APRA has never made its expectations clearer that funds must act now on issues like managing unlisted asset valuation and operational risks. After outlining its wide-ranging new year initiatives in detail this week, the regulator’s deputy chair Margaret Cole told Investment Magazine Chair Forum that inaction will be “a fast track to non-compliance”.
Ultimately meant to provide investment analysts with greater awareness over climate change obligations, the new disclosure regime currently under public consultation – if introduced – will only benefit CIOs and analysts if it is accompanied by rigorous auditing and proper regulatory oversight of the quality of sustainability reports.
ESG considerations are becoming firmly embedded in the investment philosophy of major funds around the globe and the military industrial complex is finding itself boxed out from investor capital. Weapons manufacturers now argue it is insulting to be equated to fossil fuel providers, tobacco companies or pornography, insisting its contributions are necessary to defending Western democracies.
Financial Services Council CEO Blake Briggs has been appointed to the Private Pensions Expert Group of Business at OECD.
Independent director and chair of HESTA investment committee, Susanne Dahn, have been made a member of the Order of Australia in the 2024 Australia Day Honours for their services to the business, finance, and banking industries.
Former Industry Super Australia chair Greg Combet has been appointed to succeed Peter Costello at the Future Fund, while former QSuper CEO Rosemary Vilgan has been named a board member. The move indicates an expansion of the industry super movement’s influence over the $212 billion sovereign fund and has excited environmentalists about the prospect of a greener mandate.
In the race to secure superannuation capital which is increasingly flowing to mature overseas markets, Housing Australia CEO Nathan Dal Bon says the Australian social and affordable housing sector needs more time to prove its worth.
Two different paths have formed as asset managers have struggled to live up to the expectations of asset owners over ESG engagement in investee companies. A conservative approach to voting for proactive measures has led to managers with net zero targets failing to fulfil those commitments.
Aware Super has named Agnes Hong as its head of public market equities. Relocating from Philadelphia, she will oversee a portfolio of roughly $90 billion.
Reinsurance company Pacific Life Re has moved to a product-based organisational structure globally.
The superannuation system has been a wonderful achievement for Australia, ensuring regular workers and not just the rich receive the benefits of markets. But with increased scale and power, some of its leaders may be losing touch with everyday members, and on the challenging topics of customer service and retirement preparedness, some are in denial.
Rob da Silva has joined Research IP following his departure from SQM Research last year.
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