Australian Prudential Regulation Authority (APRA)

Governance

Most funds talking about mergers

A majority of superannuation funds are currently having conversations about potential mergers, according to Maree Pallisco, national superannuation leader at EY (formerly Ernst and Young), due to the impact of the Stronger Super reforms. As a leading provider of independent advice on the business structures of super funds, EY hears regularly from trustees who are […]
Administration

New regime of APRA reporting

The Australian Prudential Regulation Authority (APRA) has provided its much-awaited clarification on the reporting requirements for regulated superannuation entities (RSE). While it reduces some of the burden of earlier drafts, the reporting requirements are still very significant and present some serious challenges to funds, their administrators and custodians. However, in many respects, some of the […]
Unintentional

Ross Jones reflects on stronger super

Ross Jones believes the world of superannuation is in a good place. “We’ve gone from what was sometimes described by people as well-meaning amateurs to a sophisticated and professional industry in the space of a decade. And that’s something the industry can be proud of,” he says. It is in such a good place that […]
Policy and Regulation

After-tax outcomes beyond July 1

Superannuation funds delaying after-tax investment compliance should not be neglecting implementation of solutions in the lead-up to the July-1 deadline for Stronger Super, says Raewyn Williams, head of tax consulting at Russell Investments. From July 1 it will be compulsory for superannuation trustees to focus on post-tax outcomes as part of the new Stronger Super […]
Custody

The great data challenge

The challenge: combine investment data with member-specific details and present the particular information in a way that satisfies the needs of regulators, internal auditors and accountants. Currently, super funds have to collect around 900 data items on a regular basis to satisfy the needs of the Australian Prudential Regulation Authority (APRA). With effect from July, […]
Investment Strategy

First MySuper licences issued

The first of the MySuper licences have been authorised by the Australian Prudential Regulation Authority (APRA), enabling licencees to offer their products from July 1, 2013. Sunsuper was the first superannuation fund in Australia to receive its licence for Sunsuper for Life, Lifecycle Investment Strategy;  Cbus announced its authorisation for Growth (Cbus My Super) shortly […]
Custody

The incredible expanding world of custody

A central, if often overlooked feature of Australia’s super funds is that they have, for a very long time, worked closely with external service providers in their pursuit of world best practice. In relation to custody and securities services, this is a very sensible approach. The scale, geographic reach, and massive investment in technology of […]
Investment Strategy

The new normal in investment management

In order to be bullish about their businesses, most investment managers need to take a long-term view. Globalisation, which involves the further integration of financial markets and economies, should promote the growth of pools of organised savings over the next decade or two. Because of ageing populations in developed and developing countries, demand for retirement-savings […]
<1of2>