Brighter Super selects State Street as custodian and administrator
State Street has become the custodian and administrator of the $30 billion Brighter Super.
Experts deride ‘super for housing’ at their peril
While it might not be enough to win government for the Coalition, the controversial policy allowing first home buyers to draw on super is emerging as a populist success that could reshape the ‘super wars’ forever. The industry needs to win hearts and minds on the concept of preservation or be willing to accept a more flexible retirement system.
In Canada as in Australia, pension funds are coming ‘under attack’
The Fiduciary Investors Symposium in Toronto heard from four leaders who were instrumental in making the so-called “Canadian model” of institutional asset ownership what it is today. More than 40 years later, they are concerned the sound principles of the nation’s lauded pension system are under attack and need to be defended.
NZ Super appoints acting CIO
The Guardians of Kiwi sovereign fund NZ Super has appointed Alex Bacchus as acting chief investment officer amid Stephen Gilmore’s departure to CalPERS.
New Insignia CEO takes aim at super advice fee deduction plan
Scott Hartley, chief executive of Insignia Financial, the nation’s largest retail fund provider, has called for amendments to the fee deduction rules proposed by the government in its bill acting on the Quality of Advice Review. The government quietly made changes to the explanatory memorandum last week, but critics maintain the bill, as drafted, places additional supervision obligations on superannuation trustees and adds costs for members.
Super funds pile into Australia’s inaugural green bond
AustralianSuper and UniSuper are among the funds that have leapt at the opportunity to buy the Australian government’s first green bonds issue, as investors seek ways to further tap into the sustainable finance market.
NZ Super selects Northern Trust to provide data solutions
Northern Trust has expanded its relationship with the NZ Super Fund to provide data services via its Data Warehouse Solutions offering.
Future Fund, QIC acquire interest in Victoria’s EastLink toll road
The Future Fund and QIC have acquired an interest in the EastLink toll road network sold by New Zealand Superannuation Fund and Teachers Insurance and Annuity Association of America, advised by its investment advisor Nuveen Infrastructure.
HESTA appoints general manager of strategic planning
Health industry fund HESTA has appointed Alissa Knight to the newly created role of general manager strategic planning, effective from 11 June.
Court finds Active Super made misleading claims over ESG and Russian investments
The Federal Court found that Active Super has made misleading claims about ESG and Russian investments in its website, reports and disclosure documents, in a case brought forward by ASIC amid the regulator’s increasing focus on greenwashing.
Equity Trustees hit with APRA fine over data reporting failure
APRA has fined Equity Trustees $782,500 for failing to meet its legal obligations to report data to the regulator.
Preservation’s days numbered as Canberra spars over super honeypot
While the odds still favour a Labor victory at the next election, the Coalition’s desire to tap into the superannuation honey pot as part of its election policies is now very clear. The prospect of politics one day overriding the lofty ideals of the Objective of Superannuation legislation to preserve super fund savings until retirement now looks increasingly likely – if not in the short-term but sometime down the track.
