The planned merger between hospitality-based super fund Hostplus and South Australia-based Statewide catapults a fund with one of the industry's most attractive net flow profiles into the ten largest in the country.
Even in cases where remediation programs have begun or actions have been taken and where remediation is possible, regulators and government remain unclear about how trustees can direct funds to pay without impacting member balances, a House or Reps committee has heard.
ASIC’s new super enforcement and surveillance remit includes a focus on trustee competence and oversight that has led the regulator to investigate a “pocket of trustees” it believes is involved in misconduct, Karen Chester has revealed.
The stage is set for a greater focus on climate this year, particularly in light of the election of US President Joe Biden and the control of the US Senate falling with the Democratic party, Australian Ethical's David Macri says.
The settlement of a recent case brought by a member of Rest Super Fund against the trustee is an important reminder of the importance for long term fiduciary investors to pay attention to climate and other ESG related risks to investments.