independent directors

Opinion

The independents debate: much ado about nothing

Is the debate around independent directors joining industry funds losing its sizzle? Back in November 2013, when the then assistant treasurer Arthur Sinodinos said he would tackle the issue, credence was given to the hysterical idea that the Coalition Government would seek to impose a majority of independent trustees onto industry funds. Since then the […]
Investment Strategy

More women and independents on boards

Diversity on superannuation boards has increased steadily in the past year, with nine out of 13 publicly announced appointments going to women. Seven of these appointments have gone to independents, four have gone to people with funds management backgrounds and two have gone to lawyers. The announcements only represent funds that have sought to publicise […]
Investment Strategy

Prime Super open to female director

Prime Super is to make gender diversity a consideration when replacing the HIP Super trustees who resigned following the merger of the two funds in May. The fund, which currently has only six directors, is one of less than 10 superannuation funds without a female director on its board. Martin Day chief executive of St […]
Investment Strategy

Retail fund directors scrutinised over commissions

The revelation that as much as seven per cent of money in APRA-approved default funds will pay out commissions to advisers until 2017 has led to hard questions on the role of independent directors in retail funds. Speaking at the AIST governance symposium in Melbourne, several speakers expressed surprise that such a large proportion of […]
Investment Strategy

Funds prepping for independent appointments

Superannuation funds are lining up possible candidates and calculating costs in the widely held expectation that the Federal Government will make it mandatory to fill one third of boards with independent directors. Andrew Fairley, Chairman of Equip, expects a change within six months and said the new ‘one third’ independent director structure would be a […]
Investment Strategy

Bob Henricks criticises lack of unity on independents debate

Bob Henricks, one of Australia’s longest standing trustee directors, has accused industry associations of a tacit acceptance of the government’s push for more independents. Henricks, the chair of Energy Super since 1995, is opposed to the change, as he sees a lack of evidence to suggest that independents will add to fund performance and is […]
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