The Federal Government’s plan to lift the Superannuation Guarantee (SG) from its current 9 per cent to 12 per cent unsurprisingly has widespread industry support. But it might be a surprise for some in the industry that the plan does not have universal and unequivocal community support.
Super and consumer experts debate the SG increase
The Federal Government’s plan to lift the Superannuation Guarantee (SG) from its current 9 per cent to 12 per cent unsurprisingly has widespread industry support. But it might be a surprise for some in the industry that the plan does not have universal and unequivocal community support.
Bill Shorten to introduce 12% superannuation bill today
Bill Shorten at 9:30 am this morning will introduce legislation to increase compulsory superannuation contributions to 12 per cent from 9 per cent.
Super funds will struggle to cut costs further
Warren Chant, a director of a research firm that focuses on superannuation, doubts whether any superannuation fund can achieve a 66 basis point cost per member as targeted in the Cooper Review of superannuation.
Aussie banks the kings of KiwiSaver
Australian-owned banks have scooped up about half of the New Zealand KiwiSaver market, according to new research supplied to I&T News.
Boutique-backer Pinnacle seeks investor of its own
Pinnacle Investment Management Ltd. and its largest shareholder, Wilson HTM Investment Group Ltd., will review potential investors in the business as Pinnacle searches for new fund managers.
Macquarie is Australia’s biggest fund manager, says Towers Watson
Macquarie is the largest Australian fund manager and ranks number 69 in the world with assets under management of $US252.4 billion ($248.4 billion), says consultants Towers Watson.
Investors that did well in August, September may face short squeeze
Anyone who is betting on failure, and is short risky assets, may face a short squeeze following the European bailout, says Richard Quin, managing director of global credit investment manager Bentham.
Michael Seton to exit Military Super
Michael Seton, chief executive officer of the $4 billion Military Super, will leave the fund in mid-November following its merger with the Commonwealth Superannuation Corporation (CSC). Seton will seek a new job in Melbourne now that the integration of the Canberra-based Military Supers assets and staff with those of the $20 billion CSC is “now … Read more
VisionSuper, Equipsuper may combine investment, administration strategies
VisionSuper and Equipsuper may combine internal and external investment and administration functions when they merge in February.
AustralianSuper to add to investment team, seeks tenders for middle office
AustralianSuper Ltd., the $42 billion fund, is seeking to hire a senior manager to decide on asset allocation and has invited tenders to manage its middle office operations.
QIC alternative investments seeks 4.5 per cent plus annual returns (corrected)
A correction to this article was issued on October 27.
QIC alternative investments, which is seeking to build a portfolio that behaves differently from stocks and bonds, is seeking an annual net return of 4.5 per cent plus the consumer price index over five years.*
