Prime Super names CEO
Prime Super has appointed Raelene Seales as chief executive, commencing 3 June 2024.
Super funds’ ASX board nominations ‘both foreseeable and manageable’
In the history of the corporation, directors appointed as a nominee of another entity have been commonplace. Large super funds nominating directors to ASX companies is something to be expected, and looks like both a foreseeable and manageable development.
UniSuper hit with service disruptions
UniSuper has experienced major website disruptions that have made its online account services, calculators and application forms temporarily unavailable. In a letter to members on Thursday night, the $130 billion fund confirmed that the issue originated from a third-party service provider.
Ultimate test for private credit investors is yet to come
Even as asset owners increase allocations to private credit, investors have been warned that the ultimate test of the asset class has yet to come. As long as returns adequately compensate investors for risk, the sector will continue to attract new money, but its moment of truth will come when borrowers run into trouble.
Asset owners wary of poor investment governance costing returns
Australian asset owners have come to the consensus that poor investment governance will cost their portfolio at least to some extent, with 68 per cent saying the return penalty would be as great as 1 per cent per annum or more, according to a report by Frontier Advisors and KPMG.
Insignia completes $36.8b MLC Wealth migration to Expand
Insignia Financial has successfully migrated over 94,000 client accounts holding $38.6 billion funds under administration (FUA) from MLC Wrap, MLC Navigator, and associated offers to its Expand platform.
Vanguard Super cuts fees
Vanguard Super has reduced its annual administration fees from 0.35 per cent p.a. to 0.33 per cent p.a. with the administration fee cap lowered from $850,000 to $300,000.
Qantas Super commits $200m to agriculture play
Qantas Super has committed $200 million with agriculture investor GO.FARM to transform underutilised agricultural land into horticultural projects in NSW’s Riverina, northern Victoria and other parts of Australia.
Bubble won’t burst just yet for private credit
Macroeconomics Advisory chief economist Stephen Anthony has predicted that the good times for private credit will continue for another 12 to 18 months for asset owners but said that the economy is “in a bubble” and the asset class is a byproduct of that.
First Nations peoples must not end up with net zero in energy transition
Large amounts of government cash are already flowing to projects (some of which have billionaire backing) but there is limited real action on advancing First Nations’ rights and aspirations; addressing social disadvantage or protecting the environment. Aspiring First Nations project developers will be listening to Treasurer Jim Chalmers’ May 14 Budget speech to hear what new specific action is being taken to help them on their journey to economic self-determination.
Two-thirds of Australians underwhelmed by super balances: ART
Research from Australian Retirement Trust has found 67 per cent of Australians don’t feel their superannuation balance is in a good position for their age.
Australians switch financial habits due to rising cost of living: Findex
The majority of Australians (81 per cent) had to change their investment and saving goals in the last 12 months with the primary reason (44 per cent) being the rising cost of living, according to a Findex research.
