Resolution Life acquires Suncorp’s NZ insurance arm
Resolution Life has entered an agreement to acquire Suncorp Group’s New Zealand life insurance company Asteron Life for NZ$410 million ($375 million).
The NYSE hopeful super funds could have ESG beef with
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”.
Industry celebrates Aware chair’s elevation to Governor-General
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.
BT appoints chief product officer
BT has appointed Annabelle Kline as chief product officer, where she will be responsible for leading BT’s platforms business.
Advice tech intelliflo further integrates with research partners
Financial advice technology provider intelliflo has announced further integration with research providers Product Rex and Omnium.
YFYS review creates ‘red pill or blue pill’ moment for industry
The concept of a single-metric, backwards-looking performance test applied retrospectively is deeply flawed, and the current Treasury review is an opportunity to design a better performance test with better outcomes for members. But many funds have now adjusted to the old test and subscribe to the view of “better the devil you know”, making the road to reform more difficult.
Incoming Future Fund chair urges institutional investment in net zero
The incoming chair of the Future Fund Board of Guardians, Greg Combet, has indicated there needs to be significant government and private sector collaboration when it comes to achieving net zero emissions, including support from institutional capital. But asked what role the $211 billion sovereign wealth fund should play, Combet made clear he would respect the Future Fund’s existing objective.
AZ NGA appoints executive general manager
AZ NGA has appointed Chesne Stafford to the newly created role of executive general manager.
Count picks up Insignia practice
Count has added advisory business Murray Nankivell to its network, having previously been licensed by Insignia-owned Australian financial services licensee Consultum.
Private credit ‘not a bubble’, says AMP as it kicks off SAA review
AMP’s superannuation arm is set to increase its private debt and overall credit exposure as the retail fund embarks on a strategic asset allocation review in the next few months. Addressing the rising concern among global institutional investors that the private debt boom might be deceiving, AMP’s portfolio management head Stuart Eliot says the asset class is “definitely not a bubble” and still offers attractive opportunities.
ASIC wins first greenwashing case amid climate disclosure push
ASIC has scored its first win on the greenwashing front as the Federal Court ruled in its favour on Thursday that Vanguard Australia made “misleading claims” in one of its investment products. It came as the Labor government ramps up its legislative commitment to net zero action before the election.
Legalsuper appoints investment and commercial execs
Legalsuper has appointed Paul Murray as its chief investment officer, Colin Adamson as chief commercial officer and Alissa Knight to the office of the CEO and strategy.
