Minister for Financial Services Stephen Jones has admitted a mistake in the drafting of a bill relating to life insurance commissions paid to financial advisers. The government will now remedy the error, but the process will almost certainly delay the next round of reform, which many super funds are eagerly anticipating.
Hinerangi Raumati-Tu’ua has been appointed to the Board of the Guardians of New Zealand Superannuation, the manager of the New Zealand Superannuation Fund.
Super Consumers Australia has welcomed APRA’s decision to publish more detailed expense and investment data for super funds, saying greater transparency will help make funds more accountable over the expenditure of member money.
Australia’s compulsory superannuation system has received high praise from BlackRock CEO Larry Fink and is being closely watched by the UK government. But global onlookers might not realise what a political football it has become.
Genium Investment Partners (previously Insight Investment Consultants) has hired Justin Walsh as a senior analyst of research, reporting to co-CEO and head of research, Tim Murphy.
Asset consultant JANA has appointed Claire Simpson as head of investments and David Schnell as head of diversified portfolios in its investment trust team.
Perpetual has appointed Tania Cecconi as lead partner in Western Australia.
Aware Super has joined the chorus of voices raising concerns over the lack of clarity around trustee obligations in the Quality of Advice Review legislation, while advice licensee groups are expected to push for amendments in the Senate.
Hobbies, sound mental health, physical health and financial stability are the primary factors that improve overall wellbeing for retirees, research by Challenger has found.
Resolution Life has entered an agreement to acquire Suncorp Group’s New Zealand life insurance company Asteron Life for NZ$410 million ($375 million).
Multinational food corporation JBS is pursuing a listing on the New York Stock Exchange, which would put it on the radar of Australia’s biggest asset owners who are increasingly investing in overseas equities listed on major international markets. But ESG-conscious super funds may want to think twice about exposure to a company accused of a string of questionable practices including “beefwashing”.
Aware Super chair Sam Mostyn has resigned her role at the helm of the $160 billion mega-fund after she was appointed Australia’s new Governor-General, succeeding David Hurley and becoming the second woman to serve as head of state. A prominent voice for gender equality, superannuation industry figures said millions of women are better off thanks to her advocacy.
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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.
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