Pauline Vamos

Investment Strategy

FSI’s backing of independent trustees “unenthusiastic”

The Financial System Inquiry’s recommendation that APRA-regulated superannuation funds should have a majority of independent trustees has been branded “unenthusiastic” by Industry Super Australia. Notably the section of the report containing the recommendation, which also calls for all chairs to be independents and for an arm’s length definition of independence to apply, starts out with […]
Investment Strategy

The FSIs seven recommendations for super

The Financial System Inquiry has made seven recommendations in its final report to government with direct reference to superannuation. All of these plus one observation on taxation (which was outside the scope of its inquiry) are listed below. In reviewing the report yesterday, Pauline Vamos, chief executive of the Association of Superannuation Funds of  Australia […]
Hedge Funds

QSuper imagines long life insurance

QSuper has envisioned a process for creating its own deferred annuity that would be one part investment and one part a group insurance contract. Speaking after a hard hitting oration to the ASFA annual conference in which she called for a “second super revolution”, Rosemary Vilgan, chief executive of QSuper, said this product could be […]
Investment Strategy

Australia eyes global shift to collective defined contribution

The global shift towards collective defined contribution (CDC) has gathered momentum after the UK government announced its intention to remove legal impediments to their set up last week. In March, Unisuper asked the Financial System Inquiry to consider how the best features of pension systems in the Netherlands and Canada could be emulated in Australia, […]
Investment Strategy

Funds compete in quality of online data for members

Higher data disclosure should be seen as an opportunity for funds to compete, rather than a burden, according to software firm DST Global Solutions. The firm has been assisting super funds with Strong Super data compliance over the past year, but is now increasingly helping create online access for daily updates on member’s account balances. […]
Unintentional

The independents debate

Will super funds be better off with more independent trustees? The government thinks so. David Rowley asked the industry their thoughts. Sub-optimal superannuation funds pose a threat to national finances. This is a key starting point for those that urge change to fund boards. The belief runs that with national debt spiralling, the government cannot […]
Custody

APRA lambasted over cost of compliance

APRA came under fire from speakers at the Investment Administration Conference for the cost and impractical nature of  much of the compliance with new regulation. On a panel session on the subject of Stronger Super held in Sydney on February 12,  APRA general manager Greg Brunner, heard of the stress that compliance was causing for […]
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