Australia’s largest super fund now has more money leaving than arriving as a result of member switching, according to APRA data analysed by The Conexus Institute, as the influence of the retail platforms continues to grow.
Modern artificial intelligence is all about scale, and technology leaders are racing to build that scale in an effort to preserve and grow their competitive advantages. That’s creating opportunities for asset owners to invest alongside world-leading technology companies that are making transformational advances in their core business, writes Blue Owl’s Alicia Gregory.
Outgoing Ambassador to the US, former prime minister Kevin Rudd, has been a driving force behind the growing recognition of Australia’s gargantuan superannuation funds among America’s political and business elite. His replacement will have a big say over whether the sector can continue to enjoy its newfound influence as an apparatus of state diplomacy.
Tim Hodgson, co-founder of WTW’s Thinking Ahead Institute, has left the prolific research network as it seeks closer ties with the broader consultancy. The network’s head Marisa Hall rejected the suggestion of any fundamental restructuring but said TAI needs more resources as it takes on more TPA projects.
Political debate around climate policy has never been more intense, and Australia’s largest institutional investors find themselves torn between ideology, hard investment objectives and fiduciary responsibility. To make it through, they need to move towards practical methods that align portfolios with real world outcomes.
The retirement phase of superannuation (super) is developing slowly – too slowly for the many who will soon retire. The Conexus Institute has developed a “to-do list” for policymakers and regulators to improve member outcomes more quickly.
Many super funds are falling over themselves to create relationships with external professional advisers to deliver advice to members, especially as they near retirement. But one of Australia’s foremost financial advisers, Marisa Broome, says the service standards of profit-to-member funds generally do not hold a candle to retail funds or platforms; and they could do worse than stopping treating advisers as the enemy.
Long regarded as leading the world in the design of defined-contribution accumulation schemes, Australia is a laggard when it comes to its decumulation scheme design. Surveying the state of play in overseas jurisdictions reveals some great ideas that Australia could consider adopting, even as those countries themselves continue look to us for pointers.
Colonial First State chief investment officer Jonathan Armitage says the fund is investing more into emerging markets and has taken out an “insurance policy” on the US – but doesn’t think investors should give up on the land of the free yet.
APRA’s executive director for life insurance, private health insurance and superannuation has resigned to take up an opportunity at a regulated entity.
Trying to accurately predict the future is futile. So Australia’s top investors are building portfolios designed to endure uncertainty rather than capitalise on heroic assumptions about market performance as scrutiny of its key drivers ramps up.
Funds that build capable teams, resilient structures, reliable information flows and a culture of accountability are best equipped to manage the complexity and uncertainty that comes with higher allocations to alts, and are more likely to deliver consistent, durable retirement outcomes within an evolving legal and regulatory environment.
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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.
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.
