Super Consumers Australia warned that more work needs to be done from funds to mitigate risks of super scams, as the advocate group’s recent survey found 81 per cent of Australians want their funds to provide more active protection.
Australian Ethical has appointed Fiona Reynolds, former CEO of UN-backed Principles for Responsible Investment, to its super board.
Super funds claim uncertain advice regulation is holding them back from fulfilling their Retirement Income Covenant obligations, as regulators once again take them to task for an underwhelming response. The Conexus Institute notes funds have yet to get their act together on collecting enough member data to properly inform a strategy.
Iress has concluded its internal investigation into the unauthorised access of Iress’ user space on GitHub as first announced on 13 May 2024.
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.
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.
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.
First Nations Foundation has received $155,000 (US$100,000) from MetLife Foundation to continue strengthening the financial knowledge of First Nations women.
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.
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.
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.
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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.
