Australian asset owners continue to see value in emerging market equities despite an extended disappointing run for the asset class, as they bet on growth and economic diversification to deliver longer-term returns. But the composition of indexes and capturing expected GDP growth of emerging economies remain challenges.
The competitive forces shaping mergers in the superannuation industry aren’t necessarily focused on quality, but rather, on the blunt metric of scale. Whether that’s good for members or not is debatable, but what’s not in question is that complex and often protracted transactions – such as the merger of TelstraSuper and Equip Super recently announced – need to be managed adroitly to get the best out of them, for everyone concerned.
A higher interest rate environment, increasing divergence among major central banks, and geopolitical uncertainty are some of the major risks that global top asset owners and managers are bracing for in coming years, the Fiduciary Investors Symposium at Stanford University has heard.
The revelation that superannuation funds are preventing low-balance members from accessing an account-based pension raises ethical alarm bells. The widespread practice places a potential handbrake on the poorest Australians entering pension phase and arguably threatens the grand bargain with the Australian public on compulsory super.
A little-known administrative hurdle is prohibiting tens of thousands of poorer Australians from accessing the tax-free account-based pensions, as most super funds have placed a minimum balance requirement – as much as $50,000 at funds including AustralianSuper and HESTA – on retirees to apply for an ABP. Super Consumers Australia’s Katrina Ellis suggested the ‘outrageous’ practice may be illegal.
The Federal Court has dismissed ASIC’s case against REST Super for alleged misleading representations of members’ rights to transfer money out of the fund.
REST has named Duncan Whiteside as its general counsel, who joins from MetLife Australia.
Industry Fund Services CEO Csaba Baranyai has stepped down from the industry fund-owned service provider, effective 25 October 2025.
From 1 July 2026, employers will need to make super contributions to employees on ‘payday’ instead of quarterly, as payday super measure kicks in.
Brighter Super staff have voted in favour of an enterprise agreement that will see its employees benefit from salary increases, more super contributions, hybrid working arrangement and better base starting rate.
TelstraSuper and Equip Super have entered into a merger agreement after the former announced that it was looking for a merger partner in May.
MLC Super Fund has announced that administration fees will be greatly reduced for members in its superannuation and pension products.
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