‘No evidence’ of further unauthorised access in Iress breach
Iress has concluded its internal investigation into the unauthorised access of Iress’ user space on GitHub as first announced on 13 May 2024.
Australia has world-class fund practices, but one Kiwi does it better
Australian sovereign and super funds will be pleased to find out that time spent on building good investment practices has not gone unnoticed, as a new report hails them as global leaders when it comes to having rigorous governance, sustainability and resilience frameworks. But they still have something to learn from their counterpart across the ditch, NZ Super.
HESTA MySuper delivers 9.1pc return in FY24
The $83 billion HESTA has returned 9.1 per cent for its MySuper Balanced Growth option in the 2024 financial year, surpassing the 7.62 per cent annual return in the past decade.
REST MySuper returns 8.67pc in FY24
Retail workers industry fund REST has posted an 8.67 per cent return for its default MySuper product in the 2024 financial year. The product has had a 6.97 per cent return per annum in the past decade.
MetLife Foundation offers $115k grant to First Nations Foundation
First Nations Foundation has received $155,000 (US$100,000) from MetLife Foundation to continue strengthening the financial knowledge of First Nations women.
‘Big and patient’: ART harnesses scale to post 11.3pc return
As Australian Retirement Trust unveils its FY24 investment results, head of investment strategy Andrew Fisher says the $300 billion fund hasn’t wavered from its view that a soft landing is the most likely economic scenario, and that it will continue to exploit its scale and discipline and remain patient to meet long-term objectives.
How ART plans to execute ‘no impact’ member shift to high growth
As Australian Retirement Trust prepares to shift around 1.4 million of its 2.3 million members into a MySuper strategy that is equivalent to its high growth investment option, the option’s 11.3 per cent 12-month return announced on Sunday illustrates the potential long-term benefits that may accrue to members who are moved.
Future Fund keeps a level head amid geopolitical turmoil
The $223 billion Future Fund intends to keep its eyes wide open amid global geopolitical tensions and refrain from over or underestimating their impact on financial markets. In its latest position paper, the fund said seeking “true diversifiers” in portfolios has never been more important as “free lunch” like geographic diversification is no longer as effective.
‘An implausible planning scenario’: Inside the UniSuper outage
In May this year, UniSuper’s member services system was taken down by the failure of a key service provider. For a week, more than 647,000 members with more than $135 billion invested in the fund could not access their accounts. Investment Magazine goes behind the scenes of this unprecedented crisis with UniSuper CEO Peter Chun to examine the causes, the remedies and the lessons learned.
Active Super greenwashing case shows ASIC’s focus on details in ESG claims
Active Super’s latest run-in with ASIC over greenwashing demonstrates that the regulator is expecting trustees to “do what they say, and say what they do” when it comes to ESG claims, legal experts said, and to think twice before making sweeping statements that they can’t necessarily fulfill.
AMP Foundation appoints Alexis George as chair
AMP chief executive Alexis George has been appointed chair of the AMP Foundation, a corporate foundation working with individuals and social enterprises.
ASFA welcomes NALE amendments
The Association of Superannuation Funds of Australia has welcomed amendments to the way the non arm’s length expense (NALE) rules apply to large superannuation funds, passed by Parliament yesterday.
