David Atkin

Unintentional

Numbers moving to SMSF stalls

David Atkin, chief executive of Cbus has declared the growth in members of industry funds leaving for self-managed super funds at an end. The announcement comes the same day the scheme launches a member direct platform to cater for large account holders who want to manage their own investments. “Members moving to SMSF is an […]
Investment Strategy

Insurance “pain” invites new approach

Rising insurance claims have seen a number of superannuation funds recently renegotiate premiums, with some pundits predicting it’s the start of broad sweeping changes for large funds. In the last week both Cbus Super and Equip announced changes to their insurance cover, as both funds renegotiated terms with their insurer, Hannover Life Re of Australasia. […]
Investment Strategy

Cbus wants impact study of pension at age 70

Cbus is to undertake an examination into the potential impacts on its members of shifting the pension age to 70. The fund has 700,000 members in the building, construction and allied industries, many of whom find it hard to continue manual work until their sixties. David Atkin, chief executive of the $22bn fund, said that […]
Governance

Lally one of highest paid super executives

Former Sunsuper chief executive Tony Lally was paid more than $811,000 in remuneration in his final year at the fund. The $24-billion fund’s 2013 financial statements show him to be one of the industry’s highest paid executives. The average fund chief executive received a 5.7 per cent pay rise to $333,087 in 2012-13, according to […]
Investment Strategy

Cbus CEO to explain strategy changes at FIS

Cbus chief executive, David Atkin, will explain his fund’s new investment strategy, which saw the CIO role split in two, at the Fidicuary Investors Symposium in Victoria later this month. The 18-month Cbus review created a new role – known as executive manager, investment strategy – which will be taken up by former Frontier Advisors’ […]
Hedge Funds

Strategy rules at Cbus

“The strategy governs the fund completely,” says Steve Bracks, chairman of the Cbus board. “It determines the budget and sets priorities.” Those priorities include positioning the fund to be the “complete” fund that covers the entire building and construction industry, including the 45 per cent it currently doesn’t represent in whitecollar professions such as architecture. “We […]
Administration

Funds need a benchmark

Cbus is to be applauded for showing the way in transparency, with its latest annual report disclosing more information about the fund’s investments, director and executive remuneration than ever before. It’s clearly a leader and should be recognised for this; it takes courage to jump ahead of the pack when there is no compulsion to […]
Investment Strategy

David Atkin: Superpartners will increase efficiency

Construction & Building Industry Super, the $17 billion fund, says its new information technology systems developed by Superpartners will benefit its 655,000 members by improving services while increasing the efficiency of its administrative processes. Melbourne-based Cbus says it is “optimistic” Superpartners’ SpRIGHT, a registry and administration system, will benefit its members and employers when it […]
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