer biases could be the key to better retirement engagement efforts.
Australian super funds’ collaboration with their British counterparts to change the UK policy setting is an engagement effort the first of its kind. However, as the global pension industry and financial markets become increasingly entwined, it certainly won’t be the last. IFM Investors’ David Whiteley outlines its global engagement ambitions on behalf of super funds.
There are reasons profit-to-member super funds have outperformed their retail counterparts, but Colin Tate AM writes that Garry Weaven is wrong to say the structures of their respective boards is the main one, and it may not be a reason at all.
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