After recent mergers and if further planned mergers proceed, Australia’s superannuation landscape will consolidate to 12 funds with assets under management of more than $50 billion each, the data shows.
It’s all well and good to say super is all about accumulation of funds for members during their working lives but according to AustralianSuper Chair Donald Russell funds also have a responsibility to provide advice.
Despite the challenges brought about by the pandemic, investment operations executives reveal a number of “mindset shifts” have actually improved work processes by bringing innovation and forward thinking to the fore.
Across the globe the transparency of disclosure varied greatly, both between countries and between funds across all the factors that were measured. In some instances there are wild variances between the best and worst performers, the new benchmark reflects.
The top 10 most read Investment Magazine stories for 2020 paint a picture of adaption in a crisis, creative thinking in dislocated uncertain financial markets, testing of business models and continuing consolidation amid a shrinking number of funds responsible for an increasing pool of assets.
The world’s ability to manage Covid-19 will progressively improve over time, says Mark Delaney, the CIO of Australia’s largest superannuation fund, and the economic recovery has so far been faster than with other major recessions.
IOOF's deal to acquire MLC from National Australia Bank will catapult the diversified financial services group into the second-largest superannuation fund spot in the country by member assets and the largest based on platform funds under advice.