Mine Super, TWUSUPER bump merger completion to 2025
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”.
Govt selling short affordable housing costs: Aware CIO
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”.
Qualified advisers present new member service opportunities: UniSuper
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.
2024 Investment Magazine Fiduciary Investors Symposium Gallery
Images from the 2024 Investment Magazine Fiduciary Investors Symposium, held in the Blue Mountains west of Sydney, on 14 to 16 May.
‘We think we got it right’ on super advice fee rules: Jones
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.
Cbus bucks industry insurance trend to boost members with cover
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.
Link Group rebrands after successful MUFG acquisition
Link Group has rebranded to MUFG Pension & Market Services after its acquisition by Mitsubishi UFJ Trust & Banking Corporation was successfully implemented.
Aware Super appoints operations GM
Aware Super has appointed Winnie Huen to the newly created role of general manager strategy and transformation.
Super funds are too big to not invest in energy transition
Former First State Super chief investment officer Richard Brandweiner said super funds should expect to be called upon when it comes to investing in key economic areas such as the energy transition, irrespective of the sometimes not so subtle political agenda around some of these issues. At the Investment Magazine Fiduciary Investors Symposium in the Blue Mountains on Tuesday, the energy transition opportunity emerged as a megatrend that investors need to grapple with “whether they like it or not”.
AI – a world where nothing can possibly go worng
Disruptive innovation catalysed by artificial intelligence could drive associated company market values from 16 per cent of global stock market capitalisation to more than 60 per cent by 2030. Asset owners and managers must learn how to assess the ESG implications of the design, development and deployment of AI.
Equity Trustees to take possession of ANZ’s will bank
Nearly 6000 wills, along with related estate planning documents currently held by ANZ Group, will be transferred to Equity Trustees for management and safekeeping.
