Super Members Council appoints inaugural chair
The Super Members Council has appointed business leader Ann Sherry as its chair, replacing interim chair Nicola Roxon who will continue to serve on the SMC board as a nominee of HESTA.
HESTA sees increasing member interest in digital tools
Health industry fund HESTA said its members are increasingly adopting digital tools for retirement planning purposes.
Why this sustainable investing exec welcomes anti-ESG sentiment
The global head of sustainable investing at Ontario Teachers’ Pension Plan, Anna Murray, said she had finally come to terms with the anti-ESG sentiment in certain markets. In a panel alongside asset managers Ninety One and BNP Paribas, she told the Fiduciary Investors Symposium in Toronto, Canada, that it’s time to rethink the ESG label and instead think about it as an integral part of the fiduciary duty.
When agency risk threatens to become systemic failure
Super funds are deviating from their original mission as “guardians of pension” and are starting to look and sound worryingly like asset managers, according to industry veteran and former Lazard Australia CEO Rob Prugue. As Australia’s retirement savings pool continues to balloon, he asked whether the sector’s immense scale has created a moral hazard.
How asset owners can move the dial on gender diversity in investment teams
Promoting gender diversity is a big issue for asset owners and despite the progress made so far, many investment teams are still characterised by finance stereotypes that can deter more diverse candidates from joining the sector. But as a starting point for those looking to bring genuine change – be it internally or in the broader industry – the Fiduciary Investors Symposium has heard that difficult conversations must be had about how to eliminate “micro-exclusionary” events and recognise men and women’s different ways of working.
‘Naivety’ behind disappointing emerging markets returns
The story of emerging markets in the past decade has been filled with both hopes and disappointments. Despite bullish GDP growth in developing countries and the promises that came with it, EMs have delivered lukewarm performance during the period. Some may argue that there has been an underestimation of risks, but the Fiduciary Investors Symposium heard that the disappointment is a product of “naive expectations”.
Morningstar throws down gauntlet to Chant West, SuperRatings
Amid growing regulatory scrutiny over super fund performance, fees and insurance, Morningstar plans to launch a rating system to help support advisers in choosing the most appropriate fund for their clients. The researcher believes its track record dealing directly with retail and wholesale funds gives it an edge over other superannuation ratings firms such as Chant West and SuperRatings.
Don’t rush to internalise investments without considering all the risks
It was beholden upon investment leaders to consider very carefully the gamut of issues associated with developing internal teams before they decide to absorb certain capabilities, according to 1886 Consulting founder and director Doug Talbot. Internalisation – particularly in private markets – solely for cost saving purposes might address one issue but, if not managed carefully, could raise a host of others.
Cost savings not the top driver for internalisation: AustralianSuper
Super funds are increasingly taking on characteristics of asset managers as they internalise investment capability. But AustralianSuper global head of real assets Nik Kemp told the Fiduciary Investors Symposium that internalisation is not only about driving down costs, which in fact ranks well down the order of benefits.
The embers of thermal coal will glow for a while yet
Have some ESG-conscious investors been getting it all wrong, and does the world in fact need thermal coal profits in order to help fund clean energy transition? Excluding companies such as Glencore, which are major thermal coal producers, may close off opportunities to participate in the energy transition as they pivot to production of energy-transition metals.
Mercer Super hit with additional licence conditions
APRA has ordered Mercer Super to meet additional licence conditions after “risk management and compliance management deficiencies” were identified by the regulator.
Bold ideas to solve the retirement puzzle
A big problem requires bold solutions, and an Investment Magazine roundtable has heard some bold ideas on how super funds can create and deliver leading-edge retirement income solutions for members. The roundtable heard that product is one part of it, and guidance and advice will be integral, but a fundamental issue is member engagement.
