The proliferation of AI tools should mean even the largest institutions can rely on readymade technology to service their needs. In an interview with Investment Magazine in London, JP Morgan Asset Management CEO George Gatch says the decision to develop their own tools inhouse reflected the nuances needed to successfully implement AI.
The nation’s largest super fund AustralianSuper has partnered with life insurer TAL to develop a new ‘income for life’ retirement option.
Sydney-based wealthtech HeirWealth has partnered with open banking technology company Envestnet Yodlee to streamline the intergenerational wealth transfer process.
The majority of Australians (88 per cent) are expressing a desire to invest ethically, either via super or other investments, but have trouble identifying truly ethical financial products, according to a study by the Responsible Investment Association Australasia (RIAA).
MFS Investment Management has appointed Alison O’Neill as its chief investment officer, overseeing a 300-person investment team across equity, fixed income, quantitative solutions and global trading teams.
Iress has entered a binding agreement to sell its UK mortgage sales and originations business to Bain Capital for a cash consideration of £85m ($A164.3m) before costs.
The nation’s second-largest super fund, Australian Retirement Trust, is well-known for bucking the trend of internalisation, keeping the bulk of its assets with specialist external managers. But the fund’s senior PM, Peter Barany, says chasing past performance can result in a “merry-go-round” of disappointing mandate decisions.
APRA and ASIC have published information to help banks, insurers and super funds prepare for the commencement of the Financial Accountability Regime (FAR).
A focus on driving down costs, accelerated by the Your Future Your Super performance test, has seen Australian superannuation funds emerge as significantly lower-cost fiduciaries of retirement savings than their global counterparts. Members of Australian funds are billions of dollars a year better off as a result.
IMAP’s Census of Managed Account FUM in conjunction with Milliman Australia shows that managed accounts FUM reached $194.8 billion as at 31 December 2023 due to an increase of $33.1 billion in 6 months with growth from both inflows and market gains.
Equity Trustees has appointed Suzanne Holden as a non-executive director to its superannuation trustee business, as it passes the $60 billion funds under supervision (FUS) milestone.
The Conexus Institute’s submission to the Treasury consultation on the retirement phase of superannuation highlights the need for policymakers to pay more attention to designing a choice architecture that leaves no member behind.
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