After years of being outperformed by industry funds, retail funds are making the most of their improved performance in FY24, boosted by a strong sharemarket. However, industry experts suggest it might be too early to declare that the retail super sector is turning around, and that “stablising” might be a better description.
In another win in ASIC’s greenwashing crackdown, the Federal Court has today ordered Mercer Super to pay a $11.3 million penalty after it admitted to making misleading statements about the sustainable nature and characteristics in some investment options.
Prudential regulator APRA has removed additional licence conditions imposed on N.M. Super.
Brighter Super chief executive Kate Farrar has been awarded fund executive of the year by the Fund Executive Association Limited.
The funds that take a total portfolio approach added 1.8 per cent per annum over 10 years above those that use strategic asset allocation, according to a recent Thinking Ahead Institute study of 26 asset owners, including the Future Fund. And the systems-thinking TPA approach, with the benefits of dynamism and joined-upness, will help asset owners in an environment of increasing complexity according to the report’s author, Roger Urwin.
REST and Barings have officially begun the development of logistics and industrial estate at Kemps Creek in Sydney south-west, after the two jointly acquired the site in April.
The insurance industry has found success in shifting from just paying claims to rehabilitation programs that get as many people back to work as possible. Now its attention is turning to prevention program and reducing the incidence of insurance claims in the first place.
Just one week after Coalition Senator Andrew Bragg questioned the compulsory, default settings of the superannuation system, Shadow Minister for Financial Services Luke Howarth has used an industry event to express support for both compulsion and for profit-to-member funds.
Rapid advances in neuroscience and artificial intelligence are converging to present clear opportunities to reimagine how life insurance is designed and delivered to fund members. As well as offering the prospect of better treatment and management of illnesses, insurers are entering an era of more personalised cover and communications.
Insurance and superannuation executives have warned the industry to not be so quick to dismiss group insurance criticism such as that from Coalition Senator Andrew Bragg, despite the often provocative language, but to treat it as a chance for a reality check.
Spirit Super will forgo its brand name but retain elements of its fund logo under its marriage to CareSuper in what was described as a “true merger of equals”. As the two funds look to officially merge from 1 November, the unified entity will retain CareSuper’s name due to “strong brand recognition”, notwithstanding Spirit Super’s larger assets under management.
Housing Australia, the government agency that administers the Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF), has named the successor to the outgoing chief executive, Nathan Dal Bon.
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