Chief investment officer of $25 billion TelstraSuper, Graeme Miller, says that the recent downswing in real estate returns was “inevitable” due to its cyclical nature, but for the same reason, a property rebound will almost certainly occur at some point in the future too. This vote of confidence came as many fund returns were dragged down by the asset class in the 2024 financial year.
People’s Pension, one of the largest master trust workplace pensions in the UK, is modelling itself on Australian super funds as its CIO, Dan Mikulskis, sees strong advantages in setting up an equivalent to IFM Investors for access to private markets and building out internal investment teams.
AMP has hired Estelle Liu as head of retirement solutions, a newly created position as AMP bolsters its retirement capabilities.
Value managers have played a key part in handing Insignia Financial’s significant superannuation arm 2 per cent alpha in its global equities portfolio, despite the fund’s underweight position in technology stocks that many of its peers relied on to drive returns.
Inflation is one of the major risks any provider of retirement solutions needs to effectively address, but inflation is having another, possibly unexpected impact on retirement: concerns over the rising cost of living are beginning to cause people to think about retiring later.
As a growing number of superannuation funds announce double-digit FY24 investment returns for members, CFS chief investment officer Jonathan Armitage says robust risk management must remain at the front of asset owners’ minds, and the benefits of effective diversification should not be forgotten.
Chief investment officer of the $55 billion AMP Super, Anna Shelley, says more funds will potentially crank up members’ exposure to growth assets as life expectancy increases and people retire later. As it delivered over 11 per cent for around 80 per cent of members in FY24, Shelley says the end point of retirement investing is no longer the age of 65, but 100.
TelstraSuper has posted a 9.6 per cent return for its MySuper Growth option in FY24, which is the investment option that applies to all members below age 50 who do not make an investment choice.
Aware Super has reported an 11.02 per cent return for its High Growth accumulation option in FY24, the default members aged 55 and under with the fund’s MySuper product, which has a lifecycle design.
The nation’s largest superannuation fund, AustralianSuper, has returned 8.46 per cent in its MySuper Balanced investment option, and 10.2 per cent for High Growth in FY24.
Sequoia Financial Group will streamline its divisional structure from four to two reporting divisions, as well as reduce headcount by 10 per cent.
Life insurance policy extender iExtend has gained its AFSL after ASIC accepted a court enforceable undertaking from the business to apply for a license earlier this year.
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