It seems nearly every iron ore-related project in the world – including those in Australia currently seeking tens of billions of dollars in investment capital – now claims some sort of green credentials. This is problematic for asset owners, as there are no agreed definitions for “green iron ore”, “green iron” or “green steel”.
The role of chief operating officer is assuming greater significance across the industry as major super funds grow and become increasingly complex financial services businesses. Aware Super’s recently appointed COO Sally Collins oversees the agile work practices and human-centred design she says will be critical to better results for members.
A joint initiative between the SMC and ASFA, alongside not-for-profit Women in Super, has called on the federal government to introduce reforms that stop family violence perpetrators from receiving their victim’s death benefit payment, in a bid to give trustees more legal power to fend off claims from abusers.
Iress has appointed Sam Wall as CEO of its superannuation business.
REST has named Catherine Bolger as a new employee-nominated board director, replacing Julia Fox who retired in May 2024.
Green data centres are hot assets in an even hotter sector, as investors get to grips with the existential need to make these power gobblers energy-efficient. But a real estate ESG expert says the exact meaning of the word “green” is hard to define in this context.
The peak body for retail funds and asset managers, the Financial Services Council, has argued the Your Future Your Super performance test should stick to monitoring simpler financial products, like MySuper and basic Choice. The FSC believes the performance test is best applied to set and forget products, rather than via channels that cater to personalised and advised channels.
Cbus Super has appointed former Victorian Funds Management Corporation chief investment officer Justin Pascoe as head of portfolio construction.
The ideological war against the compulsory superannuation system by the two national newspapers risks destroying the principle of preservation and a retirement savings system that – while imperfect – is the envy of the world. Leadership change in the Nine organisation hopefully brings more objectivity and fairness to an age-old dispute.
After years of being outperformed by industry funds, retail funds are making the most of their improved performance in FY24, boosted by a strong sharemarket. However, industry experts suggest it might be too early to declare that the retail super sector is turning around, and that “stablising” might be a better description.
In another win in ASIC’s greenwashing crackdown, the Federal Court has today ordered Mercer Super to pay a $11.3 million penalty after it admitted to making misleading statements about the sustainable nature and characteristics in some investment options.
Prudential regulator APRA has removed additional licence conditions imposed on N.M. Super.
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