Advice firm Alteris appoints JANA as investment consultant
Wealth management firm Alteris Financial Group has appointed JANA as its investment consultant.
Future Fund boosts private credit, equities as it tips higher rates for longer
The Future Fund reduced its cash component by 2.8 per cent in the 2023 calendar year, redeploying the assets to floating rate credit investments and public equity markets as it attempts to shake off criticism of its performance. But the $212 billion sovereign wealth fund still maintains a reasonably bearish outlook, warning of “questionable” equity prices.
ESG super funds punch above weight for net flows and assets
Combining size and flow rates creates a rich picture of the super fund landscape, from which four distinct quadrants can be extrapolated depending on their asset size and growth trajectory. Research from The Conexus Institute finds while a handful of big profit-for-member funds rank well for both assets and growth, ESG-focused funds Australian Ethical and Future Super stand out for attracting above-system flows.
Diverger shareholders approve Count acquisition
Diverger shareholders have voted to approve the 100 per cent acquisition of Count which was announced last year.
Australians happy to use super to pay for advice: CFS research
Research from Colonial First State has found 93 per cent of Australians believe people need financial advice and almost two in three are interested in using the funds in their super to pay for that advice.
CEO of UK fund Railpen to step down
UK pension fund Railpen’s chief executive John Chilman will retire in 2025, after six years in the role.
AMP Super appoints TAL as default insurance provider
AMP has appointed TAL as its default and retail insurance provider for AMP superannuation fund members, including its SignatureSuper offer.
TAL appoints chief claims officer
TAL has appointed Georgina Croft as its chief claims officer and to the executive team, replacing Jenny Oliver who was named TAL chief executive, group life and retirement in October 2023.
Balanced funds return 9.6 pc in CY23: SuperRatings data
The median balanced super fund option has returned 9.6 per cent in the 2023 calendar year, boosted by a share rally in the final quarter, according to SuperRatings’ latest data.
Super fund ownership of ASX is no Gothic horror story
Coalition Senator Andrew Bragg’s horror narrative says our super funds could “eat up the whole local exchange” and use it for nefarious purposes. But the OECD suggests Australia actually lags peers on the share of the bourse represented by institutional investors and says they generally make responsible owners.
AustralianSuper’s lead on fund flows moderates
The big eight profit-for-member funds took 80 per cent of natural flows in FY23, with mega-fund AustralianSuper leading the pack. But the nation’s largest fund also saw a slowdown in member switching, securing $9 billion, down from $14.5 billion the year before. APRA data suggests switching activity across the broader market has declined.
MSC acquires Certane Corporate Trust
Corporate trustee and fund administration platform MSC Group has acquired Certane Corporate Trust, formerly trading as AET Corporate Trust and part of Australian Executor Trustees.
