Stronger Super

CIO profiles

Cost of Stronger Super leads to Media Super cutting CIO role

The cost of Stronger Super compliance and product development has led Media Super to cut the role of chief investment officer. Jon Glass left the fund on Monday and the responsibility for the $3.8 billion investment portfolio will be assumed by chief executive Graeme Russell, who in his time at First Super also acted as […]
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. […]
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 […]
Custody

‘Please help trustees on data’, fund managers asked by APRA

Trustees are being swamped with information from fund managers, says the Australian Prudential Regulatory Authority (APRA), which has called for more streamlined reporting to help. Greg Brunner, general manager APRA, told delegates at the 17th annual Investment Administration Conference in Sydney that fund managers should be helping trustees cope with the increased compliance they were […]
Investment Strategy

Funds put product dashboard in the dark

Some super funds have incurred the displeasure of the Australian Securities and Investment Commission (ASIC) by putting links to their product dashboard in unobtrusive positions on their website. The product dashboard provides members with five essential facts on their Mysuper fund; the return target, actual returns, a comparison with previous returns, the level of investment […]
Investment Strategy

Braga: industry has climbed mountain

The superannuation industry climbed a mountain in meeting new reporting requirements in 2013 and can do the same again in 2014. David Braga, chair of the Australian Custodial Services Association, attributes the success to close co-operation between funds providers and APRA. “The initial (reporting requirements) draft that APRA issued at the end of 2012 was […]
Investment Strategy

Treasury needs to open up on portfolio disclosure

The Treasury still has much more detail to provide on portfolio disclosure requirements before it can be viewed as workable, according to Unisuper’s head of investment law and compliance. Luke Barrett, who is responding to the Better Regulation and Governance discussion paper from the Treasury, is working with the Law Council of Australia’s superannuation committee […]
Investment Strategy

Jeremy Cooper to review progress so far

The creators of the principals behind Stronger Super regulation are to publicly assess how far the industry and the regulator have progressed in enacting their vision. Both Jeremy Cooper and Paul Costello will be talking in Sydney and Melbourne at the Investment Management Consultants Association in Sydney on November 26 and in Melbourne on November […]
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