ESSSuper sues Iress over fund admin services
Emergency Services Superannuation Board (ESSSuper) has commenced legal proceedings in the Federal Court against Iress and its wholly owned subsidiary Financial Synergy Holdings.
Pluralsight loss ‘humbling’, says AustralianSuper
Mega fund AustralianSuper said it is still feeling the pain from its very public loss in US software company Pluralsight, and even with $341 billion of assets under management, a $1.1 billion write-down is still too big a chunk of money to let go easily. But at the Fiduciary Investors Symposium, the fund’s senior private equity portfolio manager Robert Schnittger, said the most important thing now is to learn the lesson and “not lose money the same way twice”.
No end in sight to a ‘golden age’ of private credit
As private credit markets continue to get broader and deeper, asset owners have become increasingly sophisticated about how they think about and how they access the asset class, the Fiduciary Investors Symposium has heard. Private credit remains attractive even as wariness about the weight of capital-chasing opportunities in some sectors.
Australian funds improve transparency, move up global rankings
The 2024 Global Pension Transparency Benchmark, produced by Investment Magazine sister publication Top1000funds.com in association with CEM Benchmarking, has found the Australian funds in the benchmark have lifted their game significantly. Only Canada is still doing better.
Cbus turns to super warrior in media storm
The appointment of former Industry Super Australia boss Bernie Dean to the C-suite at Cbus may well provide CEO Kristian Fok with valuable advice on how to handle the political and media maelstrom surrounding the construction industry super fund’s ties to now-defunct trade union the CFMEU. But it is also a tell-tale sign the super wars are in full swing ahead of the federal election.
Lill’s parting words: AI the next biggest challenge for super fund CIOs
Andrew Lill departs REST on Friday, less than five years after taking the helm as the fund’s first chief investment officer. He reflects on the challenges facing his successors and for other super fund CIOs, naming technology and especially artificial intelligence, as having the greatest influence on the task of managing members’ money.
Good and bad news for bond investors in high government debts
Concerns around global governments running unprecedented debt levels have been well-documented, but PGIM’s top fixed income strategist Robert Tipp said this new reality has both good and bad news for bond investors. The key lies in different nations’ economic approaches.
CSC MySuper returns 9.1 pc in FY24
Commonwealth Superannuation Corporation has released its annual report for the 2024 financial year, posting a 9.1 per cent return for its Balanced MySuper option.
TCorp revamp to deliver $400m boost to NSW Government
Since early September, 10 of TCorp’s client portfolios have operated under a new investment structure, dubbed OneFund. Chief investment officer Stewart Brentnall told the Fiduciary Investors Symposium that the reorganisation is expected to deliver an additional $400 million to $450 million to the NSW Government every year.
Magnificent Seven? More like the ‘Formidable Two’
The Magnificent Seven is a catchy moniker but investors have been warned that not all of them will live up to the name. In fact, some active equity shops are ready to pounce on the non-discerning market by gaining exposure to the ‘Formidable Two’ – best of the best names in the Magnificent Seven that will likely alone outperform the group.
Insignia nabs TAL talent for new MLC strategy team
Insignia Financial has picked up talent from life insurer TAL to create a new strategy and innovation team with a focus on driving innovation in retirement solutions for the MLC Wealth brand.
Why super funds need to get wise to active ownership
Some asset owners believe active ownership has become a strong portfolio diversifier and that taking an informed “interventional stance” with companies can add value. Other times, active ownership is an important part of damage control, including in cases such as the recent WiseTech scandal.
