Cooper Review

Governance

State Super mulls independents

State Super Financial Services will review the composition of its board in 2014 and consider adopting the Cooper Review’s recommendation of three employer, three employee and three independent trustees. The $13 billion advice firm and superannuation fund is owned by the $40 billion SAS Trustee Corporation. The SSFS board is chaired by former chief executive […]
Unintentional

From politics to post-retirement

Former Victorian premier and federal member of parliament, John Brumby likes women. Since his appointment as independent chair of the MTAA Super Trustee Board in April 2011, he has overseen the appointment of the fund’s first female chief executive and independent directors. Former AvSuper chief executive Leeanne Turner replaced the fund’s longstanding leader, Michael Delaney, […]
Hedge Funds

Member engagement and activity link questioned

The accepted belief that the most engaged superannuation members are the most active has been called into question by an academic from the University of New South Wales. A survey of 675 Unisuper members found the greatest proportion of fund switching or adjustment in insurance cover was carried out by members who were not fully […]
Policy and Regulation

Charter group for super custodians

The charter group for the Labor government’s proposed council of superannuation custodians has begun public and private consultation with the superannuation industry, with Jeremy Cooper at the helm as chair. Cooper said the primary task for the group, appointed in May by Minister Bill Shorten, is to deliver a coherent report on the role of […]
Hedge Funds

VicSuper, Australian Ethical Super move to after-tax benchmark

VicSuper and Australian Ethical Superannuation (AES) have both implemented a new FTSE after-tax benchmark for their Australian equity portfolios, which collectively amount to more than $2.4 billion of assets under management. The move signals a greater push among super funds to report after tax to investors, with a focus on the return after tax and […]
Investment Strategy

Paul Costello will review default funds

An eight month review by a government-appointed panel on default superannuation funds is expected to begin next month. The Productivity Commission will be tasked with designing a process for the selection and ongoing assessment of superannuation funds nominated as default funds. “It seeks to develop transparent and objective criteria against which funds wishing to be […]
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