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.
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’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 chief executive Alexis George has been appointed chair of the AMP Foundation, a corporate foundation working with individuals and social enterprises.
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.
In a discussion with Conexus Financial editor-in-chief Aleks Vickovich, current Cbus chair and former federal Treasurer Wayne Swan reflects on four decades of Cbus, his own role in establishing a system of retirement saving that is about to hit $4 trillion and is the envy of most other developed countries, and the role of superannuation in Australian society more broadly.
Super funds have kept close to their climate targets, but investors have been warned that the emission reduction journey will likely get a lot harder as more progress is made.
Australia’s first super-backed ‘built-to-rent-to-own’ (BTRTO) developed has been completed in Melbourne’s Kensington area with the first batch of residents set to move in.
While geopolitical tensions might bring downside risks and investors spend considerable time formulating portfolio protection against this issue, two of Australia’s largest super funds, HESTA and ART, have made it clear that it’s not an area in which they are looking to gain an edge.
The financial services industry is well positioned to benefit from the “exponential upside” resulting from the use of AI, but its senior leaders are not bold enough in embracing and using AI, according to speakers at the Amundi World Investment Forum.
With a potential greater focus on domestic investments and a new chair with a long-time conviction about the energy transition, the Future Fund’s future under its new chair Greg Combet will be closely watched, writes Glenda Korporaal.
APRA has told smaller super funds (with asset of less than $25 billion) and platform RSE licensees to address weaknesses in their unlisted asset valuation processes, following an industry self-assessment survey that identified some deficiencies around the use of revaluation triggers, frequency and board oversight.
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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