Industry funds sanguine about one third rule

Chairs of industry funds have reacted with pragmatism to the Government’s move to enforce one third of their boards to be independent and to have an independent chair. Many have already anticipated the change in legislation by hiring their first or second ever independent trustees with the explicit intention of filling skills on their board. […]

Growing pains: HESTA

HESTA’s 800,000 members are predominately women and members can experience a working history that sees them in both part and full time jobs. This means investment and advisory strategies are tailored to meet the goal of providing retirement outcomes for members who may have low account balances. While low account balances are the norm, the […]

Super Salary Survey: Differences in Disclosure

What do the explanations for remuneration strategies given by funds reveal? The biggest clichés in super fund remuneration statements are that the trustees consult with independent external consultants to ensure pay is in line with industry standards and that incentive pay for CEOs and CIOs is based on key performance indicators (KPIs). Usually this is […]
Investment Strategy

HESTA appoints new CEO

HESTA has appointed Debby Blakey as its new chief executive. Blakey was the deputy chief executive serving under Anne-Marie Corboy, who announced her departure as chief executive last September after 16 years in the role. Internally, senior staff at HESTA, had expressed a desire to see Blakey made chief executive. Angela Emslie, HESTA chair, said: […]

Profile of Anne-Marie Corboy: Leaving on a high

Since inception, HESTA has returned more than 1 per cent above its benchmark: 8.86 per cent versus 7.1 per cent and Anne-Marie Corboy cites such strong long-term returns to members as one of her greatest achievements. She’s also proud of a somewhat unique default insurance that the fund was able to maintain throughout the MySuper […]
Hedge Funds

HESTA to cut investments in thermal coal

HESTA, the super fund for health and community services, is to progressively implement a restriction on investments in thermal coal. It will not make new investments in unlisted companies that derive more than 15 per cent of revenue or net asset value from exploration, new or expanded production, or transportation of thermal coal. In addition, […]