Investing in infrastructure has exposed differences in opinion between two of the largest superannuation funds, with the $280 billion ART opening offices offshore to chase opportunities, and the $130 billion UniSuper preferring to focus on domestically.
Sally Evans and Julia Fox are set to depart the profit-for-member super fund on 31 July and 26 May, respectively.
A Senate inquiry into insurance in superannuation, and the extension of its reporting deadline to 30 June 2025, presents a valuable opportunity for the industry to proactively address challenges in TPD insurance and improve member outcomes, an Investment Magazine roundtable has heard.
Asset owners are exposed to natural capital risk whether they like it or not, whether they know it or not, and whether they manage it or not. The Investment Magazine Fiduciary Investors Symposium has heard that even if they haven’t invested in natural capital as a discrete asset class, they should be aware of the risks they face.
Prime Minister Anthony Albanese speaks with Conexus Financial editor-in-chief Aleks Vickovich.
Mine Super and TWUSUPER have completed the first phase of their merger, though the completion date has been pushed out to early 2025 “to focus on a smooth transition”.
Chief investment officer of the $175 billion Aware Super, Damian Graham, said the government has significantly underestimated the capital needed to reach its 1.2 million new homes by 2029 target. The federal budget put forward an $11 billion package for housing this week, but Graham said the real cost may be closer to “hundreds of billions”.
Andrew Gregory, head of advice for the $135 billion profit-for-member fund UniSuper, is confident qualified advisers will complement the advice landscape and is “excited” about how they will sit in the fund’s business model. However, he is clear there needs to be well-defined guardrails over what advice is given and an effective way to triage into holistic advisers when the need arises.
Images from the 2024 Investment Magazine Fiduciary Investors Symposium, held in the Blue Mountains west of Sydney, on 14 to 16 May.
Despite pushback from the FSC on issues with the first tranche of QAR legislation over how advice fees are deducted from funds, Minister for Financial Services Stephen Jones backed the current wording of the bill saying it reinforced what Michelle Levy recommended. The minister has been taken aback by the controversy describing the provision as being “non-contro” and wants to move onto other parts of the reform package.
Changes to compulsory insurance under the Protecting Your Super (PYS) measures haven’t stopped the $85 billion Cbus from increasing the proportion of its members with insurance cover. Head of insurance Noel Lacey says it’s largely due to clear and effective communication with members, and a successful application under the Dangerous Occupations Exemption.
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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.
We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
