For the size of its AUM, the $75 billion industry fund REST has an extraordinary 2 million membership base that its CIO, Andrew Lill, knows takes hard work to retain. Not wanting to rest on the laurels of the default system, his assumptions stand in contrast to comments made by outspoken industry peer Hostplus CIO Sam Sicilia.
After campaigning for more permanent funding this year, Super Consumers Australia has received a $5 million grant from the government to be delivered over the next five years. The organisation’s acting director Gerard Brody says the taxpayer funding will allow the consumer group to expand its “rigorous” research on fund performance and fees.
AMP has announced the finalists for the 2023 ASTRUM quality award.
Clean Energy Finance Corporation has invested $75 million in the forestry sector via specialist fund manager New Forests, targeting carbon abatement of one million tonnes over the next decade.
Australians fear running out of money in retirement, so they only draw down at the minimum rates. Yet they still seem hesitant about lifetime retirement income products that would help them be more confident in retirement. Researchers around the world call that the annuity puzzle, and have been trying to solve it for decades.
In a perfect world, retirees would enjoy their chosen lifestyle with the confidence that their retirement savings will last the distance. Unfortunately, reality paints a different picture. Retirement arrives and necessitates a reconfiguration of financial strategies and budgets.
Just how super funds help members switch over to the retirement phase once they reach preservation age varies. But it is becoming increasingly tech-driven in a bid to give members a variety of ways to understand how to make the most of the retirement phase of life.
The nature of dual-class shares came under the spotlight in the recent WWE and UFC merger when misconduct-accused executive chair of the combined TKO group, Vince McMahon, installed himself back onto the board with a play on voting power. Pension funds around the world have long opposed dual-class shares, but why?
Northern Trust Asset Management has paid $29,820 to ASIC over two infringement notices for greenwashing activities, an update from the corporate regulator has said.
With growing numbers of members transitioning from accumulation to decumulation, the demands on super fund investment teams are likely also to shift substantially. The objectives of retirement are so different that separate investment portfolios and managers may be required. Aware Super and TelstraSuper shared their approach with the Fidicuary Investors Symposium.
To accommodate implementation of changes announced for the adviser exam last week, ASIC has announced the date of the first 2024 adviser exam will be 24 March.
Industry funds Mine Super and TWUSUPER are on track to complete their merger by mid 2024, announcing that the new entity will be named Team Super.
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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.
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