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.
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.
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.
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.
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.
Australians want to contribute more to their retirement savings during times of economic uncertainties, research by Equip Super found.
Ian Patrick, chief investment officer of the $280 billion Australian Retirement Trust, says the headwinds facing asset management businesses will become an “ongoing reality” as competition for super fund capital heats up. However, it won’t be a cause for more investment internationalisation at ART, as the fund opened a “modest” London office this week to better work with its partners on the ground.
Consultation on the Your Future Your Super performance test has provoked industry pushback against expanding the test into the retirement product and self-managed super fund sectors. The peak financial advice representative association has added its voice to others in expressing reservations about the impact on consumers of a retirement product failing a government-mandated test.
Australian sovereign wealth fund Future Fund has returned 8.3 per cent in the financial year to date, adding $17.2 billion during the period and taking the overall assets under management to a record $223.4 billion.
Andrew Whittaker, portfolio protection strategist in QIC’s $65 billion investment team, thinks the market outlook is rich with opportunities despite the high-volatility environment becoming somewhat of a norm. As the fund shifts gears to lean towards a total portfolio approach, it is looking for more flexibility and better outcomes beyond just optimised sub-portfolios.
As more statistics emerge about the drop in insurance in superannuation as a result of recent legislative changes, shortcomings in the regime are becoming clearer. Critics say it’s overdue for an overhaul, focusing on claims processing; cover which encourages people to recover from illness or injury, where they can, and get back to work; and more standard terms of coverage which meet broader community expectations.
Sydney-headquartered First Sentier Investors will hand back around $14 billion to a dozen local institutional clients after shedding four investment capabilities in its Australian asset management team.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
